Course details
Organisations are using pricing strategies to drive more profitable growth in response to relentless pressure to produce profits. Although pricing is easy to understand from 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.
PROGRAMME OBJECTIVES
At the end of the course, the participants will be able to:
- Understanding of the framework that supports a set of pricing strategies
- Identify customer value as the basis for successful pricing and to understand how dynamic customer needs can influence pricing decisions
- Examines the fundamental basics for pricing like the economics of supply and demand and the overall determinants of demand
- Plan and create relevant pricing strategies for the products
PROGRAMME OUTLINE
- Introduction: purpose of the course & expectations
- Warm-up activity: “The Price is Right”
- Pre-course presentation
- Teams discuss the influences, activities and outcomes of pricing actions
- Issues & Challenges with Pricing Products
- Factors Affecting Pricing Decision: Internal vs External
- Pricing Influence Puzzle
- Exercise: Your Pricing Strategy
Course Location
About SMF Centre for Corporate Learning
The Singapore Manufacturing Federation (SMF), formerly known as the Singapore Manufacturers' Association, was first established in 1932. Its main aim is to champion the Singapore manufacturing sector. With a membership of over 2,800 corporate members ranging from MNCs to SMEs, SMa carries out a myriad of activities to enhance the competitive edge of our members.
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