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.
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About this Course
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Course 2 of 5 in the
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Approx. 14 hours to complete
English
Subtitles: English
Skills you will gain
PricingPsychologyPrice DiscriminationPricing Strategies
Learner Career Outcomes
17%
got a tangible career benefit from this course
100% online
Start instantly and learn at your own schedule.
Course 2 of 5 in the
Flexible deadlines
Reset deadlines in accordance to your schedule.
Approx. 14 hours to complete
English
Subtitles: English
Offered by
IE Business School
IE Business School is an internationally recognized business school where the leaders of tomorrow shape their ideas and learn to become global citizens. For over 40 years, IE Business School has promoted innovation and change in organizations, equipping managers with an entrepreneurial mindset that generates employment, wealth, and social well-being.
Syllabus - What you will learn from this course
3 hours to complete
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.
3 hours to complete
12 videos (Total 51 min), 9 readings, 4 quizzes
12 videos
Trailer46s
Introduction to the course2m
Importance of Pricing4m
Pricing Complexity3m
Pricing Approaches2m
Cost Based Pricing4m
Cost Based Pricing Printer Example4m
Competition Based Pricing3m
Customer Based Pricing5m
Price Elasticity6m
Optimal Price2m
Expert Interviews: Felix Krohn of Wolters Kluwer10m
9 readings
How to Price Your Products1m
The Price is Wrong5m
Traditional Approaches to Pricing9m
£1100 for a hamburger?10m
Methods to Price Your Product12m
Pricing Fashion with Science15m
Price Elasticity of Demand3m
Why the Highest Price isn’t the Best Price20m
Pricing New Products16m
4 practice exercises
Practice Quiz on the Importance of Pricing3m
Practice Quiz on Price Elasticity7m
Practice Quiz for Optimal Price4m
Module 1 Graded Assessment35m
5 hours to complete
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.
5 hours to complete
9 videos (Total 53 min), 7 readings, 2 quizzes
9 videos
Price Response Estimation3m
Market Data1m
Market Data Yogurt Example5m
Experiments6m
Expert Surveys3m
Customer Surveys7m
Customer Surveys Camera Example5m
Advanced (OPTIONAL): Conjoint Analysis18m
7 readings
Willingness to pay – definition and meaning10m
Link to the Pricing Simulation45m
Measuring Willingness-to-Pay50m
Price Testing7m
Experiments in Pricing10m
Best practices for every step of survey creation5m
A Review of Methods for Measuring Willingness-to-Pay50m
2 practice exercises
Practice Quiz on Price Experiments3m
Module 2 Graded Assessment30m
4 hours to complete
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.
4 hours to complete
11 videos (Total 75 min), 5 readings, 3 quizzes
11 videos
Forms of Price Discrimination3m
Expert Interviews: Alejandro Hermo of Burger King11m
Product Versioning - Complements5m
Product Versioning - Substitutes6m
Bundling12m
Mixed Bundling Telecommunications Example8m
Purchase Quantity9m
Buyer Identification2m
Purchase Location2m
Time of Purchase5m
5 readings
Investopedia: What is Price Discrimination15m
Price Differentiation30m
Pay-per-laugh: Customers charged exactly for what they "consume"10m
1000% Price Markup?8m
The Price You Pay Depends on Time and Day5m
2 practice exercises
Practice Quiz on Bundling6m
Module 3 Graded Assessment34m
2 hours to complete
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.
2 hours to complete
9 videos (Total 36 min), 5 readings, 1 quiz
9 videos
Pricing experiments: Price as a quality indicator2m
Price Anchoring5m
Pricing experiments: The Decoy Effect3m
Prospect Theory5m
Price Endings3m
The Pain of Paying7m
Brief of the course3m
Ready to continue on this journey?50s
5 readings
Psychological Pricing: 4 Strategies, Examples and Tactics10m
Quality Perceptions, Hitting the Spot4m
A Luxury Example of Anchoring5m
Price Endings' Field Experiments Results40m
Pain of Paying, out in the Field5m
1 practice exercise
Module 4 Graded Assessment40m
Reviews
4.6
TOP REVIEWS FROM PRICING STRATEGY
by OBOct 3, 2018
Very fine course with good videos and explanations of the basics of Pricing. The articles were relevant but many of them rather old and could do with an update. All in all a recommendable course!
by BTMar 19, 2017
Although they are harder concepts and more practices to remember, it was a very insightful course! I truly enjoyed the additional readings to elaborate on the lectures. Thank you very much, IE!
by AJMar 19, 2020
I had always been afraid of Pricing and any other subject that required some mathematical skills. But this course was so helpful in both educating me and boosting my self-confidence in Pricing.
by SRJun 11, 2016
Great course. All the concepts were clearly explained. They had provided plenty of case studies, articles, journals and books to read. The content delivery was great. I found it very useful.
About the Marketing Mix Implementation Specialization
In this Specialization we will delve into the marketing mix and the skill-set needed to implement successful marketing strategies. Join us and explore the four key concepts of the marketing mix model, also known as the 4Ps: Product (Brand and Product Management), Pricing, Place (Distribution Channel Strategy and Retail) and Promotion (Communication Strategies, PR and Advertising). This course primarily focuses on implementation so you can immediately apply the lessons learned to your work or to a business idea that you are thinking of taking to market. After completing the four courses, you will be able to take part in the Capstone Project where you will have the opportunity to put into practice what you have learned in this specialization by running a real product through the marketing mix.
Frequently Asked Questions
When will I have access to the lectures and assignments?
Once you enroll for a Certificate, you’ll have access to all videos, quizzes, and programming assignments (if applicable). Peer review assignments can only be submitted and reviewed once your session has begun. If you choose to explore the course without purchasing, you may not be able to access certain assignments.
What will I get if I subscribe to this Specialization?
When you enroll in the course, you get access to all of the courses in the Specialization, and you earn a certificate when you complete the work. Your electronic Certificate will be added to your Accomplishments page - from there, you can print your Certificate or add it to your LinkedIn profile. If you only want to read and view the course content, you can audit the course for free.
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Is financial aid available?
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