Welcome back to our course on Protecting Business Innovations via Strategy.

In this module, we're going to be talking about changing the rules.

What do we mean by that? We mean thinking differently about your business.

Thinking differently about the globe, about opportunities.

We've talked about e-commerce which is kind of

a way of changing rules and new opportunities.

But we're going to talk about a couple of issues,

one of which is pricing.

Now pricing is just one element of

a business strategy but it's a powerful and important element.

It can be very very profitable if you do it right.

In the right context,

in the right situations,

pricing differently or differential pricing can be the key to business success.

We'll talk about for example, a company,

Capital One that use big data and analytics as tools to enable them to price in

a way that created a new market that transformed a business.

That was disruptive as innovation and devastated competitors and financial services,

created a new opportunity using technology in

finance to create a huge success while hurting your competitors.

We'll talk about other examples of using pricing as part of a strategy,

like the most profitable song in the world.

How do you create the most profitable song in the world from

something that's relatively commonplace using pricing as a strategy?

We'll talk about pricing of drugs.

And how that's an example of creative pricing,

segmented pricing, differential pricing,

and creative use of charities or other things to enable you to

maximize profitability in some ways that are surprising.

We'll also talk about changing the rules in competing in other aspects of marketing

such as Coca-Cola vs Pepsi and how

these two have been rivals and have competed in the marketplace.

Sometimes on a different basis and a different way of

thinking about competing not just traditional,

my brand vs your brand,

and in some ways Coke is one,

in some ways, Pepsi has won.

They've pursued different strategies with different outcomes.

But both in different ways have been winners in their marketplace,

so an example of different strategies.

We'll also look at branding and alliances as part of that strategy.

So that gives you an overview of where we're going to go in this module.

A lot of it has to do with pricing.

Some of it has to do with marketing,

like the Coke and Pepsi example less pricing there,

but there's some elements of it.

So, interesting changing of the rules, rethinking,

and strategy largely heavily influenced by pricing

as well as marketing and market segmentation. Thank you.

4.1 Changing the Rules Overview

Protecting Business Innovations via Strategy

Meet the Instructors