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Pricing Profitably for Your Products Value (Video) (Course Id 2229)

QAS / Registry
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Author : Rob Stephens, Founder of CFO Perspective, Adjunct Instructor Gonzaga University
Course Length : Pages: 10 ||| Review Questions: 10 ||| Final Exam Questions: 15
CPE Credits : 3.0
IRS Credits : 0
Price : $44.95
Passing Score : 70%
Course Type: Video - NASBA QAS - Text - NASBA Registry
Technical Designation: Technical
Primary Subject-Field Of Study:

Accounting - Accounting for Course Id 2229

Description :

Pricing is one of the most powerful ways to improve – or destroy – profits. This course can help you improve the pricing practices at your company or allow you to help your clients make better pricing decisions.

Price is a function of the value provided to customers. This course focuses on customer perceptions of value and their willingness to pay for that value.

I'll start by explaining the concepts and calculation of value-based pricing. Understanding what customers value and whether they are willing to pay for that value should drive your company's strategies and costs.

Who determines value? The customer makes the ultimate decision when they decide what price they are willing to pay for a product and which product to buy (if any). Behavioral finance offers insights into how customers determine value. I'll explain how.

I'll walk through price differentiation and segmentation concepts and examples. You'll then learn about the price-response function and how to estimate it. Estimating the price-response function helps a company better project sales volumes at a new price, which is important for deciding whether to change prices.

I'll finish this course by touching on pricing ethics. Customers must perceive pricing to be fair for them to be willing to buy a product from a company.

This course is one of three video-based pricing courses. The other two courses are:

  • Pricing Profitably Analysis and Processes: I explain how to analyze pricing decisions to anticipate their profit implications. Cost-plus pricing is a popular pricing methodology, but I explain its weaknesses. I also cover how many parts of a company can work together to improve pricing.
  • Pricing Profitably in the Face of Competition: The focus of this course is how other companies can impact prices. I show how to analyze the profitability at stake by responding to competitor pricing. You'll learn common pricing strategies relative to market pricing. Finally, I'll show how to identify and reduce poor discounting practices.

I also have a text-based course titled “Pricing for Profitability” that combines all three courses into one course.

These courses focus on financial management and profitability analysis of pricing. A Deloitte pricing effectiveness benchmark study found that: "Companies that actively pursue pricing as an important part of their strategy typically outperform industry peers on several financial metrics… Companies that are pricing leaders are 26 percent better at managing true profitability."

Usage Rank : 14444
Release : 2024
Version : 1.0
Prerequisites : None.
Experience Level : Overview
Additional Contents : Complete, no additional material needed.
Additional Links :
Advance Preparation : None.
Delivery Method : QAS Self Study
Intended Participants : Anyone needing Continuing Professional Education (CPE).
Revision Date : 19-Feb-2024
NASBA Course Declaration : Participants must complete the final examination within one year of purchase and with a minimum passing grade of 70% or better to receive CPE credit unless otherwise noted on the Course History page (i.e. California Ethics must score 90% or better). After logging in click on the Course History links on your My Courses page for the Begin date and Expire date for the Final Exam.
Approved Audience :

Video - NASBA QAS - Text - NASBA Registry - 2229

Keywords : Accounting, Pricing, Profitably, Products, Value, Video, cpe, cpa, online course
Learning Objectives :

Course Learning Objectives

Upon completion of this course, participants will be able to do the following:
  • Recall key concepts of value-based pricing
  • Recognize methods of price differentiation or segmentation
  • Identify pricing practices that may be unethical
Course Contents :

Chapter 1 - Pricing Profitably for Your Products Value

Chapter 1 Review Questions

Glossary

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