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Implementing Value Based Pricing

Many companies in Europe and the USA are now exploring Value Based Pricing (VBP) as an important route to improving profitability and achieving an acceptable return on investments on product and technology development. VBP is an attractive option and has many advantages over conventional pricing methods, especially for differentiated products and services that deliver real and measurable customer impact. Although a newcomer to the suite of pricing tools, VBP has captured the imagination of senior executives who are seeking to capture more of the Value that their organisations create through more sophisticated pricing. Making VBP happen successfully n YOUR organisation, however, demands a well thought through strategy. This course will give you the necessary tools to build this strategy.

Turning 'Theory' into 'Practice'?

In Implementing Value Based Pricing, we focus very closely on the unique value our products and services provide to its clients – specifically how its products or services impact on the business. Understanding this value, and being able to measure it, will enable the organisation to price its solutions according to the value clients gain from using their solution. This offers a much better alternative to deep discounting which destroys brand, credibility and relationships. Real life case studies and presentations from senior executives who have grappled with these problems will build your confidence in implementing VBP successfully.

Who should attend?

This course is designed for CEO, CMO, CFO, CSO and other senior managers who are in charge of Product marketing and/or are involved in a Pricing Council.

Key areas to be covered in the programme and documentation

Brief description of VBP
• Critical comparison of VBP with conventional pricing methods
• Why VBP is an attractive option
• What academic pricing research tells us

Definition and measurement of value
• The Value Triad©: A means of understanding what value you deliver, according to your customer
• Analysing Customer value
• Important Measures to quantify value drivers for the customer: how to quantify cost-reduction and revenue-gains
• Software tools - to help your sales people assess economic value of their offer at point of sale/during customer dialogue

Nature of the VBP Journey
• Key Hygiene factors & considerations required for VBP to succeed
• The Steps for Implementation: The Seven R Framework©
• Setting up your own Pricing Council
• A Successful Journey – Live Case Study by Videolink

Role of the Champion
• Visionary leadership
• Herding Cats – getting the whole team on board
• Removing roadblocks and obstacles

Review of Case Studies
Intention here is to bring in an executive from one of the cases and get him to stay on to participate in the round table
• Selection of four/five real case studies
• Speciality Chemicals
• Logistics
• Lubricants
• Medical Devices
• Biotechnology

Round Table Discussion
General discussion of the challenges and opportunities that delegates anticipate in
implementing VBP successfully in their businesses.

Benefits to you

• Aligning price more closely to value delivered
• Understanding how your customers measure value, and thus how you can add value
• Customising pricing according to individual customers, to reflect individual value, giving greater flexibility and greater perception of a focused, value-adding solution
• Recognising why VBP is an optimal approach in many cases
• Entrenching the notion of ‘Value’ throughout the organisation: buy-in from all is essential for the model to succeed
• Cut down on complex, contradictory and confusing pricing which are difficult for sales people to understand and impossible to explain
• Ensuring executive and operational-team buy in to the approach, and fully see the value in VB Pricing to them and the organisation

Companies already benefiting include:

Duration of Course

2 Day Course

Course details

This course is currently only available as an in-house option. For more information, and a quote, contact our team on +44 (0)20 3002 3057, or by email at ProfessionalTraining@iihc.org

Looking to train larger teams in this subject?

dzingim@marcusevansuk.comTailored in-house/in-company training courses and bespoke strategy workshops designed and delivered on-site throughout Europe according to your specific requirements.

All management, personal development and project management public courses featured in our Course Directory are also delivered on an In-Company basis.

Click Here for information on how this course can be delivered for you as an In-Company Training Solution

 


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Further information

UK Enquiries: +44 (0) 203 002 3057
or dzingim@marcusevansuk.com

Non-UK Enquiries: +420 (0)2 5570 7246
or training@marcusevanscz.com

North American Enquiries: +1 312 540 3000 X6714 or emilyj@marcusevansch.com

dzingim@marcusevansuk.com - Marketing Manager EMEA - Professional Training


UK Enquiries: +44 (0)20 7647 2383 : salesenquiries@marcusevansuk.com
European Enquiries: +420 (0)2 5570 7246 : training@marcusevanscz.com

Testimonials

"This course will allow my company to develop its existing strategies to a much greater and hopefully profitable level."

Managing Director, Tarmac