Market and Competition in Pricing Strategy

Course Provided by: University of Virginia, BCG
Course Taken on: Coursera
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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
  • English
  • Jean Manuel Izaret, Ronald T. Wilcox, Thomas Kohler
  • Coursera