Is price a major indicator of quality? Can a price increase lead to growth in demand?

Consumer perception of luxury brands is heavily influenced by price. Commonly characterized by their quality, craftsmanship, and exclusivity; luxury brands thrive on consumers’ thirst for status.

Ultra-luxury products sell, even in a market downturn, compared to midrange items.   Discerning consumers expect luxury brands to justify their price by adding value with gifts or loyalty programs rather than discounting.  To increase market share without damaging brand perception - some luxury brands have begun to create extensions into secondary lines with relatively lower price points.

Is price a major indicator of quality? 

Can a price increase lead to growth in demand?

Core pricing skills such as pricing for different customer segments, implementing pricing increases, and understanding and measuring price elasticity should be in every pricing professional’s playbook.   Are you a seasoned pricer who hasn’t thought about core pricing principles in a while?  Or are you new to pricing?

Learn leading pricing methodologies from dozens of case studies from a variety of industries in Professional Pricing Society’s Full-Day Core Pricing Skills Workshop.  Jan Weiser and Shenaz Bilkis from Simon-Kucher & Partners will engage workshop attendees, giving all participants the opportunity to ask questions and add from their own experience. 

Attendees will master the essentials of pricing performance by learning:

• Why pricing is the profit lever
• The fundamentals of value pricing
• Segmentation and price differentiation
• Making pricing change stick through better price implementation

Weiser and Bilkis will be leading the workshop Core Pricing Skills at the PPS 2nd Annual Asia-Pacific Pricing Workshops and Conference in Singapore this April.