The Certified Pricing Specialist (CPS) certification is ideal for those who wish to establish, maintain and analyse price reference documentation, and to make recommendations that will facilitate optimal pricing decisions to be made by Pricing, Marketing and Sales team
Description
The Certified Pricing Specialist (CPS) certification is ideal for those who wish to establish, maintain and analyse price reference documentation, and to make recommendations that will facilitate optimal pricing decisions to be made by Pricing, Marketing and Sales team. The CPS is trained to: (1) provide regular and ad hoc pricing analysis and reporting for management; (2) work with Product Management to develop and implement product price strategies including segment strategies for the various markets and channels; (3) coordinate proposal development with the sales team and management; (4) align revenue management practices with the business context; (5) create customer loyalty and retention programs; (6) take initiative in identifying and resolving issues around pricing and margin: and (7) perform other duties as assigned, including ad-hoc analysis on methods to optimise price through market and pricing strategies.
AFMA Certification can be obtained by undertaking an AFMA approved Training Program.
Training: For those wishing to undertake training to obtain certification, this course trains individuals to: (1) understand the role of pricing in the marketing process; (2) differentiate between price, value and satisfaction; (3) develop winning value propositions; (4) consider the role of customer-engagement marketing; (5) consider pricing issue in the digital age: online, mobile, and social media marketing; (6) appreciate cost-price relationships in international pricing; (7) recognise the impact of the price elasticity of demand; (8) be aware of the external and internal factors affecting a firm’s pricing decisions; (9) implement price adjustments; (10) master risk averse pricing strategies; (11) defining key characteristics of revenue management; (12) identifying revenue and cost drivers; and (13) data analytics to support revenue management.
Assessments: These are designed to validate your knowledge of the subject area, as well as increase employability skills, and coaching skills by testing that knowledge and your ability to apply it (i.e., competency).
The Certified Pricing Specialist (CPS)TM Board Certification is awarded to individuals who have met our requirements
