Recommended Prep Courses
Prep courses are optional, but we recommend taking them first or have the equivalent knowledge before enrolling in this course
- Foundations of Marketing
- Foundations of Economics
- Branding & Positioning
- Consumer Behavior
- Retail Math Fundamentals
Retail Pricing & Promotions Course Overview
In this course students will learn how to price a portfolio of retail products, in order to get the most out of the portfolio as a whole
A lot of companies focus on cutting costs to improve their profitability, and overlook the power of applying correct pricing models that can extract more value than the amount saved by cost cutting.
A study by McKinsey & Co. has shown that 1% improvement in price has led to 11.1% improvement in operating profits.
This course shows why pricing solely based on costs is not the optimal way to extract value. Instead; it proposes another model for pricing retail products, that takes into consideration the different dynamics of the market and other product & brand related factors.
Retail Pricing & Promotions Course Objectives
Upon completing this course, you should be able to:
- Understand the factors affecting retail pricing
- Learn about sales promotions and their role , as well as their downside
- Understanding discount rate and how it affects pricing
- Know the different costs related to the product
- Understand the different pricing methods and when to apply them
- Learn the step by step model for pricing a retail product portfolio
Upon completing the course and passing the final assessment, students get a course completion certificate.