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Pricing Strategies and Advanced Pricing Models

Pricing Strategies and Advanced Pricing Models

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Accepted by thousands of bodies

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Start Anytime

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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

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  • 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

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.

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%.

Introduction

  • Welcome to the course

Step 1: Pricing Policy and Pricing Objective

  • 6 Steps of setting a Pricing policy
  • Different Pricing Objectives

Step 2: Estimating Demand

  • 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

Step 3: Estimating Costs

  • Estimating the cost function
  • Excel: Modeling Cost Function and Maximizing Profit
  • Including effect of complementary goods
  • Excel: Effect of complementary goods

Step 4: Analyzing competitors

  • Analyzing Competitors

Step 5a : Price Bundling Strategy

  • 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)

Step 5b: Non-Linear Pricing Strategies

  • 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

Step 5c: Price Skimming

  • Price Skimming Strategy
  • Excel: Price Skimming Strategy
  • Step 5d: Revenue Management
    Revenue Management
  • Excel: Handling Uncertainity
  • Appendix: Using Lookup functions

Appendix 1: Excel Crash Course

  • 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

CPD

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.

QLS

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.

Endorsed Certificate From Quality Licence Scheme

CPD UK And Accredited Certificate Of Achievement

On successful completion of this course, you will be eligible to order your CPD UK accredited certificate of achievement to demonstrate your new skills. The CPD accredited PDF certificate of achievement can be obtained free of cost, which is included in the course. There is an additional fee to get a printed copy certificate which is £25.

CPD UK And Accredited Certificate Of Achievement

Endorsed Certificate From Quality Licence Scheme

On successful completion of the course assessment, you will be eligible to order the QLS Endorsed Certificate by Quality Licence Scheme. 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. This will provide you with a competitive edge in your career add extra value to your CV. You can also share this certificate with prospective employers and your professional network which will help you to drive a successful career in your chosen industry. There is a Quality Licence Scheme endorsement fee to obtain an endorsed certificate which is £65.

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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.