Market and Competition in Pricing Strategy
- 4.8
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Approx. 12 hours to complete
Course Summary
Learn about pricing strategies and market competition from top executives at BCG and Darden School of Business at the University of Virginia.Key Learning Points
- Understand the key drivers of pricing strategies and how to make informed pricing decisions
- Learn how to analyze market dynamics and competition to develop effective pricing strategies
- Explore case studies from real-world companies and industries
Job Positions & Salaries of people who have taken this course might have
- USA: $65,000 - $95,000
- India: ₹4,00,000 - ₹9,00,000
- Spain: €25,000 - €50,000
- USA: $65,000 - $95,000
- India: ₹4,00,000 - ₹9,00,000
- Spain: €25,000 - €50,000
- USA: $90,000 - $140,000
- India: ₹6,00,000 - ₹17,00,000
- Spain: €40,000 - €70,000
- USA: $65,000 - $95,000
- India: ₹4,00,000 - ₹9,00,000
- Spain: €25,000 - €50,000
- USA: $90,000 - $140,000
- India: ₹6,00,000 - ₹17,00,000
- Spain: €40,000 - €70,000
- USA: $150,000 - $300,000
- India: ₹25,00,000 - ₹65,00,000
- Spain: €80,000 - €150,000
Related Topics for further study
Learning Outcomes
- Develop pricing strategies based on market dynamics and competition
- Analyze the impact of pricing decisions on business performance
- Apply pricing concepts to real-world case studies
Prerequisites or good to have knowledge before taking this course
- Basic understanding of business and economics
- Familiarity with Excel and basic statistics
Course Difficulty Level
IntermediateCourse Format
- Online
- Self-paced
Similar Courses
- Marketing Analytics: Competitive Analysis and Market Segmentation
- Pricing Strategy Optimization
- Marketing Mix Implementation
Related Education Paths
Notable People in This Field
- Dharmesh Shah
- Neil Patel
- Seth Godin
Related Books
Description
If you haven’t considered what the competition is charging, you may not be maximizing your revenue. Spend time analyzing the market and you can influence price and improve margins. In this course, we'll show you how to implement competitive pricing and avoid common legal pitfalls of market-based pricing. You will also learn how to predict, influence and respond to competitors’ pricing moves. Developed at the Darden School of Business at the University of Virginia, and led by top-ranked Darden faculty and Boston Consulting Group global pricing experts, this course provides an in-depth understanding of market-based pricing and how to use it to capture more revenue.
Knowledge
- Market and competition applications in product pricing
- How to utilize game theory to influence market pricing
- How to leverage competitor pricing models and knowledge of the product lifecycle to price products
- Strategies for price discrimination in competitive markets
Outline
- Understanding the Playing Field
- Pricing Specialization Overview
- Three Lenses
- Course Introduction
- Legal Structures Related to Pricing
- The Sherman Antitrust Act
- The Clayton Act
- The Robinson-Patman Act
- Common Practices & Shifts in Interpretation
- Competitive Framework
- Week 1 Takeaways
- Course Overview & Requirements
- Survey
- Using Discussion Forums to Deepen Your Learning
- Practice Quiz on Legal Aspects of Pricing
- Practice Quiz on the Competitive Framework
- Week 1 Quiz on Understanding the Playing Field
- Predicting Competitive Reactions
- Week 2 Introduction
- Value Mapping
- Value Mapping: Sandisk vs PNY
- Introduction to Game Theory
- The Prisoner's Dilemma
- The Evolution of Cooperation
- Signaling Games
- Extensive Form Signaling Games
- Gas Wars and Takeaways
- Week 2 Takeaways
- Practice Quiz on Value Mapping
- Practice Quiz on Game Theory
- Week 2 Quiz on Predicting Competitive Reactions
- Disrupting Markets and Engaging in "Coopetition"
- Week 3 Introduction
- Competitor Pricing Models
- Competitive Price Moves: Understand Competitive Dynamics
- Competitive Price Moves: Assess Your Options
- Competitive Price Moves: Choose and Execute Best Move
- Price Wars
- Pricing through the Product Life Cycle
- Pricing in the Growth Phase
- Pricing in the Maturity Phase
- Pricing in the Decline Phase
- Case Introduction: SmartOps
- Case Debrief: SmartOps
- Week 3 Takeaways
- Case Study: SmartOps Corporation: Forging Smart Alliances?
- Practice Quiz on Competitor Pricing Models
- Practice Quiz on Pricing through the Product Life Cycle
- Week 3 Quiz on Disrupting Markets and Engaging in Coopetition
- Implementing Price Discrimination in Competitive Markets
- Week 4 Introduction
- Customer Segmentation Strategies
- B2B Segmentation Strategies
- Weber-Fechner Law of Pricing
- Weber-Fechner and Pricing
- Pricing Your Least Expensive Products
- Pricing Your Most Expensive Products
- Bundle Pricing
- Creating Economically Sound Pricing Bundles
- Week 4 Takeaways
- Practice Quiz on Customer Segmentation Strategies
- Practice Quiz on Product Line Pricing
- Practice Quiz on Bundle Pricing
- Week 4 Quiz on Implementing Price Discrimination in Competitive Markets
Summary of User Reviews
The UVA Darden BCG Pricing Strategy & Market Competition course on Coursera received positive reviews from users. Many users found the course to be comprehensive and informative. The course covers pricing strategies and market competition in depth, making it a valuable resource for those interested in these topics.Key Aspect Users Liked About This Course
Comprehensive and informative course contentPros from User Reviews
- In-depth coverage of pricing strategies and market competition
- High-quality video lectures with clear explanations
- Engaging assignments that reinforce learning
- Expert instructors with real-world experience
- Flexible schedule allows for self-paced learning
Cons from User Reviews
- Some users found the course content to be too basic
- The course may not be suitable for those without a basic understanding of economics
- Some users found the course to be too theoretical and not practical enough
- Limited interaction with instructors and other students
- No certificate of completion for audit learners
Jean Manuel Izaret
4.8 Raiting
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Market and Competition in Pricing Strategy
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If you haven’t considered what the competition is charging, you may not be maximizing your revenue. Spend time analyzing the market and you can influence price and improve margins....
