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Learn to set the market best price for your product with our comprehensive course. Explore our comprehensive curriculum covering innovative pricing strategies, dynamic market analysis, and advanced models that enable you to optimise profitability and stay competitive in today's business world.
What will you learn from this course?
- Learn the steps of setting pricing policies and strategies
- Understand the impact of pricing on business success and profitability
- Learn about different pricing strategies such as cost-based pricing and value-based pricing
- Explore advanced pricing models, such as demand-based pricing and revenue management
- Learn to estimate demand and understand various demand curve
- Understand the cost functions and profit maximisation techniques
- Know how to analyse competitors and make strategies accordingly
- Develop revenue management skills
Pricing Strategies and Advanced Pricing Models Course
pricing is a critical factor in driving growth and profitability in business, but getting it right can be challenging. This course explores the latest pricing strategies and advanced pricing models used by successful companies to optimise pricing decisions and drive revenue growth. Through a combination of theoretical concepts and practical case studies, you’ll explore the key drivers of pricing decisions, including customer behaviour, competition, and market conditions. You’ll learn how to develop a pricing strategy that aligns with your business goals and meets the needs of your customers. By the end of this course, you’ll have the tools and knowledge to create a pricing strategy that maximises profitability and drives growth. Whether you’re an entrepreneur, marketer, or business leader, this course will help you unlock the power of pricing to achieve your business goals.
- Set attractive prices and make your business more profitable
- Optimise pricing over time to maximise profitability
- Set the ideal price and stay ahead of your competitors
- drives sales and builds customers’ loyalty through effective pricing decisions
- Enhance Competitive Advantage by using the advanced pricing model
- Improve your data analysis capabilities by leveraging pricing methods
Who is this Course for?
- This course is suitable for product managers who are responsible for pricing decisions for their products or services
- This course is ideal for entrepreneurs who want to create a pricing strategy that maximises their profits
- This course is for marketers who want to develop a deeper understanding of pricing and how it impacts customer behaviour
- This course is best for business executives and leaders who want to create a pricing strategy that aligns with their broader business goals
Entry Requirements
This course has no academic prerequisites and is open to students from all academic disciplines. You will, however, need a laptop, desktop, tablet, or smartphone and a reliable internet connection.
Assessment
This course assesses learners through multiple-choice questions (MCQs). Upon completing the modules, learners must answer MCQs to complete the assessment procedure.
- Through the MCQs, it is measured how much a learner can grasp from each section.
- In the assessment, the pass mark is 60%.
Advance Your Career
This course will provide you with significant opportunities to enter the relevant job market and select your desired career path. Additionally, by showcasing these skills on your resume, you will be able to develop your career, face more competitors in your chosen sector, and increase your level of competition.
If you are looking for a Retail Management Training course enrol on our affordable and highly informative course, which will open your door towards a wide range of opportunities within your chosen sector.
Recognised Accreditation
CPD certificates are accepted by thousands of professional bodies and government regulators here in the UK and around the world. Many organisations look for employees with CPD requirements, which means, that by doing this course, you would be a potential candidate in your respective field.
The Quality Licence Scheme is a brand of the Skills and Education Group, a leading national awarding organisation for providing high-quality vocational qualifications across a wide range of industries.
Course Curriculum
Welcome to the course
6 Steps of setting a Pricing policy
Different Pricing Objectives
Estimating Demand
Forms of Demand Curve
Excel: Estimating Linear Demand Curve
Excel: Estimating Power Demand curve with Elasticity2
Excel: Estimating Power Demand Curve with points2
Subjective Demand curve
Excel: Estimating Subjective Demand Curve2
Excel: Maximizing Revenue using Excel Solver
Estimating the cost function
Excel: Modeling Cost Function and Maximizing Profit
Including effect of complementary goods
Excel: Effect of complementary goods
Analyzing Competitors
Price Bundling
Types of Bundling
The Bundling Problem
Excel: Solving Bundling problem Part 1
Excel: Solving Bundling problem Part 2
Excel: Solving Bundling problem (Price Reversal)
Non-Linear Pricing Strategies
Willingness to Pay of customers
Willingness to Pay of customers
Example Problem Statement
Excel: Standard Quantity Discounts
Excel: Two-Tier Pricing
Price Skimming Strategy
Excel: Price Skimming Strategy
Revenue Management
Excel: Handling Uncertainity
Appendix: Using Lookup functions
Mathematical Formulas
Textual Formulas
Logical Formulas
Date-Time Formulas
Lookup Formulas ( V Lookup, Hlookup, Index-Match )
Data Tools
Formatting Data And Tables
Pivot Tables
Excel Charts: Categories Of Messages That Can Be Conveyed
Elements Of Charts
The Easy Way Of Creating Charts
Bar And Column Charts
Congratulations
Course info
Duration
Accredited by
Tutor Support
Course Access
321 Minutes
CPD UK & QLS
Included
1 Year
0121 295 1244
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FAQs
Depending on the industry and business model, value-based, competition-based, cost-plus, and dynamic pricing are all common pricing strategies.
The pricing model refers to the strategies for determining the best pricing for your products. Price models involve elements such as the cost of manufacturing an item, the customer's assessment of its worth, and the type of product.
Value pricing is perhaps the most important pricing strategy of all. This considers how valuable, high-quality, and vital your customers perceive your items or services are.
Pricing reflects the worth of your products. Some customers may mistake low product costs for bad quality. Alternatively, a high price may indicate high quality but may drive away customers. Pricing strategies assist businesses in striking a balance and acknowledging consumers' desires.
After successfully registering for the course, you will receive an email regarding your login details, allowing you access to your online training course.
Upon successfully enrolling for a course, you will receive an email with your login details. Kindly check your inbox/junk folder and spam folder, or you can contact our award-winning customer support team via [email protected].
Sure, you can gift any of our courses to your friends or dearest ones. After purchasing any course as a gift, kindly provide the learner’s details via [email protected]. and then we will send your gift to the learner with the login details of the course.
Definitely, you can enrol for this self-paced online video training course. Once you purchase the course, you will receive your login details via email. As you will have lifetime access to the login portal, you can complete your course at your convenience.
Our online courses come with lifetime access with no time limit for completion. Each course is fully accessible from a tablet, mobile or laptop, with a secure internet connection.
Upon successfully completing the course, you can order your certificate of achievement as proof of your new skill.
After successfully passing the MCQ exam, you will be eligible to order the Photography Endorsed Certificate from the Quality Licence Scheme.
No prior knowledge is necessary for the course, making it ideal for beginners. However, a positive attitude toward learning is always a plus.
