Training
Provided by 123-CBT Computer Based Training
Principles of Marketing: Pricing Strategy offers the student an overview of the information required to identify the role pricing plays in the marketing mix, to select appropriate objectives for pricing strategies, and to choose common methods to determine pricing. In addition, the program details the issues to consider when establishing a pricing strategy, the legal constraints that can affect pricing decisions, and the steps of the pricing process.
Learn To
Identify the objectives your pricing strategy might achieve.
Apply the correct terminology when developing a pricing strategy.
Choose options to establish different prices for different buyers.
Identify pricing strategies.
Sequence the steps of the pricing process.
Apply the appropriate steps of the pricing process.
Audience
Managers, supervisors, and executives who can influence the marketing and strategic goals of their organization.
Unit 1: Defining the Role of Pricing (0.5 - 1 hour)
Identify the role pricing plays in the marketing mix.
Identify the objectives your pricing strategy might achieve.
Identify the appropriate life cycle stage and pricing strategy for a given product.
Select the legal constraints that can affect your pricing decisions.
Simulation Overview:
In this simulation, you will meet with Bruce Madison and Elizabeth Williams to brainstorm about next year's pricing strategies for two video camera products. The purpose of the meeting is to develop initial recommendations to present to the Vice President of Marketing, Brian Smith. You will need to use your knowledge of pricing strategies and objectives to create recommendations.
Unit 2: Determining Price (0.5 - 1 hour)
Choose the options to establish different prices for different buyers.
Utilize pricing policies to create a flexible pricing system.
Identify pricing strategies.
Select the common methods for determining pricing.
Use the appropriate pricing formula in a given situation.
Simulation Overview:
In this simulation, you will meet with Paul White, Director of Sales, and Ronald Spear, Product Manager, to discuss a price for the Icon HSX-450, a top-of-the-line audio receiver. You will need to use your knowledge of pricing policies, strategies, and methods to develop a price recommendation to give to senior management.
Unit 3: Establising a Pricing Strategy (1 - 2 hours)
Select common issues to consider when establishing a pricing strategy.
Sequence the steps of the pricing process.
Apply the appropriate steps of the pricing process.
Simulation Overview:
In th
Training Avaliability and Delivery
This is primarily online training
This is an online eLearning or CBT training program
This program may be available on CD
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