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

4.8
stars
444 ratings
93 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. Led by 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 08, 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 06, 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 90 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 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 Stephanos T

May 03, 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 Aditya G

May 09, 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 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 08, 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 Maria A B

Apr 07, 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 05, 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 Meredith P

May 08, 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.

By Adam G

Apr 06, 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.

By Camilo A A

Jul 07, 2019

All you need to understand about calculations and economics regarding pricing is explained, in detail, using clear examples and with great material to feel satisfied about complex information.

By Matthew K

Jul 22, 2019

Excellent introduction to the mathematics behind cost and pricing strategies. This course gave me a lot of good information that I've already started putting into practice at work.

By Nikitas P

Jun 12, 2019

Really helpful and well-designed course for those interested in understanding the basic Pricing concepts in practice and learn how to approach any pricing challenge

By Olesia A

Apr 28, 2019

The succinct and exhaustive account of pricing. Specifically, this course highlights the role of a firm's cost structure in pricing strategy. Highly recommended!

By Munish M

Oct 11, 2018

Great course. Has good coverage of important concepts and is delivered very well. Really useful course for those with interest in strategic pricing.

By Robinsson Y S D

Mar 27, 2020

It is excellent I learned a lot and acquired tools that I did not know and strategies that increased my horizons of thought on the subject

By Parv S

May 19, 2020

One of the most challenging courses I have done on this platform and yet one of the most rewarding ones. Can't wait to do the next one!

By YANG X

Mar 26, 2020

Good cases with strong background knowledge, the course provides a framework for me to reflect loads of real-world business problems.

By Michael C

May 09, 2017

Interesting module considering this is my first time trying to understand pricing and how to set pricing. Learnt a lot, thanks.

By Georgiy Z

Feb 21, 2019

Excellent overview of economics in pricing strategy.

Great deal of practical work. Very applicable to real life scenarios.