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Value & Price Training

VALUE & PRICE TRAINING sessions based on serious experience

An essential part of improving your company’s Pricing & Value capabilities will, of course’ be about developing the Pricing & Value Culture, familiarizing Sales & Marketing with the stakes and levers and enhancing the Pricing & Value expertise of your personnel. Training can and should be a driver in that effort.

Over the past five years PriValEdge pricing consultants have trained more than 5000 executives and have conducted in-house training for more than 100 different organizations. 

Ratings for our Value and Price training sessions have consistently been outstanding and we have been brought back by many clients on several occasions for additional training and or consulting work. 

In addition to Value & Price training, PriValEdge’s consultants have conducted numerous seminars and conferences on Pricing Strategy & Pricing Management. Some of the issues addressed include contracting/bidding processes, new product pricing, pricing performance indicators, compensation, value analysis and GPO strategy.

PriValEdge also published several articles in leading magazines and journals such as Marketing Magazine and the Professional Market Research Society. 

PriValEdge’s approach to value & price training 

We believe that if people are engaged and having fun they will learn more. To ensure we create that type of environment we approach Value & Price training from the following perspective. 

Activity based/experiential – We quickly move from theory into application through the use of team breakouts and individual exercises. 

Application to problems faced by participants – We design the exercises and breakouts to provide participants with the fullest opportunity possible to work on their own business issues in real time. This way they leave the session with work completed and a clear sense of what needs to be done when they return to their desk. 

Leverage the group’s wisdom – Participants are encouraged to contribute throughout the session. As well at the end of each exercise there is debriefing and testing for understanding. This provides an important opportunity for participants to share. 

Industry focused – We will be using industry specific cases and providing industry specific examples that extend the learning of the team and can easily be related to their own situation. 

Pricing Strategy training 

  1. Implementing Value-Based Pricing 
  2. Selling Value Instead of Price 
  3. Pricing Psychology 
  4. Competitive Pricing 
  5. Pricing Research 
  6. New Product Pricing 

Pricing Management training 

  1. Best Practices in Pricing Management 
  2. Price Increases - How to make them stick 
  3. Channel Price Management 
  4. World Class Pricing 

Setup & Organization 

  • Training sessions / seminars can be organized at your premises or at any agreed upon third party site. 
  • We customize the program according to the needs of your team, and review the agenda with you prior to the session.. 

Preparation & Feedback 

Prior to the Session 

To ensure that the participants receive maximum benefit we incorporate some of their “live issues” into the program agenda. To ensure that they receive full value from the session they will be asked to ensure that they come prepared with the necessary information. 

After the Session 

The participants provide feedback that will be informative and will ensure that the program is further improved upon as additional sessions are conducted. 

Pricing Strategy training

  1. Implementing Value-Based Pricing
    • How to Link Price to Value 
      • Determining the value of your brand equity 
      • Keeping focused on value instead of price 
      • Using segmentation to capture premium prices 
      • Making the cultural change to value-based pricing 
    • Target Audience: senior management teams, marketing/sales teams, or cross-functional teams focused on implementing new pricing initiatives. 
      • Length: one or two days 
      • Description: This session is designed to clarify how to successfully execute value-based pricing. It is particularly helpful to companies that are undergoing significant cultural or market driven changes in which a new paradigm for managing price and value is required. 
      • Quotes: “Excellent summary of pricing strategically, many ‘take-aways’ that can be applied immediately.” 
        • “Well organized, good insights… it got my team thinking creatively.” 
        • “Helped us build a vision for the future during a difficult time in our industry.” 
        • “Engaging, provocative….opened us up to new ideas and approaches to pricing.” 
  2. Selling Value Instead of Price - Focusing the sales team on value 
    • How to stay focused on a value-based relationship 
    • How to negotiate with price driven customers 
    • How to handle price objections 
    • How to communicate price increases 
    • Target Audience: Sales force. 
    • Length: keynote, half-day, or one day 
    • Description: Sales professionals are questioned about price on a daily basis, and often end up believing it plays a more significant role in the customer’s decision-making process than it actually does. This course is intended to get salespeople “back on track” and feeling positive about their offering and their ability to add value to a customer’s business. 
    • Quotes: “Gave good ideas on how to deal with customers to explain price. Taught us to not be afraid to be most expensive.” 
    • “I learned a lot, previously unaware of pricing strategies (new sales rep), liked inter-active part.” 
    • “Just wanted to say thanks again for the presentation. I've had some excellent dis-cussions with reps since the session regarding selling value and many of the con-cepts you 
  3. Pricing Psychology Pricing that makes people tick 
    • Optimizing volume based discounts & rebates 
    • Impact of different discounts & rebates (e.g., on-shelf, coupons, BOGOs, etc.) 
    • Capitalizing on unique psychological price points 
    • Creating effective packages and bundles 
    • Target Audience: Sales & Marketing 
  4. Competitive Pricing Pricing in the trenches 
    • Fending off new entrants 
    • Effective competitive pricing strategies 
    • How to avoid damaging price wars 
    • Target Audience: Sales, Marketing, Senior Management 
  5. Pricing Research New frontiers on price optimization 
    • Selecting the optimal pricing research method 
    • The predictive accuracy of different methods 
    • How to do price customization through customer segmentation 
    • Developing accurate forecasts and market models 
    • Target Audience: Marketing, Marketing Research 
  6. New Product Pricing Hitting the bull's-eye 
    • Finding the optimal price level 
    • Determining the right discount structure 
    • Optimizing price/volume/profit tradeoffs 
    • Alternative launch strategies that work 
    • Managing competitive reaction 
    • Building a robust new product pricing process 
    • Target Audience: Marketing, Senior Management 

Pricing Management training

  1. Best Practices in Pricing Management 

    This two-day course is designed to help Pricing Managers lead their organization in making a move up a level in the Pricing Excellence framework. They will leave the session with Excel-based tools that they can easily populate with their data. They will have a clear, practical vision of how best-in-class companies are managing pricing. This course is ideal for a corporation with a decentralized pricing management structure. 

    Target Audience: senior management teams, marketing/sales teams Pricing Managers, Category Managers 

    Length: two or three days 

    Description: The course is a hands-on workshop in pricing management designed to give Managers time to work with the pricing tools we will introduce, and discuss the potential strategic implications that may arise. 

    Quotes: “Excellent summary of pricing management and strategies and how they apply to us.” 

    “many ‘take-aways’ that we shall use repeatedly.” … it got my team moving for-ward.” 

    “Helped us build a vision for where we want to go and how to get there.” 

    Interactive Exercises: Training on company specific business case 

    Practice on Excel-based tools populated with specific company data. 

  2. Price Increases - How to make them stick 
    • How to prepare your sales force 
    • Effectively communicating a price change 
    • How to handle resistant customers 
    • Aligning the organization for success 

    Target Audience: Sales 

    Length: half-day or one day 

    Description: Designed to help salespeople implement a price increase. This session is targeted at companies that have not implemented price increases in several years, or are in the midst of making major changes to their pricing policies. 

    Quotes: “Gives us good tools and arguments to be used with our accounts.” “The information was helpful when talking to customers about price increases. It has given me more confidence.” 

    “Led to the smooth implementation of what appeared to be a very scary price in-crease.” 

    Interactive Exercises:: Objection Handling* 

    *includes customized takeaway summarizing all objections expected from customer and how to respond to each 

  3. Channel Price Management How to build successful partnerships 
    • How to manage customer fairness and equitability 
    • Developing a successful channel discount program 

    Establishing an appropriate trade spend budget 

    Target Audience: Sales, Marketing 

  4. Pricing Capabilities Building: Make your way up the Pricing Excellence Pyramid 

    Assess how your pricing process stacks up against world-class benchmarks. 

    Reduce leakages in your pricing process 

    Implement tools to gain control of pricing 

    Implement leading edge data analysis to optimize pricing 

    Target Audience: Senior Management, Marketing, Sales, Finance, Pricing, Manufacturing