Value-Based Pricing – How much of the value that you create do you keep and how much does you customer capture?
Do you effectively price your offerings in both your existing business value propositions and new offering development process?
The Kent State University Center for Corporate and Professional Development Certificate in Marketing and Innovation Program Value-based Pricing class addresses both pricing challenges. Get the roadmap to operationalize pricing.
Value Pricing Optimization
Value pricing optimization is the process to determine the best price for existing products and/or services over the long term.
The expected goal of pricing policy is to maximize long-term earnings. While this is a simple statement, it is a difficult problem complicated by uncertainties, competitors, multiple products, and segments.
To successfully price a new offering or optimize your prices for existing offerings, you need to
- Understand and measure the value you create- your value proposition
- Communicate the value created into an your product and positioning
- Capture a fair share of that value through value-based pricing
The purpose of this class is to provide you with the knowledge to price more effectively to grow profits for both new and existing products and services.
In this class you will learn
- The definition of value pricing
- Fundamentals of pricing
- How pricing integrates with other marketing mix elements
- Pricing in an existing business or product environment
- New product or service pricing
- Implementing a price change
- Tools to make good pricing decisions
- How to create and use your product’s price-demand curve using an interactive simulator
Pre-work: An understanding of how pricing is generated in your organization today