Pricing Strategies in Tough Times

Synopsis

Research shows that the greatest predictor of long-term business health is the size of the organisation’s gross margins actually achieved. And, the greatest predictor of that is the degree of control the organsation has over the prices it sets in the market. Is it a Price Maker, or a Price Taker?

Organisations have a lesser degree of control on pricing as they continue to operate in an environment where “supply exceeds demand” and buyers continuously take great strides to “commoditise” the vendors’ products or services. Senior Management in organisations who are aware and take the necessary measures to deal with this “brutal fact” will survive these tough times and be ready for growth in the future.

During these tough times, organisations face immense pressure from their customers to reduce the prices of their products and services substantially. And herein lies the dilemma; How can organisations continue to reduce prices to retain the customers and yet achieve the competing objective of achieving improved shareholder returns? And how much more can they afford to reduce the prices?

Sales and Marketing professionals will be aware that reducing the price is one of the easiest tasks. They will also realist that it is very difficult to increase the price after they have reduced it. Pricing is a strategic issue and it is in every organisation’s interest to set prices appropriately.

Learn how best-practice companies price their products and services in these tough times and apply them to your industry. Join other

professionals who have attended to know how to price strategically during these times. You will realise that it is a myth that organisations must always reduce prices during these times.

Benefits to You

Price Impact on Margins – Appreciate the significant impact of price revisions on revenue and margins, and take the necessary actions to manage customers’ incessant pressure to reduce prices.
Change your Perceptions – Perceptions drive all our actions. Understanding the myths of pricing in tough times will enable you to change your perceptions about pricing in these times.
The Pricing Tsar – Implement the concept of the pricing tsar in your organisation so that pricing continues to be strategic.
Best Practices – Learn how successful companies price their products or services profitably during tough times, have improved cash flow while maintaining a competitive advantage.
How the Best Buyers Buy – Get into the mind of the best buyers and understand their approach in buying. Use this knowledge to map out strategies to deal effectively with them.
Eleven Ways to Increase Price – Apply eleven proven ways that organisations can increase price, without increasing their prices.
Avoiding Price Wars – Learn how to avoid unnecessary price wars (wars initiated by rumours or wrong market information).
Fighting and Winning Price Wars – Sometimes, a price war is inevitable. Learn a structured approach to fight and win price wars, and still be able to increase prices after the war.

Programme Outline

Basic Components for Improving Financial Performance
Relationship Between Price, Volume and Margins
The Case for a Pricing Tsar and how it Should Work
Understanding Customers’ Needs in Tough Times
Myths about Pricing in Tough Times
How Majority of Firms in Industry set Prices
Sharing of Best Practices
The Foundations of Marketing and Pricing in Practice
The Different Pricing Strategies Available
Implementing Value Added Pricing
Pricing in a Declining Market – Seven Things Not to Do
The Dangers of Discounting
Eight Point Guide to Price Increase
Bundling Versus Breaking
Eleven Ways to Increase Price, Without Increasing Price
How the Best Buyers Buy and How to Deal with Them
Fighting the Day-to-Day Pressures on Price
Fighting and Winning Price Wars

Who Will Benefit by Attending

Sales & Marketing Vice-Presidents/Directors
National/Regional Sales & Marketing Managers
District Sales Managers
Sales & Marketing Executives
Entrepreneurs

Programme Leader

This programme will be conducted by:
Ian Ruskin-Brown is an author, international marketing trainer and consultant. His most recent books are “Mastering Marketing” and “Marketing the Service Advantage.”

Ian has gained extensive experience in Marketing, working in the operational and planning functions in Marketing Management for multinationals like Esso Petroleum [now ExxonMobil], Goodyear Tyre, Kimberly Clark, Trebor Sharpes, and Reed Paper Group.

Since 1973, his career has oriented towards the academic and consultancy, working as a Senior Lecturer at the University of the South West, UK with visiting lecturerships at the Universities of Bath, Bristol, Oran (Algeria) and the NIHE Limerick (Eire).

Mr. Ruskin-Brown is a full member of the Chartered Institute of Marketing, the Business Graduates Association of MBA’s, a fellow of the Institute of Sales and Marketing Management, UK, a full member of the British Institute of Management, a full member and qualified as a Diplomate of the Market Research Society. He was with the Training Arm of the Chartered Institute of Marketing, U.K. for thirteen years.

In early 1983, Ian set up Ruskin Brown Associates to provide consultancy and training in Sales and Marketing and Market Research activities. This activity continually brings him into contact with a wide range of marketing situations in United Kingdom, United States of America, Asia and Europe. This knowledge enables him to recognise the different cultures and consumer buying behaviour.

Ian’s clients include organisations like Ericsson, IBM International Business School, Rank Xerox, Hitachi International, Courage Breweries, ChevronTexaco, Wace Industries (world’s largest printing company), Bank of Ireland, Abbey National and Cambridge University Press.

Venue	The Ritz Carlton Kuala Lumpur
Duration	Two Days
Time	0900 to 1730
Fee	RM3, 922 per person for local delegates and US$1, 250 per person for foreign delegates [price is inclusive of 6% GST, programme documentation, tea breaks and lunch]
Enquiries	+603-27131165
Email	info@pkmh.com or pkmh.training@yahoo.com