University of Virginia
Market and Competition in Pricing Strategy
University of Virginia

Market and Competition in Pricing Strategy

This course is part of Pricing Strategy Optimization Specialization

Taught in English

Some content may not be translated

Jean Manuel Izaret
Ronald T. Wilcox
Thomas Kohler

Instructors: Jean Manuel Izaret

11,048 already enrolled

Course

Gain insight into a topic and learn the fundamentals

4.9

(224 reviews)

|

93%

Beginner level

Recommended experience

11 hours (approximately)
Flexible schedule
Learn at your own pace

What you'll learn

  • Market and competition applications in product pricing

  • How to utilize game theory to influence market pricing

  • How to leverage competitor pricing models and knowledge of the product lifecycle to price products

  • Strategies for price discrimination in competitive markets

Details to know

Shareable certificate

Add to your LinkedIn profile

Assessments

13 quizzes

Course

Gain insight into a topic and learn the fundamentals

4.9

(224 reviews)

|

93%

Beginner level

Recommended experience

11 hours (approximately)
Flexible schedule
Learn at your own pace

See how employees at top companies are mastering in-demand skills

Placeholder

Build your subject-matter expertise

This course is part of the Pricing Strategy Optimization Specialization
When you enroll in this course, you'll also be enrolled in this Specialization.
  • Learn new concepts from industry experts
  • Gain a foundational understanding of a subject or tool
  • Develop job-relevant skills with hands-on projects
  • Earn a shareable career certificate
Placeholder
Placeholder

Earn a career certificate

Add this credential to your LinkedIn profile, resume, or CV

Share it on social media and in your performance review

Placeholder

There are 4 modules in this course

Welcome! Competitive pricing is all about setting prices based on what companies with similar products and services charge. To use this approach effectively, you have to understand the playing field. In particular, you need to know general legal parameters that guide competition in the market place. In this module, you'll get basic background knowledge so that you can use market knowledge in your pricing strategy and still stay on the right side of antitrust law. Then Thomas will join you to introduce the competitive pricing framework , which you can use to assess pricing options, anticipate your competitors' pricing strategy, and determine whether to price to competition or to elasticity.

What's included

10 videos3 readings3 quizzes3 discussion prompts

Now that you know more about the playing field, let's take a look at how to predict competitive reactions. Thomas will show you value mapping, a tool that yields valuable insights into the value-price relationship relative to your competitors, and how to apply it in a real-world example. Then you'll dive into game theory, a field with many applications. Here, you'll use it anticipate and respond to price competition so that you can cooperate and compete without colluding.

What's included

10 videos3 quizzes1 discussion prompt

Disrupting competition and engaging in "coopetition" can benefit all players in the market--but not all the time. Using knowledge from game theory and pricing models can help you understand when this strategy can be beneficial. Thomas will introduce two competitor pricing models--price moves and price wars--and show you how to use these models to predict and respond to competitors. Then Ron will show you various strategies to optimize prices through the four phases of the product life cycle, from disruptive to declining products. Then you will use the SmartOps case to apply your knowledge of "coopetition" to analyze a real-world pricing decision.

What's included

13 videos1 reading3 quizzes2 discussion prompts

Price discrimination -- selling the same product to different market segments at different prices -- allows companies to optimize profits, even in competitive markets. It begins with customer segmentation, and Ron will show you practical segmentation strategies for both B2B and B2C contexts. Then you'll learn how to apply the Weber-Fechner Law, which sounds complicated, but is actually quite intuitive and useful when pricing quality-differentiated product lines. Finally, you'll learn the basics of bundle pricing and how to create economically sound bundles.

What's included

10 videos4 quizzes1 peer review1 discussion prompt

Instructors

Instructor ratings
4.9 (26 ratings)
Jean Manuel Izaret
BCG
4 Courses43,821 learners

Offered by

BCG

Recommended if you're interested in Marketing

Why people choose Coursera for their career

Felipe M.
Learner since 2018
"To be able to take courses at my own pace and rhythm has been an amazing experience. I can learn whenever it fits my schedule and mood."
Jennifer J.
Learner since 2020
"I directly applied the concepts and skills I learned from my courses to an exciting new project at work."
Larry W.
Learner since 2021
"When I need courses on topics that my university doesn't offer, Coursera is one of the best places to go."
Chaitanya A.
"Learning isn't just about being better at your job: it's so much more than that. Coursera allows me to learn without limits."

Learner reviews

Showing 3 of 224

4.9

224 reviews

  • 5 stars

    86.16%

  • 4 stars

    13.39%

  • 3 stars

    0.44%

  • 2 stars

    0%

  • 1 star

    0%

AG
5

Reviewed on Apr 22, 2021

MN
5

Reviewed on Jun 16, 2020

MA
5

Reviewed on Sep 26, 2017

New to Marketing? Start here.

Placeholder

Open new doors with Coursera Plus

Unlimited access to 7,000+ world-class courses, hands-on projects, and job-ready certificate programs - all included in your subscription

Advance your career with an online degree

Earn a degree from world-class universities - 100% online

Join over 3,400 global companies that choose Coursera for Business

Upskill your employees to excel in the digital economy

Frequently asked questions