Introduction
Organisations are using pricing strategies to drive more profitable growth in response to relentless pressure to produce profits. Although pricing is an easy-to-understand marketing mix element, changing prices can have an impact on the company, the products and portfolio. An uncoordinated pricing strategy or trial-and-error approach to pricing can reduce a firm’s bottom line. In this workshop, a timely introduction is given to the management of price strategy, based on well-accepted theories, and a strong focus on actual applications is given. Concepts are drawn from marketing, economics, finance and accounting are developed in the strategic management framework. This workshop ensures participants to learn the way how to set the right price and negotiate to get the price that would benefit the organisation. At the same time, this workshop enables the participants to negotiate a win-win situation and close the sales.
Program Objectives
This program aims to:
● Introduction of the strategic management process
● Relates pricing strategy to the overall strategy of an organisation and its functional
support groups.
● Discuss, in detail, down to the process of selecting a price strategy for different
products and services at different stages of the product life-cycle.
● Apply price negotiation strategies to win the market.
Learning Outcomes
After completing this module, participants should be able to:
● Understand the consideration factors during price strategy
● Appreciate the process of price selection
● Plan and implement the price strategy
● Negotiate and close sales with attractive and innovative price strategy.