2 credit hours
This course prepares students to address strategic and tactical pricing issues. They will identify profit-boosting changes in pricing practices across a range of professional contexts as management consultants, product managers, entrepreneurs, business unit managers and mergers and acquisition advisors.
Pricing presents managers with one of their most powerful levers for maximizing profits and shareholder value. However, this value often lies untapped within many organizations. Managers often lack a clear understanding of how to improve on historical pricing practices within their companies and industries and how to apply such knowledge to new product settings.
The course will draw on a mixture of analytic marketing techniques, marketing strategy and economic theory to describe approaches that are useful for optimal pricing decisions. Some examples of questions we will address in the course include:
- How does a firm determine the price for a new product?
- How does a firm assess whether the current price is appropriate?
- What is value pricing?
- Which price segmentation strategy is optimal?
- How can a firm avoid a price war?
The course will use a mix of lectures, a real-world pricing project/engagement, in-class simulations and guest speakers. Mini-cases and problems will also be employed to help students apply their learning to practical situations.
Watch the below video for a brief introduction to the Pricing course: