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Promotion and Events Specialist

Pricing Methodologies (Online)

Unlock pricing efficiency with data and insights

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Course Date

STARTS ON

March 28, 2023

Course Duration

DURATION

6 weeks, online
4–6 hours per week

Course Fee

PROGRAM FEE

US$2,600 or get US$260 off with a referral

Course Information Flexible payment available
Course Fee

For Your Team

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Welcome

To claim your US$260 program fee coupon for Pricing Methodologies (Online), please complete the information form.

An Analytical Approach to Pricing

Pricing has historically been an essential part of the marketing mix - and yet it remains a vastly underutilized tool. When properly applied as a strategic lever, pricing tools can impact your overall business goals, drive profitable growth, enhance customer value, and create the ultimate win-win situation. You'll learn the psychology behind pricing and what it takes to find the sweet spot between customer behavior and profit maximization.

By shifting from traditional pricing methodologies to an analytics-based approach, product and marketing professionals find that effective pricing tactics become self-evident through the data. In this program, you'll learn to optimize revenue through pricing from a global expert who built teams and developed analytical approaches foundational to organizations like Amazon and Uber.

Pricing analytics provide critical insights for creating a pricing playbook, including the:

  • Economics of pricing and consumer behavior
  • Ability to represent customer response mathematically
  • Building blocks for dynamic pricing models

200–350%

Price management initiatives can increase profit margins by 2 to 7 percent in a year, yielding an ROI between 200 and 350 percent.

Source: Deloitte, 2021

$1

Every $1 increase in the cost of goods means at least $1 in lost profit. Review your pricing often.

Source: Inc., 2022

11.1%

A 1 percent pricing improvement results in an 11.1 percent increase in operating profit.

Source: McKinsey and Company, 2021

Key Takeaways

This program will empower you to:

  • Set pricing as a benchmark to maximize profit, improve market share, and create customer value
  • Understand historical and modern methods of pricing and customer perception
  • Use analytics and quantitative tools to determine prices and measure their effectiveness
  • Apply behavioral economics to determine optimal pricing
  • Engage with stakeholders across functions to improve tactical pricing
  • Focus on pricing dynamics using a real-world approach that supersedes “competitive pricing”

Who Should Attend?

This program is designed for professionals, particularly in the following roles:

  • Product and category managers and product marketing managers who want to optimize prices to drive revenue growth through their product portfolios
  • Mid- to senior-level professionals in sales, marketing, and general management who want to maximize profit on each deal and automate their sales processes to include smart pricing solutions
  • Pricing analysts and business analysts who want to use a tactical analytics-based approach to determine prices for their products

Program Modules

This program provides a comprehensive overview of pricing theories and best practices that empower participants to create a pricing playbook for their organizations. The playbook acts as a decision-making tool to outline and build a presentation of setting the right price for your product or service.

Module 1:

Introduction to Pricing

Get real-world context through an assessment of pricing methodologies broadly as well as within your organization.

Module 2:

Models of Consumer Demand

Explore the underlying economics of pricing, including the quantitative terms and approaches used to maximize revenue.

Module 3:

Price Segmentation

Examine the potential benefits of both customer segmentation and product segmentation.

Module 4:

Setting and Updating Prices over Time

Explore the "why" and "how" of pricing changes, and identify both potential opportunities and inhibiting factors for dynamic pricing in your organization.

Module 5:

Customized Pricing

Explore the project taken by Nomis Solutions, the industry-leading pricing and profitability management organization, for an e-car auto loan services organization, and see how economic functions and logistic regressions help refine price, improve processes and systems, and reduce customer churn.

Module 6:

The Behavioral Economics of Pricing

Examine historical pricing scandals and their surrounding psychology. Learn why some aspects of pricing are not rational and why customer responses are not consistent so you can apply these lessons to your organization’s pricing playbook.

Module 1:

Introduction to Pricing

Get real-world context through an assessment of pricing methodologies broadly as well as within your organization.

Module 4:

Setting and Updating Prices over Time

Explore the "why" and "how" of pricing changes, and identify both potential opportunities and inhibiting factors for dynamic pricing in your organization.

Module 2:

Models of Consumer Demand

Explore the underlying economics of pricing, including the quantitative terms and approaches used to maximize revenue.

Module 5:

Customized Pricing

Explore the project taken by Nomis Solutions, the industry-leading pricing and profitability management organization, for an e-car auto loan services organization, and see how economic functions and logistic regressions help refine price, improve processes and systems, and reduce customer churn.

Module 3:

Price Segmentation

Examine the potential benefits of both customer segmentation and product segmentation.

Module 6:

The Behavioral Economics of Pricing

Examine historical pricing scandals and their surrounding psychology. Learn why some aspects of pricing are not rational and why customer responses are not consistent so you can apply these lessons to your organization’s pricing playbook.

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Program Experience

Decorative image relating to live webinars

Live webinars

Live office hours with program leaders

Peer-to-peer learning

Try-it activities

Companion reading

Real-world applications and activities

Program leader–guided discussions

Dedicated program support team

Program Faculty

Profile picture of programme faculty, Robert.L.Phillips

Robert L. Phillips

Founder, Nomis Solutions, Former Pricing Expert at Uber and Amazon

Robert Phillips founded Nomis Solutions, a software and consulting organization that helps financial service organizations better manage pricing and profitability, and serves on the board of directors. He was previously the director of pricing research at Amazon, where he led a team of data scientists and economists that developed the analytic approaches underlying pricing for Amazon’s businesses... More info
Profile picture of programme faculty, Robert.L.Phillips

Robert L. Phillips

Founder, Nomis Solutions, Former Pricing Expert at Uber and Amazon

Robert Phillips founded Nomis Solutions, a software and consulting organization that helps financial service organizations better manage pricing and profitability, and serves on the board of directors. He was previously the director of pricing research at Amazon, where he led a team of data scientists and economists that developed the analytic approaches underlying pricing for Amazon’s businesses.

Before joining Amazon, Phillips was Director of Marketplace Data Science at Uber, as well as Professor of Professional Practice at Columbia Business School, and Director of the Columbia Center for Pricing and Revenue Management. He was also a visiting scholar and lecturer at the Stanford Business School.

Phillips was a pioneer in developing pricing and revenue optimization and dynamic pricing in many industries including passenger airlines, cruise lines, rental cars, retail, automotive, hotels, air cargo, trucking, container shipping, and manufacturing. He served as CEO of Decision Focus Incorporated, a consulting company specializing in the application of business analytics in business and government, and as CEO of Talus Solutions, a revenue-management software and services company.

Phillips is the author of two books, Pricing and Revenue Optimization and Pricing Credit Products, and co-editor of The Oxford Handbook of Pricing Management. He is an INFORMS Fellow and a recipient of the INFORMS Impact Prize for his work in pricing and revenue management.

Phillips holds a Ph.D. in Engineering-Economic Systems from Stanford University and Bachelor Degrees in Economics and Mathematics from Washington State University.

Certificate

Certificate

Upon completion of the program, participants will receive a certificate of participation from Columbia Business School Executive Education and two days toward a Certificate in Business Excellence.

Download Brochure

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FAQs

  • How do I know if this program is right for me?

    After reviewing the information on the program landing page, we recommend you submit the short form above to gain access to the program brochure, which includes more in-depth information. If you still have questions on whether this program is a good fit for you, please email learner.success@emeritus.org, and a dedicated program advisor will follow-up with you very shortly.


    Are there any prerequisites for this program?

    Some programs do have prerequisites, particularly the more technical ones. This information will be noted on the program landing page, as well as in the program brochure. If you are uncertain about program prerequisites and your capabilities, please email us at the ID mentioned above.


    Note that, unless otherwise stated on the program web page, all programs are taught in English and proficiency in English is required.


    What is the typical class profile?

    More than 50 percent of our participants are from outside the United States. Class profiles vary from one cohort to the next, but, generally, our online certificates draw a highly diverse audience in terms of professional experience, industry, and geography — leading to a very rich peer learning and networking experience.


    What other dates will this program be offered in the future?

    Check back to this program web page or email us to inquire if future program dates or the timeline for future offerings have been confirmed yet.

  • How much time is required each week?

    Each program includes an estimated learner effort per week. This is referenced at the top of the program landing page under the Duration section, as well as in the program brochure, which you can obtain by submitting the short form at the top of this web page.


    How will my time be spent?

    We have designed this program to fit into your current working life as efficiently as possible. Time will be spent among a variety of activities including:



    • Engaging with recorded video lectures from faculty
    • Attending webinars and office hours, as per the specific program schedule
    • Reading or engaging with examples of core topics
    • Completing knowledge checks/quizzes and required activities
    • Engaging in moderated discussion groups with your peers
    • Completing your final project, if required

    The program is designed to be highly interactive while also allowing time for self-reflection and to demonstrate an understanding of the core topics through various active learning exercises. Please email us if you need further clarification on program activities.


    What is it like to learn online with the learning collaborator, Emeritus?

    More than 300,000 learners across 200 countries have chosen to advance their skills with Emeritus and its educational learning partners. In fact, 90 percent of the respondents of a recent survey across all our programs said that their learning outcomes were met or exceeded.

    All the contents of the course would be made available to students at the commencement of the course. However, to ensure the program delivers the desired learning outcomes the students may appoint Emeritus to manage the delivery of the program in a cohort-based manner the cost of which is already included in the overall course fee of the course.

    A dedicated program support team is available 24/5 (Monday to Friday) to answer questions about the learning platform, technical issues, or anything else that may affect your learning experience.


    How do I interact with other program participants?

    Peer learning adds substantially to the overall learning experience and is an important part of the program. You can connect and communicate with other participants through our learning platform.

  • What are the requirements to earn the certificate?

    Each program includes an estimated learner effort per week, so you can gauge what will be required before you enroll. This is referenced at the top of the program landing page under the Duration section, as well as in the program brochure, which you can obtain by submitting the short form at the top of this web page. All programs are designed to fit into your working life.

    This program is scored as a pass or no-pass; participants must complete the required activities to pass and obtain the certificate of completion. Some programs include a final project submission or other assignments to obtain passing status. This information will be noted in the program brochure. Please email us if you need further clarification on any specific program requirements.


    What type of certificate will I receive?

    Upon successful completion of the program, you will receive a smart digital certificate. The smart digital certificate can be shared with friends, family, schools, or potential employers. You can use it on your cover letter, resume, and/or display it on your LinkedIn profile.
    The digital certificate will be sent approximately two weeks after the program, once grading is complete.


    Can I get the hard copy of the certificate?

    No, only verified digital certificates will be issued upon successful completion. This allows you to share your credentials on social platforms such as LinkedIn, Facebook, and Twitter.


    Do I receive alumni status after completing this program?

    No, there is no alumni status granted for this program. In some cases, there are credits that count toward a higher level of certification. This information will be clearly noted in the program brochure.


    How long will I have access to the learning materials?

    You will have access to the online learning platform and all the videos and program materials for 12 months following the program start date. Access to the learning platform is restricted to registered participants per the terms of agreement.

  • What equipment or technical requirements are there for this program?

    Participants will need the latest version of their preferred browser to access the learning platform. In addition, Microsoft Office and a PDF viewer are required to access documents, spreadsheets, presentations, PDF files, and transcripts.


    Do I need to be online to access the program content?

    Yes, the learning platform is accessed via the internet, and video content is not available for download. However, you can download files of video transcripts, assignment templates, readings, etc. For maximum flexibility, you can access program content from a desktop, laptop, tablet, or mobile device.

    Video lectures must be streamed via the internet, and any livestream webinars and office hours will require an internet connection. However, these sessions are always recorded, so you may view them later.

  • Can I still register if the registration deadline has passed?

    Yes, you can register up until seven days past the published start date of the program without missing any of the core program material or learnings.


    What is the program fee, and what forms of payment do you accept?

    The program fee is noted at the top of this program web page and usually referenced in the program brochure as well.

    • Flexible payment options are available (see details below as well as at the top of this program web page next to FEE).
    • Tuition assistance is available for participants who qualify. Please email learner.success@emeritus.org.

    What if I don’t have a credit card? Is there another method of payment accepted?

    Yes, you can do the bank remittance in the program currency via wire transfer or debit card. Please contact your program advisor, or email us for details.


    I was not able to use the discount code provided. Can you help?

    Yes! Please email us with the details of the program you are interested in, and we will assist you.


    How can I obtain an invoice for payment?

    Please email us your invoicing requirements and the specific program you’re interested in enrolling in.


    Is there an option to make flexible payments for this program?

    Yes, the flexible payment option allows a participant to pay the program fee in installments. This option is made available on the payment page and should be selected before submitting the payment.


    How can I obtain a W9 form?

    Please connect with us via email for assistance.

  • What is the policy on refunds and withdrawals?

    You may request a full refund within seven days of your payment or 14 days after the published start date of the program, whichever comes later. If your enrollment had previously been deferred, you will not be entitled to a refund. Partial (or pro-rated) refunds are not offered. All withdrawal and refund requests should be sent to admissions@emeritus.org.



    What is the policy on deferrals?

    After the published start date of the program, you have until the midpoint of the program to request to defer to a future cohort of the same program. A deferral request must be submitted along with a specified reason and explanation. Cohort changes may be made only once per enrollment and are subject to availability of other cohorts scheduled at our discretion. This will not be applicable for deferrals within the refund period, and the limit of one deferral per enrollment remains. All deferral requests should be sent to admissions@emeritus.org.

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or call us at +1 315 387 4431 (US) / + 44 203 838 0836 (UK) / +65 3163 9288 (SG)  
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