Pricing for Profit: How to Apply the Psychology of Pricing

Pricing for Profit: How to Apply the Psychology of Pricing
Some of your customers would pay more. Of course, your customers would never tell you this. Which is why pricing is one of the most important things for a business to get right, and one of the hardest.  Price too low and you are leaving money on the table. Price too high and you will scare customers away. This is where the Psychology of Pricing comes in. Your customers – both B2C and B2B - make decisions all day long and many of those decisions are almost all non-conscious. By understanding the psychology behind how people make purchases choices, you can successfully charge a higher price.



Course Type 
Regional or in-company

Learning Format
Classroom based

Course Duration 
1 day

Further Development Opportunities
The Psychology of Influence and Persuasion

What do you get?
Workbooks, guides and checklists and a Certificate of attendance. 
 
Course overview
How you set your prices has a direct and immediate impact on the bottom line. Your prices change buying behaviour, drive the profitability of your business and even change the competitive landscape. 

This one-day workshop is designed to be an engaging and practical introduction into the science of pricing. It will introduce you to three core elements: customers, competitors and company success. You will be shown how to capture more value and support smarter pricing decisions. 

Who would benefit?
Marketing Managers, Sales Managers and sales teams, Branch Managers, Business owners and Directors.

Objectives 
- Accurately calculate your costs
- Understand market value
- Extract your customer’s budget
- Set the right prices
- Increase your profitability

Course Content
- Voodoo pricing? There’s a better way.
- Understanding Customers’ price perceptions
- Price vs Value
- Pricing Research
- Price segmentation
- Standing out from your Competitors
- Competing with value players
- Fighting price wars
- Fixing the right price – structures, segments and stairways
- Communicating prices with positive perceptions
- Action Plans and next steps

How to register
Training for this course is booked on demand. To register your interest please contact Paige Godsell at paige.godsell@bmf.org.uk or call 02476 854980.

Where
England

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