STRATEGIC PRICING FOR VALUE MAXIMIZATION

Duration 2 Days

Date: February 17-18, 2021

Mode:Offline

Program Partner

IMT Programs Alumni

PROGRAM CONTEXT

In most rms a signicant proportion of time and organizational efforts are directed at product development, packaging design, advertising campaigns, promotional programmes and distribution expansion. In effect 3 out of 4 Ps consume most of the rm’s management bandwidth. Interestingly the only P that brings in revenue, Price, receives less than its fair share of attention. Across Marketing and Sales teams, Price is often a discounting weapon that can effectively and rapidly build additional volume for a rm facing pressure to meet aggressive sales revenue targets, combat price cutting competitors, stimulate demand in a downturn. It is also used to block low priced substitutes, especially for materials and inputs in B2B environments where performance specs are pre-dened and branding has low importance for the Strategic Sourcing teams.

This programme is designed to bring back a serious focus on Price as a strategic pillar in a rm’s overall business strategy whether from the standpoint of brand positioning to build positive quality and image perceptions or as a driver of long-term business protability. It is relevant and applicable in all environments where volume and unit margin are unfortunately seen as an “Either – Or” trade off.

Using a structured set of conceptual tools and frameworks this course will open up new possibilities for rms to drive protable business outcomes involving techniques ranging from customer value-based pricing, price-based customer segmentation and the use of price discrimination that reects value expectations and value delivery.

LEARNING OBJECTIVES

  • Appreciate the true strategic value of Pricing to the firm.
  • Understand alternative approaches to Price setting such as Cost Plus, Perceived Value Based, Market Penetration Pricing, etc.
  • How to price strategically at different stages of the Product Life Cycle.
  • Framing a strategic response to competitive pricing moves.

DELIVERABLES

  • Managers will use Price as a critical strategic lever in brand positioning and for enhanced prot delivery.
  • Design a comprehensive price setting process that balances cost structure, competitive price levels and customer value delivery.
  • Maximize both brand prot and customer value through price-based segmentation.
  • Managing the rm’s P&L while facing intense price competition using a strategic approach – When, How and at what cost to respond.

PEDAGOGY

The instructors will use lectures, case studies, real life examples and application of conceptual frameworks to business problems. Participants will have opportunities to relate concepts learnt in class with their own business experience. Individual and group-work problem solving is involved.

TARGET AUDIENCE

Entry level to middle level Managers who are involved in pricing decisions either directly or indirectly. Managers from front line Sales, Marketing and Customer Management as well as Managers from Finance, Administration and Operations who work on cross-functional business teams with accountability for Sales Revenue and Profit.

Certification recognised by Industry Leaders

OUR PROGRAM DIRECTORS


Prof. Jishnu Changkakoti

Prof. Changkakoti is a marketing professional with over 23 years of experience in companies such as Johnson & Johnson and Samsung across multiple countries around the world.

He is a graduate of NIT Calicut, IIM Calcutta, and of the Executive Program in Mastering Design Thinking from MIT Sloan School of Management. In IMT Ghaziabad, Prof. Changkakoti teaches various courses in Marketing. In addition to his teaching duties, he is also a marketing consultant and trainer, and is a member of the consultant’s panel for Stanford University’s Seed programme.

Prof. Elkana Ezekiel

Prof. Elkana Ezekiel is an MBA from XLRI Jamshedpur with 28 years of FMCG industry experience in Marketing, Sales and General Management. He has worked in multiple product categories such as food, personal care, baby toiletries, feminine hygiene and OTC handling respected brands such as Parle-G, Stayfree, Johnson’s Baby, Band-Aid, Anacin, Savlon, Sugar Free and Nutralite. His work experience includes companies like Parle Products, Johnson & Johnson, Samsung and Zydus Wellness. In the course of his career Elkana has worked both in India and in the Asia-Pacic Region and held leadership positions such as VP (Marketing) at Johnson & Johnson India and Regional Marketing Director Johnson’s Baby Asia-Pacic based in Singapore. His last full- time industry role was as Managing Director of Zydus Wellness Limited.

Since 2015, Prof. Elkana has been pursuing a career in teaching and business consulting. He has been with Institute of Management Technology Ghaziabad as an Adjunct Faculty in the Marketing Area since July 2016 and teaches students in the MBA full time program. His courses include Pricing for Value, Marketing Management, Product and Brand Management and New Product Management.

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