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Business Planning: How to Create a Profitable Pricing Strategy
In this course, you will learn how supply and demand impact the price of your product or service as well as how the market influences the price.
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Learning Outcome
- Determine the best pricing model for your business
- Find out the three different types of product roadmaps you can use
- Learn how to create a higher perceived value and charge a higher price for that
- Learn how to calculate the direct margin for your product or service
- Determine what price to charge at retail
- Discover insightful strategies to maximise pricing and increase margin
- Find out ways to increase customer's perceived value for your product or service
- Learn how to pick the ideal pricing model for your business
- Identify the advantages and disadvantages of each pricing model
- Optimise your products and services for the highest profit margins
Course Overview
The price of your product or service can determine whether your business succeeds or fails – yet many entrepreneurs rely on guesswork and rough estimates. This course reveals a proven methodology for developing a pricing strategy, as well as ways to increase customer perceptions of value so you can justify higher prices and boost margins.
Learn how supply and demand for your product or service impact price, how to quantify the level of value you’re delivering, and how market forces impact your pricing. This course will also guide you through which pricing model is the right fit for your business.
Course Description
This course is an excellent learning opportunity for those who are passionate about the topic and who are interested in a successful career within the relevant industry. Professionals currently working in this field who wish to brush up on their knowledge and advance their careers may also enroll in this program.
In the Course, you will find a number of engaging, in-depth modules that will provide you with comprehensive theoretical knowledge that will enable you to succeed in your career. As proof of your completion, you will receive a free e-certificate from Learndrive.
Using computers, tablets, smartphones, and other internet-enabled devices, you can access the course modules at your own pace. Invest in your professional development today and learn skills that will lead to your dream job. Become a career leader by taking this course online.
What Do You Get With The Course?
- Premium Video Materials in bite-sized format for the most accessible learning experience
- Free e-certificate after completing the course
- Flexible study time and pace
- Instructor-led Course
Course Design
Students can access the course using any internet-connected device through our online learning platform. You may study at your own pace since there are no formal deadlines or teaching schedules.
Certification
The learners who pass the course will receive a Learndrive Certificate as a badge of accomplishment. The e-certificate is free of charge. There is a small fee, however, if you want a hard copy of your certificate.
Who Is This Course For?
The course is right for you if you already work in this industry or want to make the transition. This Course is designed to enhance your expertise and improve your CV.
Requirements
Students from all backgrounds are welcome to participate in the online training. There are no requirements for participation. The only prerequisite for studying this Course is an interest in learning and a good grasp of English, mathematics, and computer skills.
Course Instructor
Ken Burke
San Francisco-based serial entrepreneur Ken Burke is the founder and CEO of ENN. He sold one of the most successful eCommerce software platforms in 2016, generating more than 2 billion dollars a year for retailers. He is now focused on helping entrepreneurs reach their goals. He is often on screen doing the actual teaching in much of the content ENN produces. He shares everything he has learned over the last 25 years. This is your chance to learn from an expert.
Accreditation
This course is accredited by CPDQE. The demand for professionals to engage in Continuing Professional Development is escalating, irrespective of the industry, career stage, or job function. CPD serves as an impactful mechanism for skill enhancement, maintaining the relevance of academic credentials, and strategically advancing one’s career.
This CPDQE Certified Course will ensure that you have obtained the required CPD trainings for your professional development.
What Students say about us
The courses on the website are well designed, very clear and you can learn a lot of useful skills from them. A very
Enjoying the course at my pace, repeating what I did not understand and learning
Frequently Asked Questions
Everything you need to now about he product billing.
To purchase a course, simply select the course you want, choose your plan from the top right side, and click on the ‘Take this course’ button to initiate the checkout process. You will receive access as soon as the payment is processed.
We accept various payment methods, including credit/debit cards, PayPal, and bank transfer. If you don’t have a card or paypal, contact us for alternative payment methods.
If you’re not satisfied with our course, you can request a refund within 14 days of purchase. We follow a no-questions-asked refund policy, and you will receive a full refund.
Yes, upon successful completion of the course and exam (if applicable), you will receive a free digital certificate that can be downloaded and printed.
Yes, our courses are CPDQE accredited. CPDQE is an independent body that accredits courses and events for continuous professional development, ensuring they meet high-quality standards.
You can verify your certificate by visiting the Learndrive certificate verification page and entering your certification code. This will confirm the authenticity of your certificate.
To redeem your voucher, first visit the voucher redemption page. Enter your personal details and paste the voucher code into the designated field (do not type the code manually). After that, click the “Send” button. You will receive your login details via the email address you provided. Once you have received them, log in to our website and access your course from your dashboard.
Course Curriculum
| Course Content | |||
| Part 1 - The Fundamentals | |||
| Introduction | |||
| Pricing Strategy Overview | 00:03:00 | ||
| What Pricing Communicates to Your Customers | |||
| What Price Communicates | 00:05:00 | ||
| Scenario-Based Pricing | 00:02:00 | ||
| Types of Pricing Strategies | 00:02:00 | ||
| What Investors are Looking for in Your Pricing Strategy | 00:02:00 | ||
| Test Your Pricing | 00:01:00 | ||
| Pricing Model Basics | |||
| The 3 Pricing Models | 00:03:00 | ||
| Guess The Pricing Model | 00:03:00 | ||
| Case Study T-Shirt Pricing | 00:02:00 | ||
| Examples of Pricing Models | 00:02:00 | ||
| Part 2 - Competition & Margins | |||
| Pricing Strategy and Your Competitors | |||
| Common Pricing Strategy Mistakes | 00:03:00 | ||
| 5 Key Steps to Pricing Strategy | 00:02:00 | ||
| Researching Your Market | 00:05:00 | ||
| Case Study Researching the Competition | 00:03:00 | ||
| Pricing Strategy and Your Margins | |||
| Know Your Margins | 00:10:00 | ||
| Average Industry Margins | 00:03:00 | ||
| Part 3 - Price Influencers | |||
| Introduction | |||
| Pricing Influencers Explained | 00:02:00 | ||
| Understanding Price Influencers | |||
| Pricing Variable 1 – Competition | 00:02:00 | ||
| Pricing Variable 2 – Demand | 00:03:00 | ||
| Pricing Variable 3 – First of a Kind | 00:03:00 | ||
| Pricing Variable 4 – Uniqueness | 00:03:00 | ||
| Pricing Variable 5 – Scarcity | 00:03:00 | ||
| Pricing Variable 6 – Quality | 00:03:00 | ||
| Pricing Variable 7 – Margin | 00:03:00 | ||
| Pricing Variable 8 – Customer Perception of Value | 00:02:00 | ||
| Calculate Your Score | |||
| Scoring Your Pricing Influencers | 00:05:00 | ||
| Part 4 - Pricing Models | |||
| Introduction | |||
| Overview of Pricing Models | 00:01:00 | ||
| Pricing Models | |||
| Cost-Based Pricing Pros and Cons | 00:04:00 | ||
| Market-Based Pricing Pros and Cons | 00:04:00 | ||
| Value-Based Pricing Pros and Cons | 00:06:00 | ||
| Choosing a Pricing Model | 00:03:00 | ||
| Common Mistakes in Pricing | 00:03:00 | ||
| Setting Your Price Case Study | 00:04:00 | ||
| Final Quiz | |||
| Final Quiz: Business Planning: How to Create a Profitable Pricing Strategy | 00:20:00 | ||
| Course Guides | |||
| Create a Profitable Pricing Strategy The Fundamentals – Course Guide | 00:10:00 | ||
| Create a Profitable Pricing Strategy – Competition and Margins – Course Guide | 00:08:00 | ||
| Create a Profitable Pricing Strategy – Price Influencers – Course Guide | 00:10:00 | ||
| Create a Profitable Pricing Strategy – Pricing Models – Course Guide | 00:10:00 | ||
| Worksheet | |||
| Create a Profitable Pricing Strategy – Planning Worksheet.xlsx [Download] | 00:05:00 | ||
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