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.
Set prices the way the experts do
Master pricing strategies used by global consulting and academic leaders.
About This Specialization
Follow the suggested order or choose your own.
Designed to help you practice and apply the skills you learn.
Highlight your new skills on your resume or LinkedIn.
- Beginner Specialization.
- No prior experience required.
Cost and Economics in Pricing StrategyCurrent session: Mar 27 — May 1.
- 4 weeks of study; 3-4 hours/week
About the CourseHow 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
Customer Value in Pricing StrategyUpcoming session: Apr 3 — May 8.
About the CourseThe 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. Led by 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. By the end of this course, you'll be able to... -- Apply knowledge of customer value to price products -- Leverage core value-based pricing techniques to inform pricing decisions -- Measure customer willingness to pay using models (surveys, conjoint analysis, other data) -- Use knowledge of consumer psychology to set prices beneficial to both consumers and sellers
Market and Competition in Pricing StrategyUpcoming session: Apr 3 — May 8.
- 4 weeks of study, 3-5 hours per week
About the CourseIf 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. Led by 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 PracticeStarts April 24th, 2017
- 4 weeks of study, 4-6 hours/week
About the CourseEver wonder how companies set prices for their products and services? In this Specialization, we show you the tools, frameworks and proven techniques a top global management consulting firm uses with its clients to increase price realization and maximize profits. Learn from The 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. You will look at pricing through BCG's proprietary and time-tested three “lenses”—cost and economics, customer value, and competition—and finish the Specialization with a completed pricing presentation to share with employers.
Jean Manuel Izaret
Senior Partner and Managing Director, Leader of BCG’s Global Pricing Practice
Associate Director, Pricing
Ronald T. Wilcox
NewMarket Corporation Professor of Business Administration & Senior Associate Dean for Degree Programs