Building Pricing and Promotion Skills
Pricing and promotion are important tactics that have a significant impact on volume and profit in a category. In order to make the best recommendations or decisions for pricing and promotion, you need to understand strategy, data and analytics associated with each of them, ultimately driving volume and profit.
Your program starts with a course on pricing that will help you understand the most common retail pricing strategies, how retail prices are set, and how new items are priced. This is followed by covering some advanced pricing analytic techniques including breakeven point, correlation and price regression, ABC and slope. The next course is on promotion, where you'll learn about promotional strategies for the retailer, including promotion planning and execution. Next, you'll learn about the variables that can affect the outcome of a promotion. Finally, you'll learn how to analyze promotion using calculations like lift, subsidy, incremental sales, correlation analysis, pantry loading, cannibalization and ROI.
The skills you develop in this program will result in more fact-based pricing and promotion decisions (and potential increased sales and profit) that align to overall Retailer strategies.
- Pricing Strategies and Analysis Techniques
- Promotion Analysis Techniques
- Approximately 5 hours to complete
- Prerequisites: None
- 365-day Access via CMKG's Online Training and Resource Center, including individual course Hands-On Workshops, Downloadable Notes & Reference Guides, Knowledge Checks, and Course Tests. Desktop, Laptop and Mobile Devices compatible.
- Ongoing student support (Email, Live Chat)