Overview

Of the 4Ps of marketing, pricing is the only ‘P’ that generates revenues for the firm. Pricing decisions affect an organization’s top and bottom lines in the short and long term. While pricing decisions need to be managed at a strategic level, firms often do not pay sufficient attention to pricing decisions. Pricing decisions also tend to be complex and must be made within a prescribed legal framework, as these are affected by economic, marketing, organizational, and psychological factors. This course will enable participants to cultivate an appreciation of the importance of pricing. It will develop the participants’ basic analytical skills, conceptual abilities, and substantive knowledge in the field of pricing. The programme will further develop a systematic framework for understanding, assessing, formulating and implementing pricing policies and approaches.

Objectives

This course aims to nurture a holistic and strategic understanding of pricing and strategic pricing decisions amongst all participants. The course has multiple objectives:

• To develop a strategic view of pricing.
• To develop a conceptual understanding of various pricing objectives.
• To develop an understanding of how consumers view and react to prices and pricing approaches.
• To develop a framework for identifying the right price metrics, price structures, and price levels.
• To help achieve these objectives, the course focuses on developing appropriate concepts, methods, and new approaches for formulating a pricing strategy.

Content

The programme covers a wide array of topics that contribute to understanding and implementing strategic pricing decisions. An indicative topic list is given below:

• Consumer Price Perceptions
• Drivers of Price
• Cost
• Value
• Market Sizing
• Strategy
• Optimizing Prices through Price Differentiation
• Psychological Pricing
• Price Competition
• Laws and Ethics in Pricing

For Whom

The programme is optimally designed for mid-level and senior managers engaged in pricing decisions. The programme will benefit participants from the corporate sector as well as from the government and public sector across diverse industries. It is suited for managers in diverse roles in the domain of both B2B as well as B2C marketing (consumables/durables/services). Managers working in the domains of finance, consulting or general management would also benefit as they directly or

indirectly deal with pricing decisions. An indicative list of industries would be FMCG companies, pharmaceuticals, services (restaurants/hotels), telecom, ecommerce, market research, events management, automobiles, petro products, real estate apparels etc.

Enquiry and Registrations

Management Development Programmes (MDP) Office

Indian Institute of Management Indore
Prabandh Shikhar, Rau-Pithampur Road
Indore 453556, Madhya Pradesh, INDIA

Email : mdp@iimidr.ac.in
Tel. : +91-0731-2439726 / 0731-2439720 / 0731-2439728 / 0731-2439666
Fax : +91-731-2439800