Today’s business leaders recognise that pricing is vastly underutilised for maximising profitability, gaining market share, and enhancing customer value. In this program, you will design a playbook for optimising revenue through pricing.
6 weeks | 4-6 hours/week | Self-paced Videos + webinars + cohort
| *** 2024 Cohort Enrolment dates: 5 September, 14th November *** |
Today’s business leaders recognize that pricing is vastly underutilized for maximizing profitability, gaining market share, and enhancing customer value. Research indicates how effective quantitative, data-driven pricing techniques can be and how few organizations are taking advantage of this tactical approach. In fact, a Bain & Company global survey of 1,700 organizations found that 85 percent reported they had “significant room for improvement in pricing.” Harnessing realistic pricing techniques can give your organization a competitive advantage amid rising inflation and fluctuations in supply and demand.
Specifically designed for marketing analysts and managers, this program provides the knowledge, tools, and competency to make informed pricing decisions, create value through price optimization, and deal intelligently with the behavioral psychology of pricing. You will learn an analytical approach to pricing, including how to evaluate the impact of different prices on profitability, how to attract new customers through rational pricing techniques, and how to apply tactical pricing in real-world scenarios. The Pricing Methodologies (Online) program from Columbia Business School Executive Education will give you the intelligence and acumen to manage pricing in a competitive market. You will learn to leverage analytical tools to optimize pricing and create maximum value for both your organization and your customers.
In this program, you will design a playbook for optimizing revenue through pricing. Try-it activities offer practice with quantitative tools so you can calculate your way to revenue maximization. Lively discussions about customer rationality and perceptions of fairness balance out the quantitative elements of the program to help you anticipate customer response and present your prices accordingly.
This six-week online program includes discussions guided by the program leader as well as live sessions with Robert L. Phillips, former director of pricing research at Amazon and former director of marketplace data science at Uber. Phillips is the founder of Nomis Solutions, a pricing and profitability consulting organization. Nomis Solutions has partnered with Columbia CaseWorks to provide a pricing optimization analysis of an actual Nomis Solutions client, placing the learnings from the Pricing Methodologies (Online) program in a real-world context.
Who should attend:
Designed for managers and analysts who want to use analytics to gain a better understanding of their target customers’ behavior, including how they perceive value, and maximize profits through precision pricing of every product in their portfolio:
- Product and category managers and product marketing managers who want to optimize prices under constraints determined by competition within the market, by inventory and other factors, to drive revenue growth through their product portfolio
- Mid- to senior-level professionals in sales, marketing, and general management who want to achieve the highest possible profit on each deal as well as automate every aspect of the sales process, including pricing, to empower their sales force with smart pricing solutions
- Pricing analysts and business analysts who want to use a tactical analytics-based approach to determine prices for their products
Topics covered:
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Introduction to Pricing
- Models of Consumer Demand
- Price Segmentation
- Setting and Updating prices over Time
- Customized Pricing
- The Behavioural Economics of Pricing
Learning Outcomes:
- Understand the latest methods of pricing and customer perception
- Use analytics and quantitative tools to determine prices and measure effectiveness
- Apply behavioral economics to determine optimal pricing
- Engage with stakeholders across functions to improve tactical pricing
- Focus on pricing dynamics using a real-world approach that supersedes “competitive pricing”
- Set pricing as a benchmark to maximize profit, improve market share, and create customer value
Program Experience:
- Live webinars
- Live office hours with program leaders
- Peer Learning discussions
- Real-world application and activities
Duration: 6 weeks, 4-6 hours/week
Delivery: Online: Self-paced Videos + webinars, cohort
Certification - Upon successful completion of the program, you will receive a certificate of participation from Columbia Business School Executive Education. The learnings serve as a powerful credential in supporting your management capabilities.
Pricing:
Non-Members US$2600
AMI Members US$2210 (15% discount)
CPD points: 100
Cohort Dates:
This course runs 3 - 4 times a year. The next cohorts are starting:
5 September 2024
14 November 2024
Trainers details
Robert L Phillips – Founder, Nomis Solutions
Robert Phillips founded Nomis Solutions, a software and consulting organization that helps financial service organizations better manage pricing and profitability and serves on the board of directors. He was previously director of pricing research, where he led a team of data scientists and economists that developed the analytic approaches underlying pricing for Amazon’s businesses.
Before joining Amazon, Phillips was director of marketplace data science at Uber, professor of professional practice at Columbia Business School, and director of the Columbia Center for Pricing and Revenue Management. He was also a visiting scholar and lecturer at Stanford Business School.
Phillips was a pioneer in developing pricing and revenue optimization and dynamic pricing in many industries, including passenger airlines, cruise lines, rental cars, retail, automotive, hotels, air cargo, trucking, container shipping, and manufacturing. He served as CEO of Decision Focus Incorporated, a consulting organization specializing in the application of business analytics in business and government, and as CEO of Talus Solutions, a revenue management software and services organization.
Phillips is the author of two books, Pricing and Revenue Optimization and Pricing Credit Products, and co-editor of The Oxford Handbook of Pricing Management. He is an INFORMS Fellow and a recipient of the INFORMS Impact Prize for his work in pricing and revenue management.
Phillips holds a PhD in Engineering-Economic Systems from Stanford University and bachelor's degrees in economics and mathematics from Washington State University
Emeritus is an AMI Partner. We are happy to offer the course to our members with an exclusive discount.
