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Live Online Training Schedules

Now participate in a live online course for a highly discounted fee of only $850, as a limited introductory offer.
(Terms and conditions apply)
CodeDateFormatFees 
PSM1422 Feb - 24 Feb, 2021Live Online$1300Register
PSM1431 May - 04 Jun, 2021Live Online$1800Register
PSM1423 Aug - 27 Aug, 2021Live Online$1800Register
PSM1422 Nov - 26 Nov, 2021Live Online$1800Register

Classroom Training Schedules

CodeDateVenueFees 
PSM1421 Feb - 25 Feb, 2021Abu Dhabi$4250Register
PSM1410 Aug - 12 Aug, 2021Dubai$2950Register

Did you know you can also choose your own preffered dates & location? Customise Schedule

Course Overview

Many managers treat pricing as a tactical problem and end up pricing their products just to cover costs, which results in undermining their profits. By pricing for competitive advantage, they undermine value.

While tariffs may help some domestic regions, economists concur that free trade policies in a global market are an essence of trade. Tariffs are designed to protect small industries and developing economies but are also used by more developed economies and industries.

On the other hand, a subsidy is a transfer of money from the government to an entity which leads to a fall in the price of the subsidised product. Taking all this into consideration, pricing products and services is a strategic challenge that requires insight, analysis, and perspective.

This program informs senior managers and executives responsible for pricing decisions of the concept and methods needed to comprehend strategic pricing and execute it in their own organisation.

Why is this Market Competition and Rates (Tariffs and Subsidies) program useful? Pricing policies act as an interface between a company and its products with its customers and is seen as one of the fundamental elements of modern marketing management.

An upsurge in competitive pressure, shorter product lifecycles, and ever-changing markets have made having a marketing mindset and knowing its methods more important because they allow you to generate real corporate value.

The Internet, digitisation, social media, and other new forms of communication present a major challenge to modern marketing. Marketing competition, therefore, is increasingly becoming a question of communication, relationship management and customer value and how to build, develop, and leverage that value.

This Zoe training course will enable you to achieve your strategic marketing objectives, introduce new products to the market profitably, react to substantial price competition, and assign prices that reflect the true value of your products.

Course Objectives

Upon completing this Market Competition and Rates (Tariffs and Subsidies) course successfully, participants will be able to:

  • Apply market and competition applications in product pricing
  • Understand how to utilise game theory to influence market pricing
  • Learn how to leverage competitor pricing models and use the product lifecycle to price products
  • Recognise strategies for price discrimination in competitive markets
  • Study how to predict, influence and respond to competitors’ pricing moves
  • Discover the real financial consequences of pricing decisions and when it makes sense to compete on price
  • Find out how to adjust customers’ price perceptions to capture more value and determine which alternatives to price competition are appropriate for your business
  • Use pricing to purposefully steer business to long-term success, rather than responding only to resolve short-term competition

Training Methodology

This is an interactive training program and will consist of the following training approaches:

  • Lectures
  • Seminars & Presentations
  • Group Discussions
  • Assignments
  • Case Studies & Functional Exercises

Just like all our courses, this program also follows the ‘Do-Review-Learn-Apply’ model.

Organisational Benefits

Companies who send in their employees to participate in this Market Competition and Rates (Tariffs and Subsidies) course can benefit in the following ways:

  • Produce a detailed market competition and pricing profile for your organisation
  • Save on legal expenses risen due to national or international pricing policy violations
  • Ensure that your company is running with the most streamlined processes in market competition and pricing rates development
  • Benefit from your employees being aware of the tariff and subsidy policies applicable to your organisation
  • Employ the right people to ensure that market competition and pricing policies are implemented properly

Personal Benefits

Professionals who participate in this Market Competition and Rates (Tariffs and Subsidies) course can benefit in the following ways:

  • Gain a holistic understanding of marketing and pricing in all of its facets
  • Implement pricing activities in a way that achieves ambitious objectives when it comes to product, market and customer profitability
  • Become better at using pricing strategies to create value for your company
  • Learn the factors of modern marketing success and come up with catchy pricing and marketing concepts
  • Develop fresh ideas about how to better differentiate your business from your competitors

Who Should Attend?

This Market Competition and Rates (Tariffs and Subsidies) program is designed for:

  • Entrepreneurs and marketing consultants
  • Senior managers
  • Executives of companies who analyse, recommend or approve pricing decisions
  • Directors of marketing, finance, sales, and planning
  • Managers and professionals from product, customer, sales or brand management, who want to expand their marketing knowledgebase
  • Executives and successful managers who are working to differentiate their business, and looking for fresh ideas to help them strengthen and expand their market position
  • Key executives of smaller companies who are introducing new products, handling significant price competition, or lacking in achieving prices that mirror value

Course Outline

MODULE 1: UNDERSTANDING THE PLAYING FIELD

MODULE 2: COMMON PRACTICES & SHIFTS IN INTERPRETATION

  • General Legal Parameters
  • Common Practices
  • Competitive Framework
  • Pricing Options
  • Anticipate Competitors’ Pricing Strategy
  • Competition or Elasticity
  • Legal Aspects of Pricing Analysis
  • Competitive Framework: Case Study
  • Understanding the Playing Field: Case Study

MODULE 3: PREDICTING COMPETITIVE REACTIONS

  • Value Mapping
  • Case Study: SanDisk vs PNY
  • Introduction to Game Theory
  • The Prisoner’s Dilemma
  • The Evolution of Cooperation
  • Signalling Games
  • Extensive Form Signalling Games
  • Gas Wars and Takeaways
  • Value Mapping Analysis
  • Game Theory Analysis
  • Predicting Competitive Reactions

DISRUPTING MARKETS AND ENGAGING IN “COOPETITION”

  • Competitor Pricing Models
  • Understand Competitive Dynamics
  • Assess Your Options
  • Choose and Execute Best Move
  • Price Wars

PRICING THROUGH THE PRODUCT LIFE CYCLE

  • Pricing in the Growth Phase
  • Pricing in the Maturity Phase
  • Pricing in the Decline Phase
  • Case Introduction: SmartOps
  • Case Debrief: SmartOps
  • Competitor Pricing Models Analysis
  • Pricing through the Product Life Cycle Analysis
  • Disrupting Markets and Engaging in Coopetition: Case Studies

COSTING AND FINANCIAL ANALYSIS

  • Determining the Relevant Costs for Pricing
  • Incremental Costing Versus Fully Allocated Costing
  • The Importance of Contribution Margin
  • Calculating Break-Even Sales Changes
  • Analysing the Profitability of Price Changes

IMPLEMENTING PRICE DISCRIMINATION IN COMPETITIVE MARKETS

  • Customer Segmentation Strategies
  • B2B Segmentation Strategies
  • Weber-Fechner Law of Pricing
  • Weber-Fechner and Pricing

PRICING STRATEGIES

  • Pricing Your Least Expensive Products
  • Pricing Your Most Expensive Products
  • Bundle Pricing
  • Creating Economically Sound Pricing Bundles
  • Customer Segmentation Strategies
  • Product Line Pricing Analysis
  • Bundle Pricing Analysis
  • Implementing Price Discrimination in Competitive Markets

PRICING PSYCHOLOGY

  • Determine Effective Pricing Communication Tactics
  • Managing Customer Risk to Maximise Value
  • Strategic Pricing Tools and Application
  • Determine the Product/Service Economic Value
  • Create Tiered Offerings to Drive Margin and Growth
Online Courses
Note
Customized Schedule is available for all courses irrespective of dates on the Calendar. Please get in touch with us for details.
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Due to the recent COVID-19 pandemic, we've decided to offer live online webinar training classes for all of our courses.


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Live Online Training

Now participate in a live online course for a highly discounted fee of Only $850, as a limited introductory offer.

(Terms and conditions apply)