Managing Service Demand through Pricing and Distribution Strategies
Your marketing efforts are generating demand. While increased demand naturally drives business and success, it does come with specific sets of challenges. Mitigating these challenges requires a keen understanding of demand management. In essence, demand management requires us to ask, “How should we set our prices?” “How will we guarantee that our distribution partners ensure timely delivery?”
In this course, you will answer those questions and explore how pricing and distribution strategies can directly affect demand for your service.
Who Should Take this Course?
This course is appropriate for services marketing and operations professionals; industry professionals interested in analyzing services marketing data to make strategic decisions; services marketing managers and professionals who interact directly and communicate with customers; and product marketing professionals transitioning into a marketing role in service-centric firms.
Participants who complete this course will be able to...
- Estimate market demand for a service business
- Apply a strategic approach to pricing
- Identify pricing methods and tactics
- Select distribution channels
- Reduce channel conflict
Module 1: Estimating Market Demand for a Service Business
- What is Market Demand?
- Demand Management for Services
- Estimating Market Demand
- Tactics for Service Demand Management
Module 2: Applying a Strategic Approach to Pricing
- What is Price?
- Consumers and Price
- The Price is Right Price
- Internal Factors Affecting Pricing Decisions
- External Factors Affecting Pricing Decisions
Module 3: Identifying Pricing Methods and Tactics
- Introducing Four Approaches for Setting Price
- What is Competition-Based Pricing?
- Your Costs + Your Markup = Cost-Plus Pricing
- What are the Advantages and Disadvantages of Break-Even Pricing?
- Break-Even Pricing and Price Elasticity of Demand
- How Value-Based Pricing Derives Price from the Customer's Perception of Value
- Adjusting Price Based on Where a Product or Service is in Its Lifecycle
- Yield Management as a Pricing Strategy
Module 4: Selecting Distribution Channels
- What is Distribution?
- The Role of Wholesalers and Retailers in Distribution
- Using Franchising as a Service Distribution Strategy
- How Marketing Channels Create Value
Module 5: Reducing Channel Conflict
- Marketing Channel Dynamics
- Channel Strategy, Structure, and Members
- Coordinating, Incentivizing, and Evaluating Channel Partners
- Success Factors for the Retail Channel
- Robert Kwortnik, Associate Professor, School of Hotel Administration