Pricing Strategy

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Opleiderscore: starstarstarstar_borderstar_border 6,3 Coursera (CC) heeft een gemiddelde beoordeling van 6,3 (uit 4 ervaringen)

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Beschrijving

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  • Paid plan: Commit to earning a Certificate—it's a trusted, shareable way to showcase your new skills.

About this course: Pricing is one of the most important but least understood marketing decisions. Learn and practice concepts, techniques, and get to grips with the latest thinking on assessing and formulating pricing strategies. Analyze how firms attempt to capture value, as well as profits, in the revenues they earn. After this course, you will be able to contribute to the process of formulating pricing strategies for your own products and services, or those of your firm. This course has an additional focus on pricing dynamics and the reaction to and by competitors, taking a highly pragmatic approach and one that is directly applicable to your day-to-day professional life. Martin Boeh…

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Veelgestelde vragen

Heb je een vraag? Onze adviseurs helpen je graag. Bel ons op 085 7440830 of e-mail naar info@springest.nl.

Nog niet gevonden wat je zocht? Bekijk deze onderwerpen: Pricing, Marketing Intelligence, R Programmeren, NIMA Marketing-A en NIMA Marketing-B.

When you enroll for courses through Coursera you get to choose for a paid plan or for a free plan

  • Free plan: No certicification and/or audit only. You will have access to all course materials except graded items.
  • Paid plan: Commit to earning a Certificate—it's a trusted, shareable way to showcase your new skills.

About this course: Pricing is one of the most important but least understood marketing decisions. Learn and practice concepts, techniques, and get to grips with the latest thinking on assessing and formulating pricing strategies. Analyze how firms attempt to capture value, as well as profits, in the revenues they earn. After this course, you will be able to contribute to the process of formulating pricing strategies for your own products and services, or those of your firm. This course has an additional focus on pricing dynamics and the reaction to and by competitors, taking a highly pragmatic approach and one that is directly applicable to your day-to-day professional life. Martin Boehm - IE Professor and Dean of the Business School with over 10 years experience - will guide you through four modules. We begin with the importance of pricing and how it ultimately can affect the bottom line. Then, we move on to methods to help you decide what is the optimal price for your product; and then price discrimination - should all your products follow the same pricing strategy or should you differentiate depending on the customer segment? Finally, we look at pricing psychology and how you can manipulate customers in order to drive the highest possible price for your product.

Who is this class for: This course is aimed at business-minded individuals interested in harnessing the power of pricing strategies to improve the profits of their own company or the company they are working for. A basic understanding of the principles of marketing and pricing would be an advantage but it is not essential.

Created by:  IE Business School
  • Taught by:  Martin Boehm, Professor of Marketing

    Dean of IE Business School
Basic Info Course 2 of 5 in the Marketing Mix Implementation Specialization Language English How To Pass Pass all graded assignments to complete the course. User Ratings 4.6 stars Average User Rating 4.6See what learners said Coursework

Each course is like an interactive textbook, featuring pre-recorded videos, quizzes and projects.

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IE Business School IE Business School is an internationally recognized business school where the leaders of tomorrow shape their ideas and learn to become global citizens. For over 40 years, IE Business School has promoted innovation and change in organizations, equipping managers with an entrepreneurial mindset that generates employment, wealth, and social well-being. Regularly featured among the top business schools in the world, IE Business School has an urban campus in Madrid and a faculty of more than 400 professors who teach students from approximately 90 countries in its undergraduate and master programs. IE uses innovative online, face-to-face, and blended learning formats, including the IE Communities Platform where knowledge and experiences are exchanged with over 50,000 IE graduates that currently hold management positions in more than 100 countries worldwide.

Syllabus


WEEK 1


Demand Curve and Pricing



In this module we will start with the importance of pricing, especially for the bottom line. Having this in mind, and after showing how pricing is the most important driver of profitability, when you finish this module you will be able to execute cost, competition and customer-based pricing. You will also be able to use the concepts of price elasticity and optimal price while setting prices for your products and services.


11 videos, 8 readings, 3 practice quizzes expand


  1. Video: Trailer
  2. Video: Introduction to the course
  3. Video: Importance of Pricing
  4. Reading: The Price is Wrong
  5. Practice Quiz: Practice Quiz on the Importance of Pricing
  6. Video: Pricing Complexity
  7. Video: Pricing Approaches
  8. Reading: Traditional Approaches to Pricing
  9. Video: Cost Based Pricing
  10. Reading: £1100 for a hamburger?
  11. Video: Competition Based Pricing
  12. Video: Customer Based Pricing
  13. Reading: Methods to Price Your Product
  14. Reading: Pricing Fashion with Science
  15. Video: Price Elasticity
  16. Reading: Price Elasticity of Demand
  17. Practice Quiz: Practice Quiz on Price Elasticity
  18. Video: Optimal Price
  19. Reading: Why the Highest Price isn’t the Best
  20. Reading: Pricing New Products
  21. Practice Quiz: Practice Quiz for Optimal Price
  22. Video: Expert Interviews: Felix Krohn of Wolters Kluwer

Graded: Module 1 Graded Assessment

WEEK 2


Determining Willingness to Pay



After finishing this module you will be able to take advantage of four different methods to determine the willingness to pay from customers. Whether using Market Data or Experiments (Observation based) or Expert or Customer Surveys (Survey based), you'll be able to use this information in order to identify the optimal price.


6 videos, 6 readings, 1 practice quiz expand


  1. Video: The Pricing Simulation
  2. Reading: Link to the Pricing Simulation
  3. Video: Price Response Estimation
  4. Reading: Measuring Willingness-to-Pay
  5. Video: Market Data
  6. Video: Experiments
  7. Reading: Price Testing
  8. Reading: Experiments in Pricing
  9. Practice Quiz: Practice Quiz on Price Experiments
  10. Video: Expert Surveys
  11. Video: Customer Surveys
  12. Reading: Best practices for every step of survey creation
  13. Reading: A Review of Methods for Measuring Willingness-to-Pay

Graded: Module 2 Graded Assessment

WEEK 3


Playing the Pricing Piano or Price Discrimination



What we see in the real world is that companies don't only charge one price for all their products, but rather set different prices for different products with respect to different customer segments. After looking at the benefits of price discrimination (and the significant revenue and profit potential behind it), you will be able to figure out what type and how to implement price discrimination for your products and services.


9 videos, 4 readings, 1 practice quiz expand


  1. Video: What is Price Discrimination
  2. Reading: Price Differentiation
  3. Video: Forms of Price Discrimination
  4. Reading: Pay-per-laugh: Customers charged exactly for what they "consume"
  5. Video: Expert Interviews: Alejandro Hermo of Burger King
  6. Video: Product Versioning
  7. Reading: 1000% Price Markup?
  8. Video: Bundling
  9. Practice Quiz: Practice Quiz on Bundling
  10. Video: Purchase Quantity
  11. Video: Buyer Identification
  12. Video: Purchase Location
  13. Video: Time of Purchase
  14. Reading: The Price You Pay Depends on Time and Day

Graded: Module 3 Graded Assessment

WEEK 4


Pricing Psychology



In this final module we will look at pricing psychology. You will then be able to "manipulate" customers so they perceive a higher value in the products and services that you deliver, or so that they feel less pain by paying the price of purchasing your products. You will have in your toolkit multiple ways to maximize your sales, revenues, and profitability. We will also conduct a couple of experiments with volunteer customers to see how price affects perceptions, and how you can profit from it.


8 videos, 4 readings expand


  1. Video: Pricing Psychology
  2. Video: Pricing experiments: Price as a quality indicator
  3. Reading: Quality Perceptions, Hitting the Spot
  4. Video: Price Anchoring
  5. Reading: A Luxury Example of Anchoring
  6. Video: Pricing experiments: The Decoy Effect
  7. Video: Prospect Theory
  8. Video: Price Endings
  9. Reading: Price Endings' Field Experiments Results
  10. Video: The Pain of Paying
  11. Reading: Pain of Paying, out in the Field
  12. Video: Brief of the course

Graded: Module 4 Graded Assessment

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