Market and Competition in Pricing Strategy from Coursera

What's inside

Syllabus

Understanding the Playing Field

Welcome! Competitive pricing is all about setting prices based on what companies with similar products and services charge. To use this approach effectively, you have to understand the playing field. In particular, you need to know general legal parameters that guide competition in the market place. In this module, you'll get basic background knowledge so that you can use market knowledge in your pricing strategy and still stay on the right side of antitrust law. Then Thomas will join you to introduce the competitive pricing framework , which you can use to assess pricing options, anticipate your competitors' pricing strategy, and determine whether to price to competition or to elasticity.

Predicting Competitive Reactions

Now that you know more about the playing field, let's take a look at how to predict competitive reactions. Thomas will show you value mapping, a tool that yields valuable insights into the value-price relationship relative to your competitors, and how to apply it in a real-world example. Then you'll dive into game theory, a field with many applications. Here, you'll use it anticipate and respond to price competition so that you can cooperate and compete without colluding.

Disrupting Markets and Engaging in "Coopetition"

Disrupting competition and engaging in "coopetition" can benefit all players in the market--but not all the time. Using knowledge from game theory and pricing models can help you understand when this strategy can be beneficial. Thomas will introduce two competitor pricing models--price moves and price wars--and show you how to use these models to predict and respond to competitors. Then Ron will show you various strategies to optimize prices through the four phases of the product life cycle, from disruptive to declining products. Then you will use the SmartOps case to apply your knowledge of "coopetition" to analyze a real-world pricing decision.

Implementing Price Discrimination in Competitive Markets

Price discrimination -- selling the same product to different market segments at different prices -- allows companies to optimize profits, even in competitive markets. It begins with customer segmentation, and Ron will show you practical segmentation strategies for both B2B and B2C contexts. Then you'll learn how to apply the Weber-Fechner Law, which sounds complicated, but is actually quite intuitive and useful when pricing quality-differentiated product lines. Finally, you'll learn the basics of bundle pricing and how to create economically sound bundles.

Good to know

Know what's good

, what to watch for

, and possible dealbreakers

Examines pricing strategies for businesses and professionals

Taught by instructors from top-ranked Darden School of Business and Boston Consulting Group experts

Develops pricing and strategy skills for optimizing revenue through competitive analysis

Covers market analysis, pricing strategies, game theory, and case studies for practical application

Appropriate for business leaders, pricing professionals, and students in related fields

Requires understanding of basic market and legal principles

Reviews summary

Well-received pricing strategy course

Students largely agree that this course on Market and Competition in Pricing Strategy is excellent. Reviews indicate it's well-structured and informative, receiving high marks for its practical and theoretical content.

Collaboration with BCG is excellent

"The collaboration with BCG has resulted in an excellent offerings in terms of knowledge, practical and theoretical as offered."

Well-organized and structured

"The course is well structured and provide lot of information to grasp."

Excellent, practical content

"The course offers a deep insights in terms of market value, market share and market proportion a product holds from pricing angle and its impact on economy & budget all together."

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 Market and Competition in Pricing Strategy with these activities:

Review competitive pricing basics

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Review competitive pricing basics to establish a strong foundation for the course.

Browse courses on Competitive Pricing

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Read the course syllabus to get an overview of the topics covered.
Go through your notes from previous courses on pricing strategy.
Watch videos or read articles on competitive pricing.

Read 'Competitive Strategy' by Michael Porter

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Gain valuable insights into competitive strategy and its impact on pricing.

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

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Read the book's introduction to understand its main concepts.
Identify and summarize the key takeaways from each chapter.
Reflect on how these concepts apply to your understanding of competitive pricing.

Discuss pricing strategies with classmates

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Exchange ideas and insights with peers to enhance your understanding.

Browse courses on Pricing Strategy

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Form a study group with classmates.
Choose a specific pricing strategy or topic to discuss.
Share your perspectives and listen to others' insights.
Brainstorm alternative approaches and consider different perspectives.

Four other activities

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Analyze competitor pricing strategies

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Develop analytical skills for predicting and responding to competitor pricing moves.

Browse courses on Value Mapping

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Choose a specific market or industry to focus on.
Identify your main competitors and gather data on their pricing.
Use value mapping to analyze the relationship between price and value for your competitors.
Apply game theory principles to predict potential responses to price changes.

Create a pricing strategy for a hypothetical product

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Develop a comprehensive pricing strategy using course concepts.

Browse courses on Pricing Models

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Define a hypothetical product and its target market.
Research the competitive landscape and identify potential pricing strategies.
Use pricing models to determine an appropriate price range and strategy.
Consider price discrimination strategies to maximize revenue.
Document your strategy and be prepared to present it to the class.

Attend a workshop on competitive pricing

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Gain practical insights and network with professionals in the field.

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Research and identify workshops on competitive pricing.
Register for a workshop that aligns with your interests.
Attend the workshop and actively participate in discussions.
Connect with speakers and other attendees to expand your knowledge.

Develop a pricing recommendation for a real-world business

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Apply course concepts to a real-world scenario and demonstrate your problem-solving abilities.

Browse courses on Pricing Strategy

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Identify a business or organization to analyze.
Conduct a comprehensive market analysis, including competitor research.
Develop a pricing strategy and provide detailed recommendations.
Create a presentation to showcase your findings and analysis.

Career center

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

Pricing Analyst

Pricing Analysts analyze data to develop and implement pricing strategies. The course Market and Competition in Pricing Strategy can be a great way to prepare for this role by providing you with tools to analyze the market, predict competitive reactions, and implement competitive pricing strategies. The course also covers legal pitfalls to avoid when setting prices, which is essential knowledge for any Pricing Analyst.

See salaries and explore the career path for Pricing Analyst

Pricing Manager

Pricing Managers determine the price of a company's products and services and monitor the prices set by competitors. The course Market and Competition in Pricing Strategy can be a great way to prepare for this role by providing you with tools to analyze the market, predict competitive reactions, and implement competitive pricing strategies. The course also covers legal pitfalls to avoid when setting prices, which is essential knowledge for any Pricing Manager.

See salaries and explore the career path for Pricing Manager

Pricing Consultant

Pricing Consultants advise companies on pricing strategy. The course Market and Competition in Pricing Strategy can be a great way to prepare for this role by providing you with tools to analyze the market, predict competitive reactions, and implement competitive pricing strategies. The course also covers legal pitfalls to avoid when setting prices, which is essential knowledge for any Pricing Consultant.

See salaries and explore the career path for Pricing Consultant

Data Analyst

Data Analysts use data to identify and solve business problems. The course Market and Competition in Pricing Strategy can be helpful for Data Analysts by providing them with a framework for understanding the competitive landscape and setting prices that will maximize revenue. The course also covers how to predict competitive reactions and respond to price competition.

See salaries and explore the career path for Data Analyst

Financial Analyst

Financial Analysts evaluate the financial performance of companies and make recommendations on investments. The course Market and Competition in Pricing Strategy can be helpful for Financial Analysts by providing them with a framework for understanding the competitive landscape and setting prices that will maximize revenue. The course also covers how to predict competitive reactions and respond to price competition.

See salaries and explore the career path for Financial Analyst

Product Manager

Product Managers are responsible for the development, launch, and marketing of new products and services. The course Market and Competition in Pricing Strategy can be helpful for Product Managers by providing them with a framework for understanding the competitive landscape and setting prices that will maximize revenue. The course also covers how to predict competitive reactions and respond to price competition.

See salaries and explore the career path for Product Manager

Consultant

Consultants provide advice and guidance to businesses on a variety of topics, including pricing strategy. The course Market and Competition in Pricing Strategy can be helpful for Consultants by providing them with a framework for understanding the competitive landscape and setting prices that will maximize revenue. The course also covers how to predict competitive reactions and respond to price competition.

See salaries and explore the career path for Consultant

Marketing Manager

Marketing Managers develop and execute marketing campaigns to promote a company's products and services. The course Market and Competition in Pricing Strategy can be helpful for Marketing Managers by providing them with a framework for understanding the competitive landscape and setting prices that will maximize revenue. The course also covers how to predict competitive reactions and respond to price competition.

See salaries and explore the career path for Marketing Manager

Investment Banker

Investment Bankers advise companies on mergers and acquisitions, as well as other financial transactions. The course Market and Competition in Pricing Strategy can be helpful for Investment Bankers by providing them with a framework for understanding the competitive landscape and setting prices that will maximize revenue. The course also covers how to predict competitive reactions and respond to price competition.

See salaries and explore the career path for Investment Banker

Economist

Economists study the production, distribution, and consumption of goods and services. The course Market and Competition in Pricing Strategy can be helpful for Economists by providing them with a framework for understanding the competitive landscape and setting prices that will maximize revenue. The course also covers how to predict competitive reactions and respond to price competition.

See salaries and explore the career path for Economist

Market Researcher

Market Researchers conduct research to understand consumer behavior and trends. The course Market and Competition in Pricing Strategy can be helpful for Market Researchers by providing them with a framework for understanding the competitive landscape and setting prices that will maximize revenue. The course also covers how to predict competitive reactions and respond to price competition.

See salaries and explore the career path for Market Researcher

Advertising Manager

Advertising Managers develop and execute advertising campaigns to promote a company's products and services. The course Market and Competition in Pricing Strategy can be helpful for Advertising Managers by providing them with a framework for understanding the competitive landscape and setting prices that will maximize revenue. The course also covers how to predict competitive reactions and respond to price competition.

See salaries and explore the career path for Advertising Manager

Quantitative Analyst

Quantitative Analysts use mathematical and statistical models to analyze financial data. The course Market and Competition in Pricing Strategy can be helpful for Quantitative Analysts by providing them with a framework for understanding the competitive landscape and setting prices that will maximize revenue. The course also covers how to predict competitive reactions and respond to price competition.

See salaries and explore the career path for Quantitative Analyst

Sales Manager

Sales Managers are responsible for leading and motivating sales teams to achieve sales goals. The course Market and Competition in Pricing Strategy can be helpful for Sales Managers by providing them with a framework for understanding the competitive landscape and setting prices that will maximize revenue. The course also covers how to predict competitive reactions and respond to price competition.

See salaries and explore the career path for Sales Manager

Business Analyst

Business Analysts use data to identify and solve business problems. The course Market and Competition in Pricing Strategy can be helpful for Business Analysts by providing them with a framework for understanding the competitive landscape and setting prices that will maximize revenue. The course also covers how to predict competitive reactions and respond to price competition.

See salaries and explore the career path for Business Analyst