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Product Pricing Strategies
Course Level
Study Method Online
Course Duration 10 Hours
Start Date on going
Awarding Body
  • Full Fee: £ 120
  • Discount: £ 30
  • Pay Today: £ 90
Module Overview

Service Pricing Strategies

How do organisations determine the ideal prices for the products and services they offer? Is it simply a case of maximising profits? Or are there additional factors to consider? The answer is of course the latter – pricing strategies are about far more than bringing in basic revenues. Price can influence not only the affordability of a product, but also its appeal. Excessively high prices can be off-putting for some, but also suggest exclusivity and luxury.  By contrast, rock-bottom prices attract some, but to others convey a sense of poor quality. The question being – how and where do you draw the line?

This advanced tutorial has been designed for anyone working in business ownerships, senior management, sales, marketing or product development. Explore the function and value of price, along with pricing objectives, profit-oriented objectives and key factors that affect price determination. Addition topics introduced include the product’s value to the buyer, the different types of costs, basic methods for price determination, ‘the going rate’ pricing and more.

Objectives
  • Explain the objectives of pricing
  • Describe the factors which effect price determination
  • Explore various pricing strategies
Programme Content

Topics:

  • The Function and Value of Price
  • Pricing Objective
  • Profit- Oriented Objectives
  • Sales Volume- Oriented Objectives
  • Factors Affecting Price Determination
  • The Product’s  Value to the  Buyer:
  • Types of Costs
  • The Basic Methods of Price Determination
  • The Going Rate Pricing
Target Audience
  • Business managers and entrepreneurs with desire to improve their abilities
  • People working in PR, advertising and sales departments
  • Anyone considering to start their own business
  • Individuals looking to enhance their CVs
  • Existing marketing professionals looking to develop their CPD
Prerequisites

No prior knowledge is required to take this unit.

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