Course Summary
Learn how to set prices and create profitable pricing strategies for your business in this course. Understand the fundamental concepts of pricing and gain insight into how pricing affects consumer behavior and business performance.Key Learning Points
- Understand the psychology behind pricing and how to use it to your advantage
- Learn how to analyze market data and set optimal prices for your products or services
- Explore different pricing models and strategies, including dynamic pricing and bundling
Related Topics for further study
Learning Outcomes
- Understand the importance of pricing and its impact on business performance
- Analyze market data to set optimal prices for your products or services
- Develop effective pricing strategies that can increase profitability
Prerequisites or good to have knowledge before taking this course
- Basic understanding of business concepts
- Familiarity with spreadsheet software (such as Excel)
Course Difficulty Level
IntermediateCourse Format
- Online self-paced course
- Video lectures
- Quizzes and assignments
Similar Courses
- Marketing Analytics: Pricing Strategies and Price Analytics
- Pricing Strategy Optimization
Related Education Paths
Related Books
Description
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.
Outline
- Demand Curve and Pricing
- Trailer
- Introduction to the course
- Importance of Pricing
- Pricing Complexity
- Pricing Approaches
- Cost Based Pricing
- Cost Based Pricing Printer Example
- Competition Based Pricing
- Customer Based Pricing
- Price Elasticity
- Optimal Price
- Expert Interviews: Felix Krohn of Wolters Kluwer
- How to Price Your Products
- The Price is Wrong
- Traditional Approaches to Pricing
- £1100 for a hamburger?
- Methods to Price Your Product
- Pricing Fashion with Science
- Price Elasticity of Demand
- Why the Highest Price isn’t the Best Price
- Pricing New Products
- Practice Quiz on the Importance of Pricing
- Practice Quiz on Price Elasticity
- Practice Quiz for Optimal Price
- Module 1 Graded Assessment
- Determining Willingness to Pay
- The Pricing Simulation
- Price Response Estimation
- Market Data
- Market Data Yogurt Example
- Experiments
- Expert Surveys
- Customer Surveys
- Customer Surveys Camera Example
- Advanced (OPTIONAL): Conjoint Analysis
- Willingness to pay – definition and meaning
- Link to the Pricing Simulation
- Measuring Willingness-to-Pay
- Price Testing
- Experiments in Pricing
- Best practices for every step of survey creation
- A Review of Methods for Measuring Willingness-to-Pay
- Practice Quiz on Price Experiments
- Module 2 Graded Assessment
- Playing the Pricing Piano or Price Discrimination
- What is Price Discrimination
- Forms of Price Discrimination
- Expert Interviews: Alejandro Hermo of Burger King
- Product Versioning - Complements
- Product Versioning - Substitutes
- Bundling
- Mixed Bundling Telecommunications Example
- Purchase Quantity
- Buyer Identification
- Purchase Location
- Time of Purchase
- Investopedia: What is Price Discrimination
- Price Differentiation
- Pay-per-laugh: Customers charged exactly for what they "consume"
- 1000% Price Markup?
- The Price You Pay Depends on Time and Day
- Practice Quiz on Bundling
- Module 3 Graded Assessment
- Pricing Psychology
- Pricing Psychology
- Pricing experiments: Price as a quality indicator
- Price Anchoring
- Pricing experiments: The Decoy Effect
- Prospect Theory
- Price Endings
- The Pain of Paying
- Brief of the course
- Ready to continue on this journey?
- Psychological Pricing: 4 Strategies, Examples and Tactics
- Quality Perceptions, Hitting the Spot
- A Luxury Example of Anchoring
- Price Endings' Field Experiments Results
- Pain of Paying, out in the Field
- Module 4 Graded Assessment
Summary of User Reviews
The Pricing Strategy course on Coursera has received positive reviews from students. Many have praised the course for its comprehensive coverage of pricing strategies and their practical applications. Overall, the course is highly recommended by its users.Key Aspect Users Liked About This Course
The course's comprehensive coverage of pricing strategies and practical applications.Pros from User Reviews
- Well-structured and easy to follow course materials
- Great insights and practical knowledge on pricing strategies
- Engaging and knowledgeable instructors
Cons from User Reviews
- Some students find the course too theoretical
- The course may be too basic for experienced pricing professionals
- Limited opportunities for interaction with other students
Martin Boehm
4.6 Raiting
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