Price and Pricing Strategy

Description:

Through this course, you will learn what is price, what are pricing strategies and the different types of pricing strategies. You will also learn about the importance of making sure your pricing strategy is right, how price discrimination works and the different types of price discrimination and lastly, we will cover the Important Factors affecting Pricing Decisions.

A pricing strategy takes into account segments, ability to pay, market conditions, competitor actions, trade margins and input costs, amongst other things. It is targeted at the defined customers and against competitors. Having an effective pricing strategy helps solidify your position by building trust with your customers, as well as meeting your business goals. Pricing strategies account for many of your business factors, like revenue goals, marketing objectives, target audience, brand positioning, and product attributes.

This is the Course layout:

1. Introduction

• Introduction to the course

• What are pricing strategies?

• Why figuring out the right pricing strategy is important?

2. Types of Pricing Strategies

• Value-Based Pricing

• Competitive Pricing

• Price Skimming

• Cost plus pricing

• Penetration pricing

• Economy pricing

• Dynamic pricing

• Freemium Pricing Strategy

• Bundle Pricing Strategy

3. Price Discrimination and its types

• What Is Price Discrimination?

• Types of Price Discrimination - 1

• Types of Price Discrimination - 2

4. Important Factors affecting Pricing Decisions

• Organisational Factors

• Product Differentiation

• Cost of producing the product

• Objectives of the Firm

• Demand