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.
This course is part of the Marketing Mix Implementation Specialization
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Marketing Mix Implementation SpecializationIE Business SchoolAbout this Course
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Course 2 of 5 in the
Approx. 14 hours to complete
English
Subtitles: Arabic, French, Portuguese (European), Italian, Vietnamese, Korean, German, Russian, English, Spanish
Skills you will gain
PricingPsychologyPrice DiscriminationPricing Strategies
Flexible deadlines
Reset deadlines in accordance to your schedule.
Shareable Certificate
Earn a Certificate upon completion
100% online
Start instantly and learn at your own schedule.
Course 2 of 5 in the
Approx. 14 hours to complete
English
Subtitles: Arabic, French, Portuguese (European), Italian, Vietnamese, Korean, German, Russian, English, Spanish
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
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
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
3 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.
3 hours to complete
9 videos (Total 36 min), 5 readings, 1 quiz
Reviews
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.
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