Pricing Strategy & Revenue Management

In today's hypercompetitive business environment, pricing is the strongest determinant of profit. Few firms, however, have developed a pricing strategy designed to capture the maximum revenue potential from their customers. This failure to address pricing in a systematic fashion can have an enormous negative impact on the firm's bottom line. In an attempt to help companies address this glaring shortcoming in their strategy, Professor Joern Meissner from the Kuehne Logistics University has created the Pricing Strategy & Revenue Management Executive Education Course as part of an industry outreach and information dissemination effort. The goal is to address the paucity of pricing expertise and satisfy the growing need for information about pricing strategies.

The program introduces managers to the fundamentals of pricing, helping them to develop a framework that is applicable within the context of their industry. Participants acquire strategies, tools and best practices for rigorously tackling pricing issues at both strategic and tactical levels. They will also be able to systematically identify opportunities to boost their firm's profits through improvements in pricing. Participants will leave the course with powerful insights into pricing issues and a new awareness of additional ways to drive business results via strategic pricing. The bottom line result is the ability to make more profitable pricing decisions for their companies.

The following is a non-exhaustive list of representative session topics:

Day 1:

• Introduction to Pricing & Revenue Management
• Basic Pricing Theory
• Basic Pricing Methodologies
• Financial Impact of Pricing Decisions
• Setting Profit Maximizing Prices

Day 2:

• Versioning Of Products
• Pricing for New Products
• Bundling: Theory and Practice
• Using Conjoint Analysis to Measure Price Sensitivity

Day 3:

• Dynamic Pricing
• Estimation of Key Data
• Communication and Negotiation Strategies
• Psychological Pricing Considerations
• Legal Issues in Pricing