New Pricing Practices in Digital Times

Pricing is the key lever of profitability and growth across industries. As a result of new technologies, advances in analytics and software, big data, and mobile applications pricing practice is undergoing momentous changes. The continued inflationary and more volatile economic environment, shifting consumer demand, and supply chain disruptions, are presenting additional business management challenges and increasing pressures on organizations to update their pricing know-how.

Organizations are rethinking their pricing tactics and strategy and making significant investments to build capacity and new capabilities not just in their pricing function but also in integrating data, modeling and machine learning as well as the organizational set-up for timely, dynamic, and deliberate decision-making. Organizations are updating their pricing practice as well as their ability to improve their promotions, inventory management, and track immediate outcomes of decisions on sales, margins, volumes, etc.

The programme identifies tremendous changes in pricing practice in the last 5-10 years resulting from new technology, advances in analytics, software, and data, presenting organizations with opportunities and the need to update their practices. The content of the programme aims to support leadership in organizations in building their pricing and revenue management capacity, new capabilities in product innovation, and marketing mix functions.

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.