PRESENTER: Dr. Scott Davis, Principal, Strategic Marketing Decisions Scott Davis is the Principal and founder of Strategic Marketing Decisions. Before founding SMD he served on the marketing faculties of the Olin School of Business at Washington University in Saint Louis and the Graduate School of Management at University of California, Davis. He has also taught MBA pricing classes at the Haas School of Management at the University of California Berkeley, the Anderson School of Management at UCLA, the Carlson School of Management at the University of Minnesota and the Graduate School of Business at Stanford University. Dr. Davis has written a number of scholarly articles on topics including: pricing in dynamic competitive markets, signals of product quality, money-back guarantees, and price promotions. His articles have appeared in the Journal of Marketing Research, Journal of Retailing, and the Harvard Business Review, among others. One of the articles he co-authored, "How to Fight a Price War"-- is a Harvard Business School Publishing best-seller. He has received awards for both his teaching and his research and has been regularly invited as a speaker and instructor at conferences focusing on pricing. He has consulted internationally on pricing and marketing issues in a variety of industries including medical equipment, telecommunications, and packaged goods. His clients have ranged in size from new business start-ups to Fortune 500 companies in industries including medical equipment, services and supplies, telecommunications, financial services and entertainment. He was also the lead developer of the patented Revionics Market-Based Price Optimization System which provides optimal pricing for retailers. Estimating How Much a Customer Should Be Willing to Pay for Your Product or Service Many organizations would like to implement a value-based pricing strategy but they struggle to determine how much their customers will be willing to pay for their offerings. In this online course, Dr. Scott Davis will provide an overview of three main approaches that can be used to estimate a customer's willingness to pay.   The approaches covered include: Monetary (economic) value to the customer analyses, Survey-based approaches that utilize self-explicated preferences and/or trade-off (conjoint) analyses, and Revealed preference analyses that estimate customers' willingness to pay from actual purchase decisions. He will provide an overview of the analytical process needed to successfully implement each of these approaches along with illustrative examples of each. He will also discuss the strengths and limitations of each approach with an eye toward determining which approach(es) will be most successful in estimating customer value for a given set of offerings.