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Credits

Sponsored by Lorman Education
Product ID: 408255EAU
 
Credit & Course Provided by:

A Buyer's Guide to Pricing Strategies: Tips for Getting the Best Deal

OnDemand Webinar (87 minutes)

Get the best price for the most value when working with your vendors.Companies that take a thoughtful, careful, and thorough approach to procurement activities tend to end up with better pricing outcomes and better, more stable transactions. The topic will present you with frameworks for defining what constitutes optimum value from a pricing strategy, identify techniques for creating a competitive pricing environment, and identify potentially useful pricing structures and mechanisms and the incentives they create.

Authors

Francis X. Taney Jr., Taney Legal LLC

Agenda

Introduction and Seminar Goals

• Present Frameworks for Defining What Constitutes Optimum Value From a Pricing Strategy

• Identify Techniques for Creating a Competitive Pricing Environment

• Identify Potentially Useful Pricing Structures and Mechanisms and the Incentives They Create

Defining What the Best Deal Is

• Products vs. Services

• Commodities vs. Differentiated Products

• Price vs. Non-Price Value Components

- Quality

- Durability

- Technical Support

- Compatibility With Other Technology

- Potential Obsolescence

- Proximity/Access

- Vendor/Supply Chain Risk

- Geopolitical-Legal Stability Risk

- IP Theft Risk

- Public Relations Risk

- Other Legal/Contractual Considerations

Techniques for Creating Competitive Pricing

• RFP Process

• Internet Auctions

• Reverse Dutch Internet Auctions

• Reverse Japanese Internet Auctions

• Buyers' Cooperatives

• Buyer's Representatives

• Identifying Leverage Points

• Know Your Seller

• Know Your Seller's Competition

Pricing Structure Options and the Incentives They Create

• Lump Sum/Fixed Price

• Time and Materials

• Hybrid

• Alternative Pricing Structures

• Success Fee

• Transaction Based

• Royalty/Revenue Sharing

• Volume Based Discounts/Rebates

• Equity Grant