Pricing for Product Managers

Pricing is one of the most important product management tasks. The price decision often defaults to the highly flawed, but easier to implement, cost-plus or competitor comparison approaches. In this advanced course we take a completely new look at the pricing problem, adopting a value based approach to pricing and provide tools and templates for immediate practical use.

You will gain confidence from a deep understanding of the pricing process, solid techniques and sound theoretical principles. You will be able to analyse pricing situations from several standpoints and be able to construct and defend optimal pricing solutions. Basing prices on customer value enables the company to apply a consistent and rational methodology that will achieve superior returns and better customer relationships. It will help reinforce management's efforts to build the business on value and will produce tangible results from doing so.

There are no pre-requisites for this course, however 18-24 months product management experience would be ideal. Although designed for product managers, specialists from other disciplines will find the ideas and concepts invaluable in their work, eg. sales, marketing and technology managers, management accountants and business analysts.

• Pillars of pricing (overview of 5 key areas of theory). Measuring financials, impact on brand and customer engagement.
• Pricing responsibilities of product managers – how they can make a difference.
• Critique of conventional pricing methods from the perspective of product managers.
• Buyer types and the value proposition.
• Special pricing challenges – new products; price reductions; pricing tactics; bundle pricing (especially product and service/software); legal issues.
• Competitive pricing strategies.
• Delegate case studies.

• Delivered in a practical, hands-on manner, including a blend of lecture/presentation, case studies/exercises, and discussion/guest speaker.
• Opportunity for one-to-one session with course director.
• Case studies based around delegates’ pricing challenges, contemporary problems in pricing and published cases.
• Group activities: typically building value proposition, using analytical tools to develop pricing strategy for case company and value segmentation.