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Don’t you know that price is the first thing majority of customers look at? Marketing consulting firms estimate that improving pricing by 1 percent can result in as much as 10 percent increased profits. Price Analytics is a skill of high demand among marketing manager. And not only them! Entrepreneurs, business executives, and senior decision makers often feel shaky when it comes to pricing assessment.
Pricing is one of the major elements of marketing. Price analytics is one of the key elements of it.
The technology of pricing is an art. Rounding off the numbers may be good for small endeavors but never for an organization. The art of setting prices for products or services has been an ever-challenging task for organizations. Paying attention to the changing economic system, strong competitors in the marketplace, and client budget, the secret to success of pricing goods has been based mainly on a psychological assessment of the client and solid price analytics.
Few institutions offer education in price analytics, and none offer online courses on it. The Scandinavian Institute of Business Analytics has taken a step forward and has developed unique courses in business analytics for online education.
In the course,Price Analytics by SCANBA, you will follow Lars and his company, Lars Coffee Mugs.
Together with Lars, you will study different pricing techniques, pricing assessment methods, concepts of profitable pricing, and learn about price discrimination.
You will learn:
By the end of the course, you will be able to pass an exam and receive a personalized certificate of completion from the Scandinavian Institute of Business Analytics.
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Certificate of completion.
|Section 1: Pricing Techniques|
Everyday Low PricingPreview
Going Rate PricingPreview
Markup Cost Plus PricingPreview
Example - Markup Cost Plus PricingPreview
|Section 2: Pricing Assessment|
Break-even Analysis Process
Example - Break-even Analysis
Net Present Value Capital Budgeting Model
NPV Analysis Process
Example - NPV Analysis Process
Internal Rate of Return Capital Budgeting Model
IRR Analysis Process
Example - IRR Analysis Process
|Section 3: Profitable Pricing|
Gather the Demand Data
Example - Price Elasticity Calculation
Example - Optimal Price Calculations
|Section 4: Price Discrimination|
|Section 5: Exam for Certificate|
Bonus Lecture: Exam Questions
The Scandinavian Institute of Business Analytics (SCANBA) is a business analytics consulting company with operations in Finland and Sweden. SCANBA helps companies and their employees to become significantly more effective and successful by implementing business analytics in their organizations and by increasing employees’ professional skills.
SCANBA provides a broad range of services, including training and certification in business analytics, data management auditing, business process auditing and optimization, predictive analytics implementation, and decision system management.