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

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.

Runtime: 88 minutes
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Why Lorman?

Over 34 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

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
    • GeopoliticalLegal 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
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Why Lorman?

Over 34 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

OnDemand Course

This course was last revised on March 31, 2021.

Call 1-866-352-9540 for further credit information.

  • AIPB 1.5
     
  • This program is acceptable for 1.5 CPEC(s) towards the CB designation through the American Institute of Professional Bookkeepers (AIPB).
     
  • ISM 1.25
     
  • Participants who successfully complete this program will receive 1.25 hours of continuing education. They may be applied toward ISM CPSM, CPSD or C.P.M. recertification. ISM's consent to approve hours for this educational event is not an endorsement of this program or its content by ISM.
     

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

MP3 Download

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

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Why Lorman?

Over 34 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Francis X. Taney, Jr.

Francis X. Taney, Jr.

Taney Legal LLC

  • 25 years of experience with both negotiation of professional service contracts and litigation arising from such contracts
  • Tried approximately 50 cases to verdict or award in bench and jury trials, arbitrations, and other administrative proceedings
  • Has coordinated the legal strategies for close to 100 technology-based startup companies
  • Legal Intelligencer “Lawyer on the Fast Track”
  • Pennsylvania Super Lawyers “Rising Star”
  • SmartCEO “Legal Elite” list
  • Featured legal commentator on Fox Business Network “Money for Breakfast” and CNBC “Power Lunch” segments
  • Selected published works include: "Technology Transactions and Effective Litigation Management", chapter, Inside the Minds: Technology Law Client Strategies, 2007; "Navigating the IT Outsourcing and Procurement Process", chapter, CIO Wisdom II: More Best Practices – Harris Kern Enterprise Computing Institute, 2006; and "Securing the Whole Enterprise: Business and Legal Issues", an article he co-wrote with Thomas Costello, IT Professional, 2006
  • Can be contacted at 215-514-8736 or [email protected]
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Why Lorman?

Over 34 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

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Product ID: 408255
Published 2021
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