Pricing Strategy in Practice from Coursera

What's inside

Syllabus

Retail Market Dynamics

Welcome to the course! We'll kick off the week with an overview of the project, which centers around Philips introduction of an eco-friendly light bulb. Once you've read the case, Thomas and Ron will guide you as you apply the cost lens to analyze the economics of the LED light bulb Philips has introduced to the market. After you've analyzed the economics of the case, Ron and Thomas will debrief to make sure you are on the right track. You will also hear from BCG pricing experts, who will share their lessons and tips gleaned from years of helping clients in multiple industries optimize their prices and improve the bottom line.

Customer Value and Conjoint Analysis

This week, we will dig deeper into customer value using conjoint analysis to determine the price sensitivity of consumers and businesses. Thomas and Ron will show you how to graph the conjoint data to easily compare these two markets--and you'll do additional analysis of the conjoint data to learn more about what consumers value. Using your analysis, you'll hone your pricing recommendation.

Price Recommendation

This week, you will pull everything together to make a pricing recommendation for Philips. You will recommend which markets they should serve (B2B, B2C, or both) and how they should price their LED bulbs. You'll learn how to lay out your thought process and rationale in a tightly edited slide deck that presents your recommendations in a compelling way.

Curveball

This week, you will respond to new developments in the LED light bulb market: a new competitor and new regulations. Just like in real life, you'll need to adjust your strategy when the competitive landscape changes and new regulations emerge and reconsider the retail marketplace and reevaluate the B2B market. You'll also head out into your own "real world" and do some detective work about the LED bulb market in your area and relate those finding to the case. We'll finish the course with BCG pricing experts sharing their insights into what makes pricing such a rewarding field.

Good to know

Know what's good

, what to watch for

, and possible dealbreakers

Teaches learners to conduct conjoint analysis to set profit-maximizing prices

Develops concepts and tools from economics, including price, share, and industry dynamics, for optimizing prices

Develops foundational pricing skills, a core skill for business professionals in marketing

Develops pricing strategy skills, a core skill for business professionals in management

Offers hands-on pricing practice, which can provide real-world experience

Reviews summary

Pricing strategy excellence

learners say this well received course that teaches pricing strategy. The course features informative lectures and helpful real world experiences to help students develop successful pricing strategies. However, assignment reviewing may be delayed.

Moderate difficulty; not exhaustive.

"This course offers a solid introduction into the field of pricing strategy."

"Very basic course content."

"The reason this course does not receive full marks is simply due to the fact that the quizzes could be more exhaustive to ensure that you have learned the materials."

Course offers top-notch business insights.

"Excellent presented case!!"

"A course that is well taught and highly informative."

"Excellent course! The best business management course I've learned ever."

Course offers real-world pricing experience.

"The faculty had very rich experience in Pricing and their sharing of the real world experiences enriched the learning experience."

"Great course, Fantastic tutors (both from Darden and BCG)."

"The online specialization named in this certificate may draw on material from courses taught on-campus, but the included courses are not equivalent to on-campus courses."

Grading for assignments can take multiple weeks.

"My finishing assignment has not been reviewed for more than 7 days."

"course was good but the grading process is really bad... I finished all my course work and assignments 2 weeks back and still waiting for the grading to be finished."

"This review system is bad. I will not get the certificates because nobody is there to review my assignment. Pathetic!"

Activities

Be better prepared before your course. Deepen your understanding during and after it. Supplement your coursework and achieve mastery of the topics covered in Pricing Strategy in Practice with these activities:

Review Basic Statistics and Calculus

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Sharpen your basic statistics and calculus skills to enhance your ability to analyze pricing data and make informed pricing decisions.

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Review key concepts in statistics, such as mean, median, and standard deviation.
Practice solving basic calculus problems involving differentiation and integration.

Watch Video Tutorials on Advanced Pricing Techniques

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Expand your knowledge of pricing strategies by watching video tutorials from industry experts.

Browse courses on Pricing Strategy

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Search for and select video tutorials on advanced pricing techniques.
Watch the tutorials and take notes on key concepts and insights.
Apply the concepts learned from the tutorials to real-world pricing scenarios.

Read 'The Economics of Business Strategy' by Michael E. Porter

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Conduct an in-depth study of the concepts and frameworks within 'The Economics of Business Strategy' to grasp core principles of pricing strategy.

View HBR at 100: The Most Influential and Innovative... on Amazon

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Read and understand each chapter thoroughly.
Take notes of key concepts and highlight important passages.
Summarize the main ideas of each chapter in your own words.

Five other activities

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Solve Practice Problems on Market Segmentation and Pricing

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Reinforce your understanding of market segmentation and pricing strategies by solving a series of practice problems.

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Identify the different market segments for a given product or service.
Develop pricing strategies for each market segment.
Analyze the impact of different pricing strategies on market share and profitability.

Participate in a Peer Discussion on Pricing Strategies for Emerging Markets

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Engage with peers to discuss and learn about the unique challenges and opportunities of pricing in emerging markets.

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Identify and prepare a topic for discussion on pricing strategies for emerging markets.
Join a peer discussion group and actively participate in the discussion.
Share insights, experiences, and best practices related to pricing in emerging markets.

Develop a Conjoint Analysis to Determine Consumer Willingness to Pay

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Gain practical experience in using conjoint analysis, a powerful technique for understanding customer preferences and determining optimal pricing.

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Identify the relevant factors and attributes to include in the conjoint analysis.
Design and conduct the conjoint analysis survey.
Analyze the data to determine the relative importance of each factor and attribute.
Develop a predictive model for customer willingness to pay based on the conjoint analysis results.

Compile a Case Study Repository on Pricing Strategies in Different Industries

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Develop a comprehensive understanding of pricing strategies across industries by compiling and analyzing case studies.

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Identify and collect case studies on pricing strategies from various industries.
Analyze the case studies to identify key factors influencing pricing decisions.
Develop a framework for comparing and contrasting pricing strategies across industries.

Pricing Simulation

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Create a pricing simulation model to apply the concepts learned in the course to a real-world scenario.

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Choose a product or service to price.
Research the market and competition.
Develop a pricing model.
Test the model using different scenarios.
Present your findings and recommendations.

Career center

Learners who complete Pricing Strategy in Practice will develop knowledge and skills that may be useful to these careers:

Market Research Analyst

Market Research Analysts study market conditions to understand how customers are likely to respond to different products and services, including their pricing. They help businesses make decisions about marketing, product development, and pricing strategy. This course can provide you with the foundational knowledge and skills you need to succeed in this role, including customer value analysis, conjoint analysis, and competitive market analysis.

See salaries and explore the career path for Market Research Analyst

Pricing Analyst

Pricing Analysts study the factors that affect the price of goods and services, including market demand, cost of production, and competitive pricing. This course can provide you with the foundational knowledge and skills you need to succeed in this role, including cost analysis, customer value analysis, and competitive market analysis.

See salaries and explore the career path for Pricing Analyst

Product Manager

Product Managers are responsible for the development and marketing of products and services. They work with cross-functional teams to ensure that products meet customer needs and are priced competitively. This course can provide you with the foundational knowledge and skills you need to succeed in this role, including customer value analysis, conjoint analysis, and competitive market analysis.

See salaries and explore the career path for Product Manager

Marketing Manager

Marketing Managers are responsible for developing and executing marketing campaigns to promote products and services. They work with cross-functional teams to ensure that marketing strategies are aligned with business goals and pricing strategies. This course can provide you with the foundational knowledge and skills you need to succeed in this role, including customer value analysis, conjoint analysis, and competitive market analysis.

See salaries and explore the career path for Marketing Manager

Sales Manager

Sales Managers are responsible for leading and motivating sales teams to achieve sales goals. They work with customers to understand their needs and develop pricing strategies that are mutually beneficial. This course can provide you with the foundational knowledge and skills you need to succeed in this role, including customer value analysis, conjoint analysis, and competitive market analysis.

See salaries and explore the career path for Sales Manager

Business Analyst

Business Analysts work with businesses to improve their operations and performance. They identify problems and opportunities, and develop solutions to improve efficiency and profitability. This course can provide you with the foundational knowledge and skills you need to succeed in this role, including customer value analysis, conjoint analysis, and competitive market analysis.

See salaries and explore the career path for Business Analyst

Financial Analyst

Financial Analysts study the financial performance of companies and make recommendations on investment decisions. They work with clients to develop investment strategies and pricing models. This course can provide you with the foundational knowledge and skills you need to succeed in this role, including cost analysis, customer value analysis, and competitive market analysis.

See salaries and explore the career path for Financial Analyst

Consultant

Consultants work with businesses to improve their operations and performance. They identify problems and opportunities, and develop solutions to improve efficiency and profitability. This course can provide you with the foundational knowledge and skills you need to succeed in this role, including customer value analysis, conjoint analysis, and competitive market analysis.

See salaries and explore the career path for Consultant

Economist

Economists study the production, distribution, and consumption of goods and services. They use economic models to analyze market trends and forecast economic growth. This course can provide you with the foundational knowledge and skills you need to succeed in this role, including cost analysis, customer value analysis, and competitive market analysis.

See salaries and explore the career path for Economist

Data Analyst

Data Analysts collect, clean, and analyze data to identify trends and patterns. They use data to help businesses make decisions about pricing, marketing, and product development. This course can provide you with the foundational knowledge and skills you need to succeed in this role, including cost analysis, customer value analysis, and competitive market analysis.

See salaries and explore the career path for Data Analyst

Market Researcher

Market Researchers study market conditions to understand how customers are likely to respond to different products and services. They help businesses make decisions about marketing, product development, and pricing strategy. This course can provide you with the foundational knowledge and skills you need to succeed in this role, including customer value analysis, conjoint analysis, and competitive market analysis.

See salaries and explore the career path for Market Researcher

Supply Chain Manager

Supply Chain Managers are responsible for managing the flow of goods and services from suppliers to customers. They work with cross-functional teams to ensure that products and services are delivered efficiently and profitably. This course can provide you with the foundational knowledge and skills you need to succeed in this role, including cost analysis, customer value analysis, and competitive market analysis.

See salaries and explore the career path for Supply Chain Manager

Operations Manager

Operations Managers are responsible for the day-to-day operations of a business. They work with cross-functional teams to ensure that products and services are produced and delivered efficiently and profitably. This course can provide you with the foundational knowledge and skills you need to succeed in this role, including cost analysis, customer value analysis, and competitive market analysis.

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Project Manager

Project Managers are responsible for planning, executing, and closing projects. They work with cross-functional teams to ensure that projects are completed on time, within budget, and to the required quality standards. This course can provide you with the foundational knowledge and skills you need to succeed in this role, including cost analysis, customer value analysis, and competitive market analysis.

See salaries and explore the career path for Project Manager

Software Engineer

Software Engineers design, develop, and test software applications. They work with cross-functional teams to ensure that software applications meet customer needs and are priced competitively. This course may provide you with some of the foundational knowledge and skills you need to succeed in this role, including cost analysis and customer value analysis.

See salaries and explore the career path for Software Engineer