This is a dangerous time for pricing. A recession, combined with large fluctuations in commodities and exchange rates are making it extremely difficult to manage pricing. This course is focused on helping pricers be more effective during this time of economic uncertainty.
Module 1 – Overview
- The forces of turbulence
- Building a “Turbulence Score” for your company/industry
- The 7 pricing dangers of turbulence
Module 2 – Changing Customer Needs
- Staying in touch with changing customer needs
- Best practices in forecasting demand at different price levels during turbulent times
- Handling negotiations with customers
Module 3 – Smart Competitive Pricing
- How to minimize the chances of a price war
- Participants will compete in an experimental “Price Wars” game
- How to outmaneuver the competition
Module 4 – Strategies for a Recession
- Strategic adjustments that protect margins
- Implementing smart price changes
- Principled price responsiveness to changes in the economy
Module 5 – Handling Turbulence Handling Turbulence in Commodities and the Exchange Rate
- Protecting your pricing during fluctuations in the exchange rate
- How to handle fluctuations in commodities
Processes for ensuring better decision-making
This course includes case studies, group discussions and interactive exercises that allow pricers to experience the impact of turbulence.
By the end of this session, pricers will be better equipped to handle the external forces that are impacting their business.