Pricing Habits of Highly Successful Entrepreneurs at the Chicago Booth Entrepreneurial Roundtable
How should executives think of pricing? More specifically, how do highly successful entrepreneurs do pricing? Is it different than standard corporate pricing? What are the parallels and what are the differences?
In Pricing Habits of Highly Successful Entrepreneurs, Tim J. Smith, (Weekend ’01) will sharehow highly successful entrepreneurs use value-based pricing to simultaneously grow their business and achieve profitability.
Attendees will learn:
- Value-based pricing – driving both profits and customer adoption
- The three key questions to address for every pricing question
- The three key financial questions that must be asked, but have almost no impact on pricing
- How value-based pricing is used to define business and marketing objectives
- The three academically accepted and industry proven approaches to price setting
- How to strategically manage prices in the face of competition using the concepts of competitive advantage and pricing power
- The proper role and management of discounting
- How highly-successful entrepreneurs approach pricing differently than corporate pricing functions