ITA501 - Pricing and Quoting

Outline information
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Last revision date May 25, 2020 1:48:59 AM
Last review date Aug 3, 2020 12:15:13 AM

Subject Title
Pricing and Quoting

Subject Description
Costing, quoting and logistics sales is vital to a freight forwarding operation. The student will learn how to determine the actual costs of moving cargo by various modes of transportation, how to convince the clients that these services best suit their needs, and how to sell that cost (plus profit) to the potential clients. The student will learn how to cost consolidations to obtain the highest possible profit margin, and how to deal with the constantly changing variables of currency exchange rates, fuel surcharges, currency adjustment factors, port congestion surcharges, etc. Consultation with clients on their costing and pricing, up to and including selling prices based on Incoterms is covered.

Credit Status
Required for the International Transportation and Customs Diploma Program. (TCS)

Learning Outcomes
Upon successful completion of this subject the student will be able to:

1. Identify the variables which can affect net price.
2. Cost export consolidations for ocean and air shipments.
3. Determine the appropriate quotation format for varying types of shipments.
4. Prepare revenue costing for consolidated shipments.
5. Prepare quotations which consider financial and legal aspects of the transaction.
6. Demonstrate how a freight forwarder will sell their quotation and services using effective personal selling techniques.
7. Explain market research conducted by the freight forwarder.
8. Analyze buyer behaviour.
9. Demonstrate how a freight forwarder will handle customer complaints regarding pricing.

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