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.
Pricing Strategy
Pricing Strategy
This course is part of Marketing Mix Implementation Specialization
Instructor: Martin Boehm
46,281 already enrolled
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Gain insight into a topic and learn the fundamentals.
4.6
(1,006 reviews)
Beginner level
No prior experience required
Flexible schedule
Approx. 13 hours
Learn at your own pace
90%
Most learners liked this course
What you'll learn
Know the pricing approach for a product or service and consider the pricing psychology effects on the perception of quality.
Learn how to make a price discrimination based on customer characteristics and using purchase quantity, bundling and product versioning.
Discover the willingness to pay or price response of customers using surveys, experiments and market data.
Calculate the price elasticity for a given product or service and find out which is its optimal price.
Skills you'll gain
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Assessments
9 assignments
Taught in English
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This course is part of the Marketing Mix Implementation Specialization
When you enroll in this course, you'll also be enrolled in this Specialization.
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There are 4 modules in this course
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.
What's included
12 videos7 readings4 assignments
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.
What's included
9 videos6 readings2 assignments1 app item1 discussion prompt
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.
What's included
11 videos3 readings2 assignments1 peer review
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.
What's included
9 videos3 readings1 assignment
Instructor
Instructor ratings
4.7 (119 ratings)Offered by
Recommended if you're interested in Marketing
Illinois Tech
University of Illinois Urbana-Champaign
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4.6
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Showing 3 of 1006
CT
5
Reviewed on Jun 20, 2017
In my opinion it is the best course in the specialization. Excellent sources articles and book to study and expand the price knowledge. The course gave enough encouragement to learn more.
SA
5
Reviewed on Nov 28, 2016
Got great content. Helps in pricing-decision-making analytically as well. Very good examples and simulation. Enjoyed the course. Totally worth it.
JS
5
Reviewed on Jul 21, 2019
Good course on pricing. It was a review of a similar class I have taken elsewhere, but even so I learned new concepts or ways to approach pricing. Some of the readings were very technical.
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