Transform your pricing from guesswork to strategy. Discover how understanding customer value unlocks your highest possible profits.
Taking a strategic and structured approach to pricing is probably the single most important thing you can do to improve the profitability of your business. In many organizations, pricing is seen as a dark art—but it is not; it is a science. The price you achieve for your products and services will be the price of the best alternative plus the differentiation value you create and effectively communicate to potential buyers.
To maximize profits, therefore, you need to identify those elements of your products and services that appeal to the customer and work to enhance them, eliminating any negative factors. Creating such differentiation value in your products and services requires an understanding of value drivers versus the competition. This course will show you how.
In this course, we describe a method for setting prices for your products and services that maximize your profitability by aligning precisely with the markets you are targeting. In essence, the method is to ask yourself why customers would want to use your business rather than another. Then you compare your offering with those of competitors in the marketplace and set your pricing to reflect the value of the benefits that you offer customers—whether it be quality, service, speed of response, and so on.
Business author and consultant, specialising in performance measurement and improvement
I am a Fellow of the Chartered Institute of Management Accountants in the UK and work as an author of business courses and a process improvement consultant. I have over 30 years' experience and live near Stirling in Scotland, with my wife, daughter and Cocker Spaniel. I aim to make my courses accessible and understandable. My courses focus on business topics including KPIs, performance measurement, approaches to business improvement, Agile and Lean. I hope you enjoy my courses.
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