Price is the most important decision we will make as marketers. It is what brings profit into the company. It’s proof that all our other marketing activities are working. But, pricing is also one of the most misunderstood fields of business. Many companies actually devote the least amount of time to it - either because they don’t fully understand how it works or because they think it’s boring.
Now, if you think that price setting is at all dry or boring, think again. In this course, you’ll see how good pricing practices can transform every type of business - big or small. Each lesson is full of fun and interesting characters, each of whom will teach you another foundation of pricing.
Journey with us to the scenic mountain tops of southern Italy, where Alessandro the mango seller will teach us about the relationship between price and value.
Meet Bob the Baker, who will show us how a clever understanding of business models helped him transform his bakery into the artisan store it is today.
Step into the shoes of a newly minted CEO coming face to face with competition for the first time. Watch how, like a game of chess, each must be able to predict each other’s moves in the risky game of price setting.
Spend a day with Fiona the fish seller, in the lovely port city of Ferncomb. See how she uses her knowledge of the volume-price tradeoff to determine the perfect price for her fish.
Those are just some of the characters you’ll meet in this fresh new take on pricing strategy.
In this course, you’ll learn:
How your business model affects your prices
When you should worry about price wars
How to know if you have a structural advantage
Whether cost-based pricing or value-based pricing is right for you
How to determine the elasticity of your product
And so much more!