Course ID: VALUPRIC

Implementing Value Pricing in Your Firm

Understanding how people make buying decisions is a key component to any successful pricing strategy. By grasping the concepts of how consumers are influenced you can be better equipped to price successfully and increase your profitability. This program will provide a look at behavioral economics, marketing strategy, and customer psychology, and how these principles should be applied to pricing.

Based on Ron Baker’s best-selling book Implementing Value Pricing: A Radical Business Model for Professional Firms, published by John Wiley & Sons, Inc, this program will confront the conventional wisdom embodied in the old law firm business model, which states the way to success is by leveraging people and hours, or “We sell time.”


LEARNING OBJECTIVES
  • Understand the First and Second Law of pricing and how they influence your pricing decisions
  • Review how the anchoring and framing effects influence pricing
  • Recognize what and how people buy
  • Recognize the importance of price psychology and emotions

MAJOR TOPICS
  • How people make buying decisions
  • Principles of behavioral economics, marketing strategy and customer psychology
  • Price psychology
  • First and Second Law of pricing
  • Influence pricing

DESIGNED FOR
Any professional interested in being among the leaders in the profession, moving away from the old paradigm of operating a professional service firm and embracing the critical success factors of the knowledge economy

FIELD OF STUDY
Mgmt Advisory Services

PREREQUISITES
Management experience

COURSE PRODUCER
Business Learning Institute

CPE CREDITS
4.0

LEVEL
Intermediate

This course is available for your group as:

Group Live
 

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