| Dates | Location | Tuition |
|---|---|---|
| - |
Philadelphia
|
$7,200 |
Are you pricing too high or too low? Do you have the right pricing process to help you capture the value you have created in the marketplace? Studies have shown that pricing is the most critical profit driver in today’s competitive business environment. Yet few firms think systematically about their pricing strategies or acquire the confidence to leverage their pricing strategies to capture maximum value. An ad-hoc pricing strategy or a trial-and-error approach to pricing can significantly reduce a firm’s bottom line.
Pricing Strategies will give you a powerful set of tools and frameworks for developing your pricing strategies. Faculty will draw upon theoretical and empirical research to help you understand your pricing problems. They will show you how these approaches can be applied to specific challenges in diverse industries, including complex decisions such as pricing new products, products with short lifecycles, dynamic pricing, and bundling products and services.
Tuition for Philadelphia programs includes lodging and meals. Prices are subject to change. Program Consultants are available to provide more information on course specifics and discuss how this program might meet your needs. Please contact them by e-mail or by telephone at +1 215.898.1776. Plan your stay.
During this program, faculty from the Wharton Marketing Department will present a step-by-step process for pricing. They will also share their research on pricing and use case studies to illustrate the right questions to ask when making pricing decisions.
Session Topics for the Pricing Strategies Program
- Pricing for New Products
- Two-Part Pricing
- Bundling of Services
- Using Conjoint Analysis to Measure Price Sensitivity
- Financial Impact of Pricing Decisions
- Assessing Lifetime Value of Customers
- Negotiation Strategies in Pricing Decisions
- Pricing for Short- and Long-Lifecycle Products
- Price Discrimination and Performance-Based Pricing
- Product Line Pricing
- Psychological and Ethical Pricing Considerations
- Legal Issues in Pricing
Related Articles
Wharton@Work: E-Buzz
- Sony’s Headlines Reveal Valuable Lessons (October 2009)
- Marketing Against the Tide: Go Where Rivals Fear to Tread (October 2008)
- Beyond Price Cutting: Strategies for Pricing in a Downturn(April 2008)
- "Pricing Mistakes and Their Antidotes"(March 2006)
- "Wharton Marketing's 'Marketing Challenge'" (March 2005)
Knowledge@Wharton
Requires a one-time complimentary registration to Knowledge@Wharton.
- "What Consumers — and Retailers — Should Know About Dynamic Pricing" (2005)
- "Choosing the Wrong Pricing Strategy Can Be a Costly Mistake" (June 2003)
- "The Hidden Dangers — and Payoffs — of 'Targeted Pricing'" (May 2003)
Program Logistics
The program officially begins on Monday morning and will conclude with lunch on Thursday. Hotel accommodations are provided Sunday through Wednesday evenings.
About the Book
In Smart Pricing, Wharton professors and renowned pricing experts Jagmohan Raju and Z. John Zhang draw on examples from high tech to low tech, from consumer markets to business markets, and from U.S. to abroad, to tell the stories of how innovative pricing strategies can help companies create and capture value as well as customers. They teach the pricing principles behind those innovative ideas and practices.
Click here to download the introduction and first chapter (PDF, 368K).
This program is essential for anyone responsible for designing, evaluating, and implementing pricing strategies or for executives charged with ensuring the overall profitability of the firm. In particular, mid- to senior-level executives in product development, marketing, or accounting and finance will benefit from this program.
We encourage companies to send cross-functional teams of executives to leverage the application and value of the program. Additional group benefits are available when four or more participants attend a program.
Understand the fundamentals of pricing, and acquire a set of quantitative techniques for making profitable pricing decisions with session topics such as Value Pricing, Using Conjoint Analysis To Measure Price Sensitivity, and Managing Price Competition. You will:
- Understand customer willingness to pay and its relationship to pricing strategies.
- Learn the latest pricing practices across diverse industries.
- Find pricing opportunities to distinguish your product or service.
JAGMOHAN S. RAJU, PhD
Professor of Marketing
Chairman, Wharton Marketing Department
The Wharton School
Z. JOHN ZHANG, PhD
Professor of Marketing
The Wharton School
His new book, co-authored with fellow Wharton Professor Jagmohan Raju, is Smart Pricing: How Google, Priceline, and Leading Businesses Use Pricing Innovation for Profitability. Drawing on breakthrough pricing research, it heralds a revolution in how companies establish pricing and measure its effectiveness.
"The Executive Wharton experience has provided me with a rigorous curriculum, top faculty, and high standards. Today’s executive leadership must continue to develop itself to ensure it stays in best of class. Using systems and statistical approaches to business solutions has proven effective over the traditional construction Ouija Board method. The Pricing Strategies program faculty has exceeded my expectations with their knowledge across all silos of business — mile deep. I attended this program with my controller and found it invaluable, as we now speak a common language."
—Tony Saldutti, Executive Vice President, Engineering Firm
