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Martin Boehm
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.
Read more
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.
Read more
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.
Along this course, you will learn pricing strategy key concepts such as pricing psychology, price discrimination, willingness to pay of customers, optimal price and price elasticity. This course has an additional focus on pricing dynamics and the reaction to and by competitors, taking a highly pragmatic approach and one that is directly applicable to your day-to-day professional life.
After this course, you will be able to contribute to the process of formulating pricing strategies for your own products and services, or those of your firm.
Martin Boehm - IE Professor and Dean of the Business School with over 10 years experience - will guide you through four modules. We begin with the importance of pricing and how it ultimately can affect the bottom line. Then, we move on to methods to help you decide what is the optimal price for your product; and then price discrimination - should all your products follow the same pricing strategy or should you differentiate depending on the customer segment? Finally, we look at pricing psychology and how you can influence customers in order to drive the highest possible price for your product.
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What's inside
Syllabus
Demand Curve and Pricing
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.
Read more
Syllabus
Demand Curve and Pricing
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.
Read more
Determining Willingness to Pay
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.
Playing the Pricing Piano or Price Discrimination
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.
Pricing Psychology
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.
Good to know
Good to know
Know what's good ,
what to watch for , and
possible dealbreakers
Provides analytical tools and methods for assessing and developing pricing strategies
Emphasizes understanding willingness to pay of customers to optimize pricing
Examines pricing dynamics and competitor reactions
Guided by an experienced professor, Martin Boehm, who provides expert insights
Requires some background in basic economics and marketing principles
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Reviews summary
Highly rated pricing course
Learners say this course is largely positive with engaging assignments and an excellent instructor who provides clear examples to complex pricing strategies in a course that will help you to implement pricing strategies in real-world contexts.
According to students, key qualities of this course include:
- A variety of learning materials, including videos, articles, and case studies.
- Real-world examples and practical applications.
- A focus on customer behavior and pricing strategies.
- An emphasis on the importance of pricing as a tool for optimizing revenue.
This course provides real-life examples and practical exercises
"The course give the idea how to prize optimally with the given reseach data for different prices. "
"Great videos, the professor makes is easy to understand and gives clear examples!"
"Have covered the entire concept through real life examples and exercises to practice. The contents are very friendly. Thank you."
This course covers a wide range of topics
"Effective course to learn and apply pricing techniques by solving numerical based problems and data centric approach"
"I have been working in sales for the last 10 years, though I have learned many tricks of the trade while working, this program gave me more insights into the pricing strategy"
"Being a young manager with no formal marketing education, the course was an eye opener in regards to the importance of pricing and the pivotal role it plays in our day-to-day life. The course encapsulates and covers all the relevant (and more) through diversified articles, examples and thorough discussions."
The instructor is excellent
"Me gustaron las clases, súper dinámicas y con los mejores ejemplos para entender los conceptos. El profesor es muy bueno explicando pues domina los temas."
"Great teacher, very interesting content, nice examples, good tasks. Some tasks were a bit complicated to solve, but the most of them were ok. I am satisfied with this course"
"I really enjoyed this course. Many thanks to Prof. Boehm for providing interesting insights into different pricing topics."
This course is fast-paced with some challenging assignments
"Great course! However, topics are spread too widely. Would be better to focus on bigger videos instead of small bite-sized videos."
"Very good. But exams are looked little difficult to us who are not come from same field in work. I start to learn and none experience on it. But I like the most."
"The course is really nice for anyone who is new to Pricing strategy. Although the videos are pretty elementary but the reading material provided is quite enriching. I'd recommend this to anyone who wants to understand Pricing strategy from scratch."
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 with these
activities:
Review Key Pricing Concepts
Show steps
Refresh your knowledge of core pricing concepts to ensure a solid foundation before starting the course.
Show steps
-
Review course materials or online resources covering pricing basics.
-
Take a practice quiz or complete a knowledge assessment to test your understanding.
Read 'Pricing Strategy' by Kotler and Keller
Show steps
Gain foundational knowledge in pricing principles and strategies from a reputable industry publication.
View
Marketing Management, Global Edition
on Amazon
Show steps
-
Read the book thoroughly, taking notes on key concepts and examples.
-
Summarize the main takeaways and implications for your own pricing strategies.
Solve Pricing Calculations
Show steps
Sharpen your problem-solving skills by applying pricing formulas and calculations in practical scenarios.
Browse courses on
Cost Analysis
Show steps
-
Complete a series of practice problems involving cost-plus pricing, value-based pricing, and competitive pricing.
-
Test your understanding by applying these formulas to real-world pricing situations.
Four other activities
Expand to see all activities and additional details
Show all seven activities
Analyze Pricing Strategies Case Studies
Show steps
Develop your analytical skills by examining real-world examples of pricing strategies and their impact on business outcomes.
Browse courses on
Pricing Strategies
Show steps
-
Select 3-5 case studies of companies with different pricing strategies.
-
Read and analyze the case studies, paying attention to the pricing decisions made and their rationale.
-
Identify the key factors that influenced the pricing decisions.
-
Evaluate the effectiveness of the pricing strategies used.
-
Write a report summarizing your findings and recommendations.
Discuss Pricing Strategies in a Group
Show steps
Engage with fellow learners to share insights, challenge ideas, and enhance your understanding of pricing strategies.
Browse courses on
Pricing Strategies
Show steps
-
Join or form a study group with other course participants.
-
Choose a pricing case study or concept to discuss.
-
Prepare by researching the topic and formulating your own opinions.
-
Participate actively in the group discussion, sharing your perspectives and listening to others.
-
Summarize the key learnings and insights gained from the discussion.
Developing a Pricing Strategy for a New Product
Show steps
Apply your knowledge to a practical project by developing a comprehensive pricing strategy for a new product.
Browse courses on
Pricing Strategy
Show steps
-
Define the target market and conduct market research to understand their pricing expectations.
-
Analyze the competitive landscape and identify pricing benchmarks.
-
Determine the product's cost structure and profit margins.
-
Develop a pricing model and justify the pricing strategy.
-
Create a pricing plan that includes pricing tiers, discounts, and promotions.
Explore Dynamic Pricing Strategies
Show steps
Enhance your understanding of advanced pricing techniques by exploring dynamic pricing models and their applications.
Show steps
-
Follow online tutorials on dynamic pricing concepts and algorithms.
-
Experiment with dynamic pricing simulations to observe how price changes affect demand.
-
Research and analyze case studies of companies successfully implementing dynamic pricing.
Review Key Pricing Concepts
Show steps
Refresh your knowledge of core pricing concepts to ensure a solid foundation before starting the course.
Show steps
Show steps
Show steps
- Review course materials or online resources covering pricing basics.
- Take a practice quiz or complete a knowledge assessment to test your understanding.
Read 'Pricing Strategy' by Kotler and Keller
Show steps
Gain foundational knowledge in pricing principles and strategies from a reputable industry publication.
View
Marketing Management, Global Edition
on Amazon
Show steps
Show steps
Show steps
- Read the book thoroughly, taking notes on key concepts and examples.
- Summarize the main takeaways and implications for your own pricing strategies.
Solve Pricing Calculations
Show steps
Sharpen your problem-solving skills by applying pricing formulas and calculations in practical scenarios.
Browse courses on
Cost Analysis
Show steps
Show steps
Show steps
- Complete a series of practice problems involving cost-plus pricing, value-based pricing, and competitive pricing.
- Test your understanding by applying these formulas to real-world pricing situations.
Four other activities
Expand to see all activities and additional details
Show all seven activities
Analyze Pricing Strategies Case Studies
Show steps
Develop your analytical skills by examining real-world examples of pricing strategies and their impact on business outcomes.
Browse courses on
Pricing Strategies
Show steps
Show steps
Show steps
- Select 3-5 case studies of companies with different pricing strategies.
- Read and analyze the case studies, paying attention to the pricing decisions made and their rationale.
- Identify the key factors that influenced the pricing decisions.
- Evaluate the effectiveness of the pricing strategies used.
- Write a report summarizing your findings and recommendations.
Discuss Pricing Strategies in a Group
Show steps
Engage with fellow learners to share insights, challenge ideas, and enhance your understanding of pricing strategies.
Browse courses on
Pricing Strategies
Show steps
Show steps
Show steps
- Join or form a study group with other course participants.
- Choose a pricing case study or concept to discuss.
- Prepare by researching the topic and formulating your own opinions.
- Participate actively in the group discussion, sharing your perspectives and listening to others.
- Summarize the key learnings and insights gained from the discussion.
Developing a Pricing Strategy for a New Product
Show steps
Apply your knowledge to a practical project by developing a comprehensive pricing strategy for a new product.
Browse courses on
Pricing Strategy
Show steps
Show steps
Show steps
- Define the target market and conduct market research to understand their pricing expectations.
- Analyze the competitive landscape and identify pricing benchmarks.
- Determine the product's cost structure and profit margins.
- Develop a pricing model and justify the pricing strategy.
- Create a pricing plan that includes pricing tiers, discounts, and promotions.
Explore Dynamic Pricing Strategies
Show steps
Enhance your understanding of advanced pricing techniques by exploring dynamic pricing models and their applications.
Show steps
Show steps
Show steps
- Follow online tutorials on dynamic pricing concepts and algorithms.
- Experiment with dynamic pricing simulations to observe how price changes affect demand.
- Research and analyze case studies of companies successfully implementing dynamic pricing.
Career center
Learners who complete Pricing Strategy will develop knowledge and skills
that may be useful to these careers:
Pricing Strategist
Pricing Strategist
Pricing Strategists develop and implement pricing strategies for companies. They may work with other departments, such as marketing and sales, to improve pricing performance. This role requires an MBA and a strong understanding of pricing and marketing. It is also helpful to have experience with forecasting and time series analysis. This course in Pricing Strategy can help you build a foundation in the theoretical concepts behind pricing. It will also help you develop the analytical skills that you need to make pricing decisions for the company that you work for.
Pricing Manager
Pricing Manager
Pricing Managers are responsible for setting the prices of products and services. They may work with other departments, such as marketing and sales, to determine the best pricing strategy for the company. This role requires an MBA, an understanding of managerial accounting, and the ability to understand and use market research. It is also helpful to have strong negotiation skills. This course in Pricing Strategy can help you build a foundation in the theoretical concepts behind pricing. It will also help you develop the analytical skills that you need to make pricing decisions for your company.
Pricing Consultant
Pricing Consultant
Pricing Consultants help companies develop and implement pricing strategies. They may work with other departments, such as marketing and sales, to improve pricing performance. This role requires an MBA and a strong understanding of pricing and marketing. It is also helpful to have experience with forecasting and time series analysis. This course in Pricing Strategy can help you build a foundation in the theoretical concepts behind pricing. It will also help you develop the analytical skills that you need to make pricing decisions for the companies that you consult for.
Revenue Manager
Revenue Manager
Revenue Managers are responsible for maximizing revenue for a company. They may do this by setting prices, managing inventory, and forecasting demand. This role requires an MBA and a strong understanding of managerial accounting. It is also helpful to have experience with forecasting and time series analysis. This course in Pricing Strategy can help you build a foundation in the theoretical concepts behind pricing. It will also help you develop the analytical skills that you need to make pricing decisions for your company.
Product Manager
Product Manager
Product Managers are responsible for the development and marketing of products and services. They may work with other departments, such as engineering and marketing, to bring a product to market. This role requires an MBA and a strong understanding of marketing and product development. It is also helpful to have experience with pricing and forecasting. This course in Pricing Strategy can help you build a foundation in the theoretical concepts behind pricing. It will also help you develop the analytical skills that you need to make pricing decisions for the products that you manage.
Pricing Analyst
Pricing Analyst
Pricing Analysts typically determine the best pricing strategy for products and services. They may do this following a cost analysis of goods sold, market research, and analysis of competition. They may also use econometric models to forecast demand. This role requires an understanding of managerial accounting and some knowledge of basic econometrics. Because they are frequently called upon to project revenue and profits, some coursework in forecasting and time series analysis is also helpful. This course in Pricing Strategy can help you build a foundation in the theoretical concepts behind pricing. It will also help you develop analytical skills that you can use to contribute to pricing decisions for your company.
Investment Banker
Investment Banker
Investment Bankers help companies raise capital and make acquisitions. They may work with other departments, such as accounting and legal, to develop financial plans and strategies. This role requires an MBA and a strong understanding of accounting and finance. It is also helpful to have experience with forecasting and time series analysis. This course in Pricing Strategy can help you build a foundation in the theoretical concepts behind pricing. It will also help you develop the analytical skills that you need to make pricing decisions for the companies that you help to raise capital.
Marketing Manager
Marketing Manager
Marketing Managers are responsible for developing and executing marketing campaigns. They may work with other departments, such as sales and product development, to bring a product to market. This role requires an MBA and a strong understanding of marketing and advertising. It is also helpful to have experience with pricing and forecasting. This course in Pricing Strategy can help you build a foundation in the theoretical concepts behind pricing. It will also help you develop the analytical skills that you need to make pricing decisions for the products that you market.
Sales Manager
Sales Manager
Sales Managers are responsible for leading and motivating a sales team. They may work with other departments, such as marketing and product development, to bring a product to market. This role requires an MBA and a strong understanding of sales and marketing. It is also helpful to have experience with pricing and forecasting. This course in Pricing Strategy can help you build a foundation in the theoretical concepts behind pricing. It will also help you develop the analytical skills that you need to make pricing decisions for the products that you sell.
Financial Analyst
Financial Analyst
Financial Analysts evaluate the financial performance of companies and make recommendations on how to improve it. They may work with other departments, such as accounting and marketing, to develop financial plans and strategies. This role requires an MBA and a strong understanding of accounting and finance. It is also helpful to have experience with forecasting and time series analysis. This course in Pricing Strategy can help you build a foundation in the theoretical concepts behind pricing. It will also help you develop the analytical skills that you need to make pricing decisions for the companies that you analyze.
Management Consultant
Management Consultant
Management Consultants help companies improve their performance. They may work with other departments, such as accounting and marketing, to develop business plans and strategies. This role requires an MBA and a strong understanding of business and management. It is also helpful to have experience with forecasting and time series analysis. This course in Pricing Strategy can help you build a foundation in the theoretical concepts behind pricing. It will also help you develop the analytical skills that you need to make pricing decisions for the companies that you consult for.
Data Scientist
Data Scientist
Data Scientists use data to solve business problems. They may work with other departments, such as marketing and sales, to develop data-driven solutions. This role requires an advanced degree in a field such as statistics or computer science. It is also helpful to have experience with programming and data analysis. This course in Pricing Strategy may be useful for you if you want to specialize in pricing analytics. It will help you develop the analytical skills that you need to make pricing decisions based on data.
Econometrician
Econometrician
Econometricians use statistical methods to analyze economic data. They may work with other economists to develop economic models and forecasts. This role requires an advanced degree in economics. It is also helpful to have experience with programming and data analysis. This course in Pricing Strategy may be useful for you if you want to specialize in pricing economics. It will help you develop the analytical skills that you need to make pricing decisions based on economic models.
Market Researcher
Market Researcher
Market Researchers study the market to understand consumer behavior. They may work with other departments, such as marketing and sales, to develop marketing campaigns and strategies. This role requires an advanced degree in a field such as marketing or sociology. It is also helpful to have experience with data analysis and statistics. This course in Pricing Strategy may be useful for you if you want to specialize in pricing research. It will help you develop the analytical skills that you need to make pricing decisions based on market research.
Operations Research Analyst
Operations Research Analyst
Operations Research Analysts use mathematical models to solve business problems. They may work with other departments, such as manufacturing and logistics, to improve efficiency and productivity. This role requires an advanced degree in a field such as operations research or industrial engineering. It is also helpful to have experience with programming and data analysis. This course in Pricing Strategy may be useful for you if you want to specialize in pricing optimization. It will help you develop the analytical skills that you need to make pricing decisions based on mathematical models.
For more career information including salaries, visit:
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Reading list
We've selected 12 books
that we think will supplement your
learning. Use these to
develop background knowledge, enrich your coursework, and gain a
deeper understanding of the topics covered in
Pricing Strategy.
Comprehensive guide to pricing strategy, covering all the essential concepts and techniques. It is written in a clear and concise style, and it is packed with real-world examples.
This classic text on pricing strategy must-read for anyone who wants to understand the field. It provides a clear and concise overview of the key concepts, and it is full of practical advice and examples.
Save
This comprehensive textbook provides a thorough overview of pricing strategy, covering all the key concepts and techniques. It valuable resource for students and practitioners alike, and it would be a great addition to the reading list for this course.
Save
Provides a step-by-step guide to implementing value-based pricing. It valuable resource for businesses of all sizes, and it would be a useful addition to the reading list for this course.
Practical guide to pricing for small businesses. It covers all the basics of pricing, from setting prices to negotiating with customers.
Save
Classic work on pricing strategy. It provides a comprehensive overview of the field, and it is packed with practical advice.
Practical guide to pricing for profit. It covers all the essential concepts and techniques, and it is packed with real-world examples.
Provides a comprehensive overview of pricing and revenue optimization. It covers all the essential concepts and techniques, and it is packed with real-world examples.
Collection of essays on pricing strategy. It provides a unique perspective on the field, and it is packed with insights.
Save
Explores the irrational side of human behavior. It provides insights into how people make decisions, and how you can use this knowledge to set prices that are more likely to be accepted.
Explores the behavioral aspects of pricing. It provides a framework for understanding how consumers respond to prices, and how you can use this knowledge to set prices that are more likely to be accepted.
Practical guide to pricing for engineers. It covers all the essential concepts and techniques, and it is packed with real-world examples.
For more information about how these books relate to this course, visit:
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Effort
4 weeks course, with 3 to 4 work hours weekly.
Level
Introductory
Via
Coursera
Institution
IE Business School
Instructor
Martin Boehm
Language
English
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This course belongs to a
collection
called
Marketing Mix Implementation. It's comprised of five courses:
Good to know
Provides analytical tools and methods for assessing and developing pricing strategies
Emphasizes understanding willingness to pay of customers to optimize pricing
Examines pricing dynamics and competitor reactions
Guided by an experienced professor, Martin Boehm, who provides expert insights
Requires some background in basic economics and marketing principles
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