Course Overview & Objectives

Welcome to the Pricing Academy, your comprehensive guide to mastering the fundamentals of product pricing in eCommerce. This course is designed to equip marketers, business owners, and pricing strategists with the knowledge, tools, and techniques they need to create successful pricing strategies to maximize profitability and customer satisfaction.

The content of this course has been carefully curated, polished and perfected to ensure a comprehensive coverage of all aspects of eCommerce pricing. We will start off with the basic understanding of product pricing and gradually delve into the fine details of pricing strategy, providing you with valuable insights at each step. 

Course Objectives

By the end of this course, you will be able to:

  1. Understand the fundamentals of product pricing in eCommerce: You will learn about the special characteristics of retail, the importance of product choice and price comparison, the role of traffic and advertising, and the dynamics of market and competitor pricing. 
  2. Understand the Impact of Profit and Revenue Share on eCommerce Product Pricing: We will explore different products as profit and revenue drivers, and how to incorporate this understanding into cost allocation and informed pricing.
  3. Leverage product groups in eCommerce for strategic pricing: You will learn how to prevent cannibalization, use value classes, and optimize pricing within product groups.
  4. Identify and choose Key Value Items (KVIs) for an effective pricing strategy: We will cover what KVIs are, how to identify them, and how to choose them while adapting to the digital retail era.
  5. Understand product cannibalization in retail: Gain insights into whether product cannibalization is negative or strategic, and understand the associated challenges in retail.
  6. Strategically avoid cannibalization: Learn to use techniques such as market segmentation, demand forecasts, data-driven basket analysis, and unique product features to avoid cannibalization.
  7. Master the ABCs of product classification: We will cover how to conduct an ABC analysis, its benefits, limitations, and solutions.
  8. Build a profitable and complementary product portfolio in eCommerce: We will delve into complementing your portfolio, encouraging cross-selling and bundling, removing non-performing products, and maintaining an optimal catalog size.

All lectures will end with a self-assessment quiz to test your understanding of the covered topics. 

It's time to unleash your inner pricing champion and conquer the eCommerce world! Let's embark on this journey to pricing mastery together!

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