Managing Pricing Profitably
Instructor: George Cressman
Founder and President, World Class Pricing, Inc.
March 5 - 6, 2013
Marketing and pricing based on the value of your products and services to customers — direct and downstream — can bring more profits straight to your bottom line...
Yet, throughout business practice, we find that businesses usually know their cost(s) very well, but don't have even a crude understanding of the value they bring to their customers. Markets are usually targeted based on how valuable they are to the firm, rather than on how valuable the firm is to them. As a result, large chunks of profit are often left on the table. Participants report that this seminar has had immediate impact in better pricing, more effective marketing decisions, and improved profits.
This seminar can help participants to improve sales and profits by showing how customer value can be measured and used as the driving force in marketing and pricing. It covers market and price dynamics throughout the competitive cycle of an industry. Participants will be better able to manage marketing and pricing strategies for unique new offerings, as well as commodity-like products and services.
Who Should Attend
People who develop, contribute to, or implement strategies for products or services sold to business and industry:
- business directors
- planning managers
- market/product managers
- pricing managers
- sales managers
- product/market development managers
- Values, Costs, and Prices: An operational definition of the value of a product to a user. Development of a conceptual structure that shows the relationship between price, costs, and values.
- Value-in-Use: How to assess the economic value of new products or significant product performance differences, and to think through pricing and marketing implications of the value analysis.
- Relative Perceived Value: A conceptual structure for assessing the customer value of attributes which cannot be assessed by objective value analysis, along with techniques for applying the concepts.
- Value-Driven Market Strategies: Value-based market segmentation, positioning, and targeting.
Value and Price Dynamics
- The Product-Market as a Complex System: Understanding competitive dynamics under "normal" competitive conditions in commodity-like markets. The impact on markets of cost dynamics production capacity additions will be examined.
- How Industry Leaders Must Manage Their Industries as Well as Their Businesses: Gut reactions to events like business downturns or competitive thrusts, and simplistic aggressive actions, often produce unanticipated negative outcomes. We will consider how the market as a whole is likely to respond to such events and, thereby, enable market leaders to take actions which will produce better net results.
- Managing a Premium Position: How to manage a premium position in a market and to sustain it at a higher level for a longer time.
- Managing the Commodity Price: The commodity price as an equilibrium of forces. Managing it by avoiding mistakes, particularly mistakes of pricing below what the market will bear.
Date and Location
This course is scheduled for March 5 - 6, 2013 at the Kennametal Inc. campus (1600 Technology Way) in Latrobe, PA. Attendees should contact a local hotel for room reservations:
Wingate Latrobe – 3970 US 30 Latrobe, PA 15650 Phone: 724.539.0400 (5 minutes from Kennametal)
Springhill Suites – 115 Arnold Palmer Drive Latrobe, PA 15650 Phone: 724.537.7800 (Located across the street from Kennametal)
Courtyard Marriott Greensburg – 700 Power Line Dr. Greensburg PA 15601 Phone: 724.834.3555 (About 10 minutes from Kennametal)
Cost and Registration
ISBM Member: $1,500 USD
Non-Member: $2,500 USD
Up to 30 days prior —no fee
Between 29 – 15 days prior —$100 fee
Within 14 days prior —full conference fee due
All substitutions within 14 days prior to the seminar will be subject to a $50.00 administrative fee.
Paula Dorminy or Gary Holler