Pricing in a Crisis: Best Practices for Weathering the Storm
This course will be held regardless of COVID-19 events. It will be delivered remotely over several days.
Four 1.5 hour modules, 2 per day with 30 min break between
In times of crisis, market demand often falls and pressure to provide pricing relief to customers skyrockets. How well you set your pricing strategy and how well you negotiate your price is likely the largest factor (under your control) affecting your profitability. It’s imperative that you have a Pricing Crisis Preparedness Plan to weather this storm. Time is critical – you either opt quickly to proactively influence the market or you unintentionally become reactive to your customers’ and competitors’ behaviors. Reactive behavior will lead to severe price and profit declines. This course builds off of best practices for good times, with a special focus on times of crisis, so you not only weather this crisis, but you gain the best practice skills to come out of the downturn strong.
- Business directors; market/product managers; pricing managers
- Sales managers; sales professionals
Live virtual workshop spread across 2 days. The course covers four modules (2 per day with a 30 minute break between modules. Each module approximately 1.5 hours).
After completing this workshop you will be able to:
- Prepare a Pricing Crisis Preparedness Plan.
- Apply practical advice on pricing strategies immediately – for good times and in crisis.
- Make faster, smarter discounting decisions with the use of simple tools and templates.
- Have confidence in pricing power and capabilities to hold price, delay discounts or increase price as appropriate for your market dynamics
The course grounds participants in pricing strategy/settings as well as the critical aspects of price execution with a special emphasis on crisis times including:
- Behaviors to influence the market and customers.
- Best practices for holding, delaying price relief or increasing price – for both normal and good times.
- Preparing a Pricing Crisis Preparedness Plan
- How to make smart price discounting decisions…and avoid price leakage
Joanne M. Smith, president of Price to Profits Consulting and former DuPont corporate head of marketing, pricing and customer loyalty, assists B2B companies in transforming their pricing performance to enhance long-term profitability and growth. Joanne has broad and diverse experience leading B2B marketing, pricing, business development and customer loyalty initiatives, generating millions of dollars to bottom lines in multiple industries, including chemicals, industrial, polymers, food/nutrition, agricultural, automotive, safety, and electronics. She is an expert in pricing and profit management and transformation, product management and development, cross-functional collaboration and leadership, business transformation and change management, customer loyalty initiatives, B2B marketing strategies, marketing and customer segmentation, and team leadership. Joanne is also the author of “The Pricing and Profit Playbook” and “The Price Negotiation Playbook.”
- Member: $995.00
- Non-Member: $1195.00