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Learner Reviews & Feedback for Cost and Economics in Pricing Strategy by University of Virginia

4.8
stars
531 ratings
121 reviews

About the Course

How much should you charge for your products and services? Traditionally, businesses have answered this question based on the cost to produce or provide their goods and services. This course shows you the economic factors behind pricing based on cost and the pros and cons of a cost-based pricing approach. Developed at the Darden School of Business at the University of Virginia, and led by top-ranked Darden faculty and Boston Consulting Group global pricing experts, the course provides the practical and research-based models and methods you need to set prices that maximize your profits. By the end of this course, you’ll be able to: --Apply knowledge of basic economics to make better pricing decisions --Recognize opportunities for price discrimination—selling the same product at different prices to different buyers—and recommend strategies to maximize sales and profits --Calculate three types of price elasticities to determine the impact of price on demand --Analyze and apply different pricing models -Cost-plus pricing -Marginal cost-plus pricing -Peak-load pricing -Index-based pricing --Evaluate the impact of channel intermediaries and customer lifetime value on pricing...

Top reviews

MP
May 7, 2018

Concepts in this course are challenging but the class is setup for students to succeed. I really enjoyed this course and would recommend it to anyone looking to learn more about pricing strategy.

AG
Apr 5, 2018

Even if you are familiar with the basics of microeconomics, and cost structures, this course combines it all together to provide a new perspective of using these models and concepts in pricing.

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1 - 25 of 119 Reviews for Cost and Economics in Pricing Strategy

By Fabricio R

May 13, 2019

Excellent course. In my view, the academic rigor of the week exercises needs to be improved even for a beginner level.

By Aditya G

May 8, 2020

I really liked the way course has been designed. Though I had microeconomics during my MBA, I am able to learn lot of new concepts in course. Some of the market phenomenon which I would not have been able to connect with pricing principles, now I can connect them after completing this course. Thanks to all instructors, Thanks University of Virginia and BCG!!

By Ileana C

Nov 25, 2019

Amazing! price has been most of the time an uncertainty . This course gives you the learning you need for allocating pricing strategies to the right business scenario

By Sharon M

Mar 11, 2018

A good course but there were places where I felt things weren't clearly explained. Also, the quiz questions were sometimes somewhat ambiguous.

By Souhad A Z

Aug 2, 2019

I liked the course, it was very useful though I believe some part should have been explained more. Overall, it was a very good one.

By Anurag P

Nov 19, 2018

Introductory level, but a fun course !! Not very hands-on but still will add to your knowledge.

Best Wishes.

By Anuja

Jul 13, 2020

While the beginning of the course was really interesting, the overall quality dropped halfway through. The sessions didn't look very professional. It first touched base on some very basic topics and then randomly went onto very technical information. Very disappointed.

By Dan

Jun 7, 2020

The case is interesting and beneficial in terms of helping to grasp the material, however, it would've been helpful to have something similar during the course with the answers and methodology in solving it.

By Dominique V

Aug 17, 2018

I loved the course, but if you want an overview of Pricing Strategy at least I missed it in the course! This course focuses on how to do the maths of price elasticity which is good and interesting too!

By Luis F

Feb 5, 2018

Excellent content but no communication at all with the staff; all questions posted in the forums remained unanswered.

By Stephanos T

May 3, 2020

Great course in terms of context and delivery with very knowledgeable staff. Overall, the videos are short and to the point and the fact that you often work with or are exposed to real-world case-studies is very valuable. The only negative for me has been the final assessment. I would be more comfortable with a more in-depth case study with more data to work with though I recognise this would also not be very practical. In its entirety, the course goes into depth without exhausting students. Quizzes are also challenging enough but not time-consuming to complete once you have revised the material for each question. I would also prefer links to more in-depth material for those who want to work beyond the confines of the curriculum (i.e. more info on how we derive to a demand function despite the topic being quite advanced). Highly recommended course if you intent to take the Pricing Strategy specialisation.

By Calypso R

Jul 18, 2019

Clear course and teachers, challenging quizzes. Some interesting and advanced concepts (for instance on retail, bids). You need some mathematical knowledge to pass (derivatives, algebra, statistics...)

If you already have a business / marketing education, half of the concepts and methods won't be new to you.

I would have like to have a bit more explanations for the final peer-graded exam. Also it can take some time (1-2 weeks) for 3 other students to grade your final assessment if not enough people follow the course at the moment.

By Kristina P

Jul 14, 2019

I really loved the structure of this course. Lectures are very clear, additional questions help you memorize the material and focus on the most important things. This is the first course that provides lecture resources that are very useful to keep in mind the material you have learned. This course material is focused on the practical side, making it even better. Thanks for the knowledge, I will definitely use them in practice!

By Ashwini A

May 12, 2020

Excellent course that gives insights into pricing strategies. The course was a combined package of theory and application in the form of case studies. Taking this course had definitely added value to my knowledge base. I thank the University of Virginia and BCG group for their efforts in modeling this course. Thank you Coursera of this opportunity!

By Amitesh K

Sep 28, 2017

Great refresher course on pricing and economics. Focuses on different pricing strategies (elasticity, pricing function, auctions, cost plus pricing, peak load pricing, index based pricing, marginal cost pricing, target cost plus pricing). Ron Wilcox and the BCG team does a great job in delivering lecture and keeping you engaged in the course.

By Felix L

May 8, 2020

Really nice course with good mix of descriptive concepts, their calculation and execution in practice and case studies of companies. Control quizzes are really helpful to check own understanding. But please consider additional workload for final exam and assessment of 3 others. This is like an additional course week and should be mentioned.

By Ajit P

Jul 10, 2017

I highly recommend this course. Thank you to professors for sharing the course material in such a sincere way. Course is very well designed. I did not have background in pricing prior to this course. This course definitely made me interested in learning more on pricing strategy optimization.

By Sameer K

Jul 14, 2020

This is one of the best courses that i have done on Coursera. I hope my economics teacher was like Ron Wilcox. I definitely hope to complete the specialisation. BCG and Darden definitely stand up to their name and justify the place they hold in the student community.

By Vaibhav

Jul 19, 2020

An amazing course to learn more about price and the different methods of pricing.Moreover I also learnt how to apply what i learnt in theory in the practical world.Thank You Coursera for providing me the opportunity to learn so much from a course like this.

By Ma. T A G

Jun 27, 2020

Excellent course- as a marketing professional I appreciated being able to understand in better detail (conceptually and mathematically) the concepts that I've been applying broadly in pricing work in the real world. Adequately challenging and engaging!

By Maria A B

Apr 7, 2019

I'll definitely recommend this course as it gives you the basic structures to learn about the pricing fundamentals, like what cost and margin are and how to calculate them etc... it is also well explained, very thorough.

By Cezar G

Sep 30, 2017

Excellent overview of Pricing strategy. The teaching quality is world class, concepts are clearly presented and explained, and the assessments are structured expertly to ensure an understanding of the course content.

By Francisc G

Aug 5, 2019

Even though there might be things I don't require for my job role/company, it's well put together and every new bit I learned helped me a lot to understand the business culture I'm currently in. Great course!

By Garth Z

Oct 6, 2020

This course gets straight to the essence of the core concepts and formulas of pricing strategy. Content and instructors are clear and the final project properly reflects the material covered in the course.

By Meredith P

May 8, 2018

Concepts in this course are challenging but the class is setup for students to succeed. I really enjoyed this course and would recommend it to anyone looking to learn more about pricing strategy.