Course Code
FSE-4001
Course Category
Financial Skills Enrichment
Course Modules
3 instructor led modules
Course Duration
2 hours
Course Material
Student workbook
Course Overview
Pricing is among the most important decisions made by both profit-making and non-profit organizations on a daily basis. In several respects, it is also an important factor for defining meaningful customer relations while safeguarding a position in the market over extended periods. In fact, there is a very evident correlation between the price of a product or service and the ability of an organization to retain customers and grow it's slice of the market.
Understanding and managing the pricing process within an organization to correctly account for market dynamics and realize revenue growth is consequently both necessary and vital to long term viability.
Pricing for Profit and Growth
Among other things we will explore:
the importance of pricing as a defining factor for solidifying long-term business relations
the variability of cost and it's impact on pricing
why pricing should be prioritized as a key business management factor
Key Learning Modules & Objectives
Pricing for Profit and Growth
Included in this course are the following sessions:
The Defining Context of Pricing - In this session we will examine the concept and elements of pricing, with particular reference to business and answer the question "What is Pricing?"
Fundamentals of Pricing Strategies and Processes - this all important session will explore pricing strategy as an important mechanism for securing long-term growth, and will engage participants in an in-depth look at the crucial steps for establishing a resilient pricing strategy -
Pricing Models: Concept & Practical Considerations - In this session we examine a series of pricing models and case analysis to give context to the suitability of one model over another based on industry structure -
Techniques for Drafting & Implementing a Workable Pricing Policy - this practical session will walk participants through an actual pricing policy and in addition to defining important clauses that should be included, also examine techniques for effective implementation
Pricing for Profit & Growth - this close-out session will primarily focus on four (4) methods by which pricing can be applied to drive profit but more importantly the growth of a business.
Learning Today to Enrich & Empower Tomorrow!
Upskill and excel today
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"successful people and organizations are those who commit to continuous learning as the platform for continuous improvement. They understand that knowledge acquired yesterday may not be relevant for tomorrow and with relentless passion "learn today to enrich and empower tomorrow"
Pricing for Profit and Growth
an excellent course for business owners, especially within micro, small medium enterprises (MSMEs)
Some key terms featuring in this learning experience include:
price rationalization, economic environment, demographics, break-even analysis, cost rationalization, customer retention, price point analysis, pricing policy, financial forecasting
also included in this course:
a downloadable excel pricing strategy template and
a draft pricing policy template to help with formalization of pricing procedures
CERTIFICATE - Upon completion, participants will be awarded:
A Pricing for Profit & Growth Certificate of Participation
Enrollment & Payment
Important
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Registration and payment for this training course is a prerequisite to participation.
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Upon payment, your registration will be processed within a maximum of one working day, after which you will receive notification by email with confirmation of registration and access codes to this course
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In accordance with exchange requirements, billings are done in Barbados dollars which exchange at a rate of Barbados $2 to every US$1.