Pricing Analytics: The Science of Profitable Growth - 2-Day Course
This course focuses on teaching executives how to use analytics to obtain a better understanding of their customers and to design more targeted promotional programs and profitable pricing. Research shows that companies who use an analytics-driven approach to pricing, out-perform their competitors significantly.
Participants will learn how to:
- Build analytics capabilities within their organizations.
- Translate analytic insights into action.
- Integrate analytics into core business processes.
- Link analytics to corporate strategy.
The primary focus areas of the course includes:
- Core models, methodologies, and theories of pricing analytics.
- Data and analytics tools used to support pricing and promotion decisions.
- Best practices for building and deploying pricing analytics capabilities.
- Metrics to measure the impact of pricing changes.
- Translating analytic insights into action.
- Learn new approaches, methodologies, and strategic frameworks to enable your firm to better link pricing analytics insights, pricing, and promotion decisions to market strategy and execution.
- Use comprehensive data sources and advanced analytics to learn more about customers and develop products, prices, and promotions to better target them.
- Bridge leading academic work with practical commercial advances to develop a roadmap to profitable growth for your organization.
- Apply analytics to pricing, sales, and marketing decisions in an integrated way.
Who should attend?
This course is suitable for mid- to senior-level executives who want to better understand how analytics can be used to improve pricing and marketing decisions, revenue growth and profitability.
Understanding the primary approaches, analytic models, and methodologies used in pricing analytics to support decision making
- Alternative approaches to pricing
- Methodologies to identify pricing opportunities
- Theories of pricing: price-response curves, willingness to pay, and price elasticity models
- Customer segmentation, price discrimination, and customized pricing
- Alternative techniques, models, and latest developments
Supporting better pricing and promotions decisions with analytics
- Theory of price analytics
- Micro-economic heritage
- Empirical “truths” / econometric development
- Available techniques and latest developments
Employing pricing analytics within an organization
- What to use, when, and where, and how to organize pricing
- Building an intelligent revenue growth strategy
- Best practices for internal engagement
- Navigating, interpreting, and validating results
- Bringing insight to life
Translating insights from analytics into action
- Driving a culture of inquiry and acceptance
- Solutions for accessibility and enablement
- Ensuring effective execution of pricing policies
- Performance management & compliance monitoring
- Supporting course corrections in a dynamic marketplace
Measuring the benefits
- Measuring value & contribution of price analytics
- Pricing and promotion impact on brand equity
- Case studies highlighting businesses that leveraged pricing analytics programs to drive growth
See the schedule above or use the request information form to learn the cost of this course.
Certification / Credits
Upon completion of this program, you will earn two days towards a certificate with select alumni and tuition benefits.
Columbia Business School Executive Education - At the Very Center of Business
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