This course is part of the Pricing Strategy Optimization Specialization

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155 ratings

Jean Manuel Izaret +2 more instructors

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Offered By

University of Virginia

BCG

Pricing Strategy Optimization SpecializationUniversity of Virginia

About this Course

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In this project-centered course, Darden's Ron Wilcox and BCG's Thomas Kohler will walk you through a real-world case, from problem statement to detailed analyses. You'll use all three lenses (cost, customer value, and competition) to recommend an optimal price—and then adjust to market disruptions. Utilizing the concepts, tools and techniques taught in previous Specialization courses—from basic techniques of economics to knowledge of customer segments, willingness to pay, and customer decision making to analysis of market prices, share, and industry dynamics—you will practice setting profit maximizing prices to improve price realization. You'll finish the course with a portfolio-building project that demonstrates your pricing prowess from this Darden School of Business at the University of Virginia and Boston Consulting Group course.

Flexible deadlines

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Shareable Certificate

Earn a Certificate upon completion

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Course 4 of 4 in the

Pricing Strategy Optimization Specialization

Intermediate Level

Some familiarity with business is helpful, but not required.

Approx. 13 hours to complete

English

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What you will learn

How to use the three lenses to set an optimal strategic price to maximize revenue
How to approach a pricing case, glean information, and work through a complicated pricing decision
How to utilize tools and data to analyze and recommend a strategic response to a real world pricing situation

Skills you will gain

Competition (Economics)
Conjoint Analysis
Pricing Strategies
Executive Presentation
Pricing Economics

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 4 of 4 in the

Pricing Strategy Optimization Specialization

Intermediate Level

Some familiarity with business is helpful, but not required.

Approx. 13 hours to complete

English

Could your company benefit from training employees on in-demand skills?

Try Coursera for Business

Instructors

Instructor rating

4.83/5 (14 Ratings)

Offered by

University of Virginia

A premier institution of higher education, The University of Virginia offers outstanding academics, world-class faculty, and an inspiring, supportive environment. Founded by Thomas Jefferson in 1819, the University is guided by his vision of discovery, innovation, and development of the full potential of students from all walks of life. Through these courses, global learners have an opportunity to study with renowned scholars and thought leaders.

BCG

Boston Consulting Group (BCG) is a global management consulting firm and the world’s leading advisor on business strategy.

We partner with clients from the private, public, and not-for-profit sectors in all regions to identify their highest-value opportunities, address their most critical challenges, and transform their enterprises. Our customized approach combines deep insight into the dynamics of companies and markets with close collaboration at all levels of the client organization. This ensures that our clients achieve sustainable competitive advantage, build more capable organizations, and secure lasting results. Founded in 1963, BCG is a private company with offices in more than 90 cities in 50 countries. For more information, please visit bcg.com.

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Syllabus - What you will learn from this course

Week1

Week 1

3 hours to complete

Retail Market Dynamics

Welcome to the course! We'll kick off the week with an overview of the project, which centers around Philips introduction of an eco-friendly light bulb. Once you've read the case, Thomas and Ron will guide you as you apply the cost lens to analyze the economics of the LED light bulb Philips has introduced to the market. After you've analyzed the economics of the case, Ron and Thomas will debrief to make sure you are on the right track. You will also hear from BCG pricing experts, who will share their lessons and tips gleaned from years of helping clients in multiple industries optimize their prices and improve the bottom line.

3 hours to complete

15 videos (Total 60 min), 5 readings, 3 quizzes

15 videos

Pricing Specialization Overview2mThree Lenses4mCourse Overview4mDeveloping the Three Lens Framework2mUsing the Three Lenses8mKnowledge Is Not Enough3mCase Introduction1mAssignment 1 Introduction4mReview: Basic Metrics of Pricing: Margins and Markups5mCalculating Power Usage and Cost3mAssignment Debrief: Superbulb Failure3mAssignment Debrief: LED Price Considerations3mAssignment Debrief: Retailer Margin Justification5mAssignment Debrief: Customer Economics4mThe Myth of the Invisible Hand2m

5 readings

Course Overview & Requirements10mSurvey10mPhilips: Pricing the LED Bulb (A)10mWeek 1 Case Questions10mCase-based Learning at Darden12m

3 practice exercises

Superbulb Economics20mLED Price Considerations20mCustomer Economics20m

Week2

Week 2

2 hours to complete

Customer Value and Conjoint Analysis

2 hours to complete

8 videos (Total 36 min), 1 reading, 2 quizzes

8 videos

Assignment 2 Introduction1mConjoint Analysis: Steps 1 – 38mConjoint Analysis: Step 4 and Product Preferences7mAttribute Trade-offs2mAttribute Importances4mConjoint Analysis: Willingness to Pay5mAssignment Debrief: Learning about the Market Using Conjoint Analysis3mAssignment Debrief: Calculating WTP Using Conjoint3m

1 reading

Week 2 Case Questions10m

2 practice exercises

Learning about the Market30mCalculating WTP Using Conjoint45m

Week3

Week 3

5 hours to complete

Price Recommendation

5 hours to complete

2 videos (Total 8 min)

Week4

Week 4

3 hours to complete

Curveball

This week, you will respond to new developments in the LED light bulb market: a new competitor and new regulations. Just like in real life, you'll need to adjust your strategy when the competitive landscape changes and new regulations emerge and reconsider the retail marketplace and reevaluate the B2B market. You'll also head out into your own "real world" and do some detective work about the LED bulb market in your area and relate those finding to the case. We'll finish the course with BCG pricing experts sharing their insights into what makes pricing such a rewarding field.

3 hours to complete

15 videos (Total 67 min), 2 readings, 1 quiz

15 videos

Assignment 4 Introduction4mSignaling Games4mExtensive Form Signaling Games7mGas Wars and Takeaways4mCompetitor Pricing Models3mCompetitive Price Moves: Understand Competitive Dynamics9mCompetitive Price Moves: Assess Your Options6mCompetitive Price Moves: Choose and Execute Best Move4mPrice Wars6mAssignment 4 Debrief1mThe Three Lenses Across Industries4mThe Art and Science of Pricing3mA Career in Pricing3mWhy I Love Pricing3mCourse Conclusion30s

2 readings

Philips: Pricing the LED Bulb (B)30mWeek 4 Case Questions10m

1 practice exercise

Responding to Competitor Moves30m

Reviews

4.7

27 reviews

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TOP REVIEWS FROM PRICING STRATEGY IN PRACTICE

by SSApr 24, 2020

A course that is well taught and highly informative. Recommend it and the specialisation :)

by CBMar 31, 2018

This is a very useful course that I have taken in pricing. I enjoyed learning it and it is very helpful for me.

by ISFeb 27, 2019

Very Insightful Specialization Course. The contents and delivery are helpful in understanding pricing strategy and being able to apply the skills.

by OOJul 23, 2018

Very insightful course, I am very happy I came across this.

View all reviews

About the Pricing Strategy Optimization Specialization

In this Specialization, we show you techniques to increase price realization and maximize profits. Learn from Boston Consulting Group's global pricing experts and University of Virginia Darden School of Business faculty, who share the frameworks, tips and tools we use in our business and research environments. We will look at pricing through BCG's proprietary and time-tested three “lenses”—cost and economics, customer value, and competition—to build your understanding of the strategic power of pricing. You’ll leave the Specialization with a portfolio-building presentation that demonstrates your ability to price strategically.

Frequently Asked Questions

When will I have access to the lectures and assignments?
Access to lectures and assignments depends on your type of enrollment. If you take a course in audit mode, you will be able to see most course materials for free. To access graded assignments and to earn a Certificate, you will need to purchase the Certificate experience, during or after your audit. If you don't see the audit option:
The course may not offer an audit option. You can try a Free Trial instead, or apply for Financial Aid.
The course may offer 'Full Course, No Certificate' instead. This option lets you see all course materials, submit required assessments, and get a final grade. This also means that you will not be able to purchase a Certificate experience.
What will I get if I subscribe to this Specialization?
When you enroll in the course, you get access to all of the courses in the Specialization, and you earn a certificate when you complete the work. Your electronic Certificate will be added to your Accomplishments page - from there, you can print your Certificate or add it to your LinkedIn profile. If you only want to read and view the course content, you can audit the course for free.
Is financial aid available?
Yes. In select learning programs, you can apply for financial aid or a scholarship if you can’t afford the enrollment fee. If fin aid or scholarship is available for your learning program selection, you’ll find a link to apply on the description page.

More questions? Visit the Learner Help Center.

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Pricing Strategy in Practice

About this Course

What you will learn

Skills you will gain

Instructors

Jean Manuel Izaret

Ronald T. Wilcox

Thomas Kohler

Offered by

University of Virginia

BCG

Syllabus - What you will learn from this course

Retail Market Dynamics

Customer Value and Conjoint Analysis

Price Recommendation

Curveball

Reviews

TOP REVIEWS FROM PRICING STRATEGY IN PRACTICE

About the Pricing Strategy Optimization Specialization

Frequently Asked Questions

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Pricing Strategy in Practice

About this Course

What you will learn

Skills you will gain

Instructors

Jean Manuel Izaret

Ronald T. Wilcox

Thomas Kohler

Offered by

University of Virginia

BCG

Syllabus - What you will learn from this course

Retail Market Dynamics

Customer Value and Conjoint Analysis

Price Recommendation

Curveball

Reviews

TOP REVIEWS FROM PRICING STRATEGY IN PRACTICE

About the Pricing Strategy Optimization Specialization

Frequently Asked Questions

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