Pricing Strategy and Revenue Management Course
Accounting, Finance and Budgeting Training

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Pricing Strategy and Revenue Management Course
Course Overview:
The course on Pricing Strategy & Revenue Management is aimed at equipping the participants with theoretical and practical skills for formulating pricing policies as well as managing revenue.
This is a very practical oriented course and by the end of it, the participants would have acquired an understanding of the concepts of value based pricing, how to assess customer value, and the various pricing options that are available to them.
The course consists of mainstream topics such as the determination of the cost which affects the selling price, the strategies for communication, and the strategy of pricing new products or offers within the market. There is also coverage of key principles of revenue management RM such as management of demand, forecasting and allocation of inventory.
The participants will appreciate the inter disciplinary character of pricing and revenue management and their application in the formulation and deployment of revenue management systems for better business performance.
This course is suitable for both middle and senior managers such as those in marketing, finance, and product management who would want to sharpen their competencies in pricing and management of revenue.
Course Objectives:
By the end of the Pricing Strategy & Revenue Management training Course, participants will be able to:
- The fundamentals of value-based pricing
- How customers perceive price and form value perceptions
- How to analyze and choose among different pricing alternatives
- The role of cost information in the setting of prices
- Developing & implementing the best value-based pricing strategies
- Learning the art of pricing communications strategies
- Exploring the latest in pricing strategies & paradigms
- Examining common pricing challenges
- Investigating the multi-disciplinary nature of pricing
- Pricing new products & services
- Understanding the role of economics in pricing
- Unlocking the power of pricing
Who Should Attend?
The Pricing Strategy & Revenue Management training course, is ideal for :
· Mid- and Senior-Level Executives
· Vice-Presidents and Directors of Marketing
· Finance, Sales, and Planning Executives
· Product Managers
· Entrepreneurs and Executives in Product Development
· Managers Facing Significant Price Competition
Course Outlines:
Introduction to pricing strategies
- Business foundations for successful pricing strategies
- Pricing – perspectives from different industries
- Value-Based Pricing
- Types of pricing strategies
- Key KPIs behind pricing strategies
- Common mistakes in pricing
What is revenue management (RM)?
- Definition and a brief history
- Objectives, principles, and elements of RM
- Necessary conditions for revenue management
- Revenue management vs. yield management
- The importance of revenue management
- RM terms and performance indicators
RM and Forecasting
- The economics of revenue management
- Demand management
- Unconstrained demand vs. constrained demand
All about forecasting
- What is forecasting?
- Why is forecasting so important?
- Booking curve and pickup forecasting
- Forecasting methods
- Error measurement
- Useful forecasting tips
- Overbooking
- A quick introduction
- Policies concerning overbooking
Inventory allocation and capacity control
- The basics of inventory allocation
- Expected marginal revenue
- Nested reservation system
- Protected level vs. booking limit
- Group management
Implementation of revenue management systems
- How can a revenue management system help
- Features of a revenue management system
- Revenue management and data sources, analytics, and visualization
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