Executive Development Programme in Retail Price Management Strategy
-- ViewingNowThe Executive Development Programme in Retail Price Management Strategy certificate course is a crucial training programme designed to equip learners with essential skills in retail pricing. This course highlights the importance of effective pricing strategies in driving business growth and profitability.
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Understanding Retail Price Management: This unit will cover the basics of retail price management, including primary and secondary keywords. It will help participants understand the importance of pricing in retail and how it affects sales, profits, and customer perception.
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Competitive Pricing Strategies: This unit will cover different pricing strategies used in retail, such as competitive pricing, cost-plus pricing, and value-based pricing. Participants will learn how to analyze competitors' pricing and adjust their own pricing accordingly.
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Psychology of Pricing: This unit will delve into the psychology behind pricing and how consumers perceive prices. Participants will learn how to use pricing tactics, such as charm pricing and anchor pricing, to influence consumer behavior.
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Price Optimization: This unit will cover the principles of price optimization, including price elasticity, demand forecasting, and profit maximization. Participants will learn how to use data analytics and pricing software to optimize their pricing strategies.
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Market Segmentation and Pricing: This unit will teach participants how to segment their market and develop pricing strategies for each segment. It will cover topics such as demographic segmentation, psychographic segmentation, and price discrimination.
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Pricing Models for E-commerce: This unit will cover the unique challenges of pricing in e-commerce, such as platform fees, shipping costs, and digital product pricing. Participants will learn how to develop pricing models for online sales channels.
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Pricing Communication and Promotion: This unit will cover the importance of effective pricing communication and promotion. Participants will learn how to communicate their pricing strategy to customers, employees, and stakeholders.
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Pricing Analytics and Reporting: This unit will teach participants how to use data analytics and reporting tools to track their pricing performance and make data-driven pricing decisions.
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Retail Price Management Best Practices: This unit will cover best practices for retail price management, including setting up a pricing team, developing pricing policies, and monitoring pricing performance.
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