Why is Pricing So Critical? 

How a company prices its products is one of the most important and pricing-simulation-computerdifficult decisions to be made in executing a strategy. Pricing is a complex process that requires utilizing internal and external resources, market data, and cost information to determine an appropriate level that remains attractive to customers and maintains margins. To help professionals better understand the challenges, opportunities and process of pricing, Advantexe has developed the Pricing business simulation, a cloud-based learning application.

How Does the Simulation Work?

Advantexe’s Pricing Simulation is a case study that comes to life. In this simulation, learners take on the role of the Brand Manager for the RoboClean H100, a home cleaning robot. RoboClean H100’s revenues have been flat for the past 2 years and is facing steep new competition. Learners analyze market data and make a series of decisions including material and packaging quality, setting a margin goal, reacting to competitive positioning, determining the operational support budget, and setting the price based on their strategy and chosen market segment. The learner’s goal is to test various pricing strategies in order to maximize revenues, profitability, and customer satisfaction.

What are the Benefits of the Pricing Simulation?

This Pricing Simulation helps learners to understand the issues associated with executing a pricing strategy. Specifically, learners will 

  • Understand the drivers of pricing
  • Recognize how customers respond to price shifts
  • Discover how different pricing strategies affect a company’s financial performance
  • Develop responses to offset competitive pricing reactions
  • Understand the impact of pricing on profit margins

Additional Information

How Can You Use the Simulation? 

The pricing simulation can be used as part a live half day session or delivered 100% virtually as part of an interactive group or self-study virtual learning journey.

 

Who is the is the Simulation Designed For?

The Pricing business simulation is the perfect fit for employees at all levels who need to build a greater understanding of pricing including sales, marketing, finance, and customer services representatives.
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