Cost-Based PricingPricing StrategiesMarket-Based PricingCustomer Value-based PricingStrategic ManagementChannel and Direct-to-Consumer PricingPrice DiscriminationPrice Elasticity Of DemandCustomer Willingness to PayMeasuring Customer PreferencesCustomer PsychologyCompetitor Pricing Models
Pricing Strategy Optimization Specialization
Set prices the way the experts do. Master pricing strategies used by global consulting and academic leaders.
Offered By
University of Virginia
BCG
Pricing Strategy Optimization SpecializationUniversity of VirginiaWhat you will learn
How to utilize the strategic power of pricing to set profit maximizing prices
Cost and economics in pricing strategy
How to leverage knowledge of customer value to develop a pricing strategy
Market and competitor pricing models that inform pricing decisions
Skills you will gain
About this Specialization
8,576 recent views
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.
Applied Learning Project
Utilizing the concepts, tools and techniques taught in each course—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 in a variety of real-world scenarios.
Learner Career Outcomes
50%
Started a new career after completing this specialization.
21%
Got a pay increase or promotion.
Shareable Certificate
Earn a Certificate upon completion
100% online courses
Start instantly and learn at your own schedule.
Flexible Schedule
Set and maintain flexible deadlines.
Beginner Level
Some familiarity with business is helpful, but not required.
Approx. 4 months to complete
Suggested 3 hours/week
English
Subtitles: English, French, Russian, Spanish, Romanian
Learner Career Outcomes
50%
Started a new career after completing this specialization.
21%
Got a pay increase or promotion.
Shareable Certificate
Earn a Certificate upon completion
100% online courses
Start instantly and learn at your own schedule.
Flexible Schedule
Set and maintain flexible deadlines.
Beginner Level
Some familiarity with business is helpful, but not required.
Approx. 4 months to complete
Suggested 3 hours/week
English
Subtitles: English, French, Russian, Spanish, Romanian
There are 4 Courses in this Specialization
Cost and Economics in Pricing Strategy
521 ratings
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.
Customer Value in Pricing Strategy
267 ratings
The traditional approach to pricing based on costs works to pay the bills, but it leaves revenue on the table. You can, in fact, price your products in a way that increases sales--if you know what your customers are willing to pay and can leverage psychology to create better deal and discount plans. In this course, we'll show you how to price a product based on how your customers value it and the psychology behind their purchase decisions. 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, this course provides an in-depth understanding of value-based pricing and how to use it to capture more revenue.
Market and Competition in Pricing Strategy
187 ratings
If you haven’t considered what the competition is charging, you may not be maximizing your revenue. Spend time analyzing the market and you can influence price and improve margins. In this course, we'll show you how to implement competitive pricing and avoid common legal pitfalls of market-based pricing. You will also learn how to predict, influence and respond to competitors’ pricing moves. 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, this course provides an in-depth understanding of market-based pricing and how to use it to capture more revenue.
Pricing Strategy in Practice
132 ratings
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.
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.
Frequently Asked Questions
What is the refund policy?
If you subscribed, you get a 7-day free trial during which you can cancel at no penalty. After that, we don’t give refunds, but you can cancel your subscription at any time. See our full refund policy.
Can I just enroll in a single course?
Yes! To get started, click the course card that interests you and enroll. You can enroll and complete the course to earn a shareable certificate, or you can audit it to view the course materials for free. When you subscribe to a course that is part of a Specialization, you’re automatically subscribed to the full Specialization. Visit your learner dashboard to track your progress.
Is financial aid available?
Yes, Coursera provides financial aid to learners who cannot afford the fee. Apply for it by clicking on the Financial Aid link beneath the "Enroll" button on the left. You'll be prompted to complete an application and will be notified if you are approved. You'll need to complete this step for each course in the Specialization, including the Capstone Project. Learn more.
Can I take the course for free?
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. If you only want to read and view the course content, you can audit the course for free. If you cannot afford the fee, you can apply for financial aid.
Is this course really 100% online? Do I need to attend any classes in person?
This course is completely online, so there’s no need to show up to a classroom in person. You can access your lectures, readings and assignments anytime and anywhere via the web or your mobile device.
Do I need to take the courses in a specific order?
We recommend the following sequence: Economics of Pricing, Pricing to Customer Value, Market-based Pricing, Pricing Strategy Optimization. While you can take the first three courses simultaneously, we recommend taking the Pricing Strategy Optimization course last, since it draws on concepts from the three previous courses.
What background knowledge is necessary?
Our target learners have an interest in business and marketing. With an undergraduate or graduate degree, they are looking to advance in their career or deliver more value in their current role and might someday pursue an advanced business degree. They take initiative and are proactive in developing new skills and competencies to achieve career objectives, develop professionally and expand their knowledge bases.
How long does it take to complete the Specialization?
Each course in the Specialization is organized into four weeks of content and assignments. You may take the four courses sequentially over the course of four months, or may take courses simultaneously to complete more quickly.
Will I earn university credit for completing the Specialization?
University credit is not available for Specialization completion; however, you will get a certificate from Coursera that is widely recognized by employers and documents your achievement.
What will I be able to do upon completing the Specialization?
After completing this Specialization, you will be able to employ five economic techniques to improve price realization; improve price realization by applying knowledge of customer segments, willingness to pay, and how customers make purchasing decisions; analyze market prices, market share, and industry dynamics to set optimal price points; and recommend a profit-maximizing price considering economic, customer-value, and competitive market forces.
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