Open-enrolment

New Pricing Practices in Digital Times

The program highlights significant shifts in pricing practices over the past 5-10 years, driven by advancements in technology, analytics, and the rise of AI-powered tools. These changes offer organizations opportunities for growth as well as necessitating the modernization of their pricing capabilities and processes. Designed to empower organizational leadership, the program’s content equips participants with actionable knowledge for agile, dynamic, and deliberate pricing and revenue management strategies to increase sales and profits. Additionally, it provides insights for other business activities such as promotion, product innovation, and inventory management

Lecturer:

Professor Lidija Polutnik

Study time:

2 days

Language:

English

Price:

16 900 SEK (excl VAT), lunches included

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Pricing is the primary lever for driving profitability and growth across industries. Set prices too high and you risk losing customers; set them too low, and you leave money on the table. Thanks to new technologies, advances in analytics, and the emergence of AI-powered tools, pricing and revenue management practices are experiencing profound transformations. The internet, omnichannel sales, and web platforms have reshaped the competitive landscape enabling customers to access pricing and product information effortlessly across many competitors. In the face of a persistent inflationary environment, evolving customer preferences, and supply chain challenges, organizations are increasingly transitioning their pricing practices from art to science.

Organizations are making significant investments to improve their pricing and revenue management capabilities. They are prioritizing processes and systems based on data-based value creation and capture. What are the core drivers of pricing strategy and tactics? How can predictive analytics, machine learning (ML), AI, and leveraging digital assets empower organizations with actionable insights and knowledge for agile, dynamic, and deliberate management to increase sales and profits? These newfound insights are not only guiding pricing decisions but also refining other business activities, including promotions, inventory management, and real-time performance tacking, all with a focus on the bottom line.

Programme Objectives

To understand changes in pricing techniques resulting from new technologies, digital capabilities, and industry disruptions.

To raise awareness about power of data, digitalization, and predictive analytics, using applications from B2B and B2C practice, for revenue management, pricing, and marketing mix in general.

To become familiar with innovations in pricing across various industries and gain ideas for options on how to monetize product/service innovations using customer insights and advanced analytics.

To apply learnings to your organization and industry.  You will have the opportunity to apply your new knowledge to reflect on your organization’s practices and identify opportunities for new revenue streams and improvements.

 

Why should you attend?

To understand challenges and opportunities in pricing resulting from the transparency of the internet afforded to customers, digitalization, big data, new technologies, AI, ML, and global competition in general.

To gain an understanding on how to improve revenue management in organizations based on new tools, techniques, and competencies.

To gain ideas of innovations in pricing in various industries, B2B and B2C, and ways to leverage technology and data for revenue management improvements.

To gain knowledge of common pitfalls in pricing execution and organization.

 

Faculty: Lidija Polutnik

Dr. Lidija Polutnik is a Professor of Economics at Babson College, Boston, USA. She served as Chair of the Economics Division from 2005 to 2017. Between 2014 and 2020 she held a Visiting Professor position at the School of Business, Economics and Law, University of Gothenburg, Sweden, where she continues to hold the Honorary Visiting Professor title.

Dr. Polutnik’s research and consulting are focused mainly on pricing, revenue management, and strategic cost management. Her work explores the relationship between customers’ value and costs, and the influence of this relationship on the firm’s financial results and the sustainability of business models. Her work has been published in numerous academic journals and books. Lidija has extensive consulting and executive teaching experience, including with the Sales & Marketing Academy of Volvo Group University and Volvo Cars Company.

She has designed and delivered programs in tactical and strategic pricing, customer value, cost, and profitability analysis. Moreover, she has delivered training on leveraging innovation to develop new revenue models, such as subscriptions, and harnessing emerging technologies and evolving consumer preferences to diversify revenue streams particularly in the space of sharing and usage economy.

Beyond her corporate engagements, Dr. Polutnik works with nonprofit organizations on the professionalization of their services with an emphasis on their revenue models and financial sustainability. She serves as a Vice Chair of the Board of Directors of Cambridge Center for Adult Education in Boston and is a Board member of the GU Executive Education at the University of Gothenburg.

Target group:

This programme is designed for heads of business units, mid-level managers, entrepreneurs with P&L responsibilities and individual seeking to enhance their business model acumen. Marketing directors, heads of analytics departments, product development managers, and finance and control leaders across a range of industries can refine their decision-making and pricing with a focus on customer value and profitability. The program holds particular relevance for organizations undergoing digital transformation, offering guidance on building capabilities for data-driven decision-making processes.

 

Date and place: May 13-14, 2024 – at the School of Business, Economics and Law

 

 

 

This is an interactive programme; you will gain knowledge of changes in pricing and revenue management practices and techniques through hands on exercises, case discussions, and lectures.

DAY 1, 8:30-17:00

  • Pricing Practices for Current Business Realities
  • Exercise: Pricing Methods and Gold Standards in Pricing
  • Dynamic/Surge Pricing
  • Pricing Practices in Participant Organizations, Challenges, and Opportunities

DAY 2, 8:30-17:00

  • New Pricing Models and Innovations in Pricing
  • Case Discussion
  • Analytics, Machine learning, and AI for Pricing and Marketing Mix
  • Reflections and Takeaways: Identification of Opportunities for Next Steps in Participant Organizations

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General conditions for applying to open-enrolment programmes

Once we receive your application, you will receive a confirmation by e-mail. The confirmation will contain all practical information. We will send you an invoice for the programme fee 14 days before it starts. Should there be too few applications, we reserve the right to cancel the programme. In such case, you will be notified by e-mail.

 

Cancellation

In case you wish to cancel your application a written cancellation needs to be sent via e-mail. This can be done without cost up to 28 days before programme start. Cancellation within 14-27 days before programme start will be charged with 50% of the programme fee. Cancelling less than 14 days means the entire fee will be charged. In case of cancellation, you are welcome to find a replacement to take your seat.

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