Price Analytics

Learn how to price a product or service. Major techniques explained with cartoons and Microsoft Excel.
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  • Lectures 32
  • Length 1 hour
  • Skill Level All Levels
  • Languages English
  • Includes Lifetime access
    30 day money back guarantee!
    Available on iOS and Android
    Certificate of Completion
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About This Course

Published 10/2014 English

Course Description

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:

  • 11 pricing techniques
  • 3 pricing assessment methods, including break-even analysis and net present value capital budgeting model
  • 5 Excel spreadsheet examples
  • Concepts of elastic demand, optimal pricing, and price discrimination.

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.

Why wait? Take the course now; it is worth it.

What are the requirements?

  • Basic knowledge of Excel

What am I going to get from this course?

  • You will learn advantages and disadvantages of 11 pricing techiniques
  • You will learn how to evaluate price based on your financial targets
  • You will be able to conduct break-even analysys
  • You will learn Net Present Value Capital Budgeting Model
  • You will be introduced to Internal Rate of Return model
  • You will learn how to use Excel and Data Analysis options in Excel for evaluating price
  • You will learn concept of Price Elasticity and Optimal Pricing
  • You will learn how to collect data for and and operate with Demand Curve

What is the target audience?

  • Students interested in marketing and business education.
  • Entrepreneurs, business developers, and start-up owners.
  • All levels of business analysts

What you get with this course?

Not for you? No problem.
30 day money back guarantee.

Forever yours.
Lifetime access.

Learn on the go.
Desktop, iOS and Android.

Get rewarded.
Certificate of completion.

Curriculum

Section 1: Pricing Techniques
Pricing Technique
Preview
01:11
Creaming Pricing
Preview
00:54
Demand-Based Pricing
Preview
01:06
Everyday Low Pricing
Preview
01:23
Going Rate Pricing
Preview
01:20
Markup Cost Plus Pricing
Preview
00:58
Example - Markup Cost Plus Pricing
Preview
01:28
Penetration Pricing
Preview
00:42
Prestige Pricing
Preview
00:35
Target-Return Pricing
Preview
01:00
Tiered Pricing
00:52
Value-in-Use Pricing
01:02
Variant Pricing
01:07
Summary
01:27
Section 2: Pricing Assessment
Pricing Assessment
00:53
Break-even Analysis
01:18
Break-even Analysis Process
01:38
Example - Break-even Analysis
01:44
Net Present Value Capital Budgeting Model
02:16
NPV Analysis Process
01:13
Example - NPV Analysis Process
02:04
Internal Rate of Return Capital Budgeting Model
01:46
IRR Analysis Process
01:02
Example - IRR Analysis Process
03:09
Section 3: Profitable Pricing
Profitable Pricing
00:30
Price Elasticity
01:45
Gather the Demand Data
01:01
Example - Price Elasticity Calculation
01:19
Optimal Pricing
00:38
Example - Optimal Price Calculations
00:58
Section 4: Price Discrimination
Price Discrimination
04:19
Section 5: Exam for Certificate
Bonus Lecture: Exam Questions
02:12

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Instructor Biography

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.

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