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1-Day Workshop - May 8th

The Story Of Pricing:
A Baker’s Dozen of Case Studies in Pricing Decisions and Outcomes

TimSmith

Speaker:

Dr. Tim Smith, Managing Principal of Wiglaf Pricing and an Adjunct Professor of Marketing at DePaul University

Dr. Tim Smith provides strategic pricing support for entrepreneurial and globally leading firms. Dr. Smith’s research and consulting focus is in using quantitative and qualitative analysis to enable profitable decisions in the face of uncertainty. He began his career in quantum mechanics prior to a transition into sales and marketing.

When he entered the field of pricing, he found he could combine his passion for math with his customer facing experiences to help firms capture profitable customers. Dr. Smith’s second book is Pricing Strategy: Setting Price Levels, Managing Price Discounts, & Establishing Price Structures (Southwestern Cengage, 2011).

We have all heard that prices should reflect value, but how do executives put this paradigm into action? How does the value a firm puts on the table for customers to pick-up, translate into price captured through transactions? How is value reflected in price setting, price discounting, price communication, and pricing strategy?

In this workshop, we will look at over thirteen different case studies which collectively tell the story of pricing. The case studies come from industrial and consumer markets, services and goods, durables and consumables. They reflect the breadth of challenges that pricing professionals address and provide insights into the analytical approaches executives can use to address their opportunities.

The format of this workshop will rely upon level setting through fact dissemination, followed by instructor-facilitated attendee discussions of individual cases and potential alternative decisions. The goal of this workshop is to enable executives to address pricing challenges with a better understanding of the full complexity involved in the decision.

This workshop is designed for senior executives from sales, marketing communication, product design, pricing, and finance to better understand pricing decisions and outcomes, anticipate potential decision impediments, and communicate why the decision they are advocating is in the firm’s best interest.

Attendees will learn:

  • The gravity of pricing decisions on individual executives, careers, and the firms they serve.
  • Challenges firms face in communicating and capturing value.
  • How firms can practice price restraint profitably.
  • How the choice of the price structure is dependent on the structure of the market heterogeneity.
  • How pricing decisions influence outcomes in standards wars.
  • How firms have used an understanding of value from the customer’s perspective to drive pricing decisions

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