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Pricing for Profitable Decision Making

Assess the Value of Products to Consumers

Previously named: Pricing Strategies and Tactics
Professor Lakshman KrisnhamurthiThis program helps dispel the myths and ambiguities of setting prices and inspires you with invaluable theories, tools and strategies to help you successfully navigate the complicated world of pricing. In this program senior faculty of the Kellogg School’s Marketing Department highlight the fundamental principles that should guide the formulation of a coherent pricing strategy. What costs are relevant in the pricing decision? How does one price based on value and what are the consequences? What are the costs and benefits of segmentation? How should you respond when a competitor cuts their price? 




Product Week
You may combine this program with Innovating New Products and Services to participate in Product Week. When taken consecutively, these programs are offered together at a discounted price. Combining the programs provides a week long executive level summary of the approach to managing product portfolios taught in the highly acclaimed Kellogg MBA program.

Upcoming Sessions (Fee includes lodging and most meals)
Session Date Cost
October 16-18, 2013 $6,000 Apply
April 6-9, 2014 $6,300 Apply

Program Materials

This program is designed for all managers responsible for making pricing decisions, as well as for engineering and finance executives. While not highly technical, the program requires the ability to work with quantitative information and spreadsheets.
In this program, you will learn to:
  1. Integrate pricing into an overall marketing strategy
  2. Determine the proper role of costs in pricing
  3. Set prices in a highly competitive environment
  4. Understand the interaction between pricing and distribution
  5. Assess the value of a product to a customer
  6. Determine when to use alternative pricing tactics

 

Setting a Pricing Strategy
  1. The pricing process
  2. What is required to set a pricing strategy?
  3. Examples of pricing strategies

Issues in Pricing and Distribution
  1. Pricing through a distribution channel
  2. Pricing to coordinate the channel
  3. Dysfunctional channel pricing strategies

The Role of Costs in Pricing
  1. Types of costs and general myths
  2. How should costs affect pricing?
  3. Differential impact of variable and fixed costs on pricing

Segmented Pricing
  1. What is segmented pricing?
  2. Types of segmented pricing including demographics, customer benefits, timing, quantity, location and bundling
  3. How to implement segmented pricing

Value Pricing
  1. What is value pricing?
  2. How to set prices by focusing on value to the customer
  3. Issues in implementing value pricing

Pricing in a Competitive Market
  1. Price wars
  2. Interaction between price and capacity
  3. Price and differentiation
New Product Pricing
  1. Factors to consider in setting price of new products
  2. Relationship between price elasticity and price
  3. How to set price of new products
Lakshman Krishnamurthi - Academic Director; A. Montgomery Ward Professor of Marketing

Eric T Anderson - Hartmarx Professor of Marketing; Director of the Center for Global Marketing Practice

Anne Coughlan - John L. and Helen Kellogg Professor of Marketing

Rakesh Vohra - John L. and Helen Kellogg Professor of Managerial Economics & Decision Sciences; Director of the Center for Mathematical Studies in Economics & Management

Featured Faculty Video

  •   Professor Lakshman Krishnamurthi: How pricing strategies vary based on different market realities

What Past Participants Say

  • "The professors are experts and extremely enthusiastic with every topic. My expectation was to come away with three key tools, and I walked away with at least ten."
    - Product Director, Johnson & Johnson
  • "I would recommend this program to all managers and executives. Anyone dealing with pricing and value will benefit from this program!"
    - Sales Manager, James Hardie Building Products
  • "This program takes you away from your way of looking at pricing and opens many doors to broaden your horizon and force you to look at pricing differently."
    - Director of Pricing Development, Western Union FSI

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