Pricing Strategies (MSB208)

How to set prices for your products and services? Pricing is the most important decision companies make to capture the value they create. Traditional pricing approaches, driven mainly by costs, dictated by customers, or exclusively based on what competitors do, are usually not the most effective in capturing the value a company creates. Managers relying on traditional pricing approaches very often make mistakes in their pricing decisions, which tend to be too cost-oriented, failing to incorporate customers' response, collaborators' response, as well as competitive reactions. This course is designed to equip you with concepts, theories, techniques, and latest thinking on assessing and formulating pricing strategies. In this course, you will learn the process of making pricing decisions and explore innovative approaches for setting prices effectively.


Course description for study year 2023-2024. Please note that changes may occur.

Facts

Course code

MSB208

Version

1

Credits (ECTS)

5

Semester tution start

Autumn

Number of semesters

1

Exam semester

Autumn

Language of instruction

English, Norwegian Bokmål, Norwegian

Content

Examples of typical subject areas covered are:

  • Overview and importance of pricing
  • Segmented pricing and price customization
  • Competitive pricing strategy
  • Pricing of digital products
  • Pricing for platforms
  • Pricing strategies with behavioral/psychological considerations

Learning outcome

Knowledge

Upon completion of the course, students will have gained knowledge of:

  • Concepts, theories, and techniques required for setting prices effectively
  • Various pricing strategies

Skills

Upon completion of the course, students will be able to:

  • Work well in teams
  • Contribute actively to co-creation of knowledge
  • Apply theories and techniques to analyze cases and provide solutions to the identified pricing problems

Required prerequisite knowledge

None

Exam

School exam, portfolio and class participation

Form of assessment Weight Duration Marks Aid
Portfolio (in groups) 35/100 .5 Semesters Letter grades
School exam 50/100 4 Hours Letter grades None permitted
Class participation 15/100 Letter grades

All the assessments are given and responded to in English. To take the final exam, students must pass the class attendance (75%), class participation, and the group portfolio requirements. You will be asked to submit an assessment of your own class participation and a peer evaluation of the group projects. All parts of the assessment must be passed to get a grade in the course.

Coursework requirements

Presentations, Attendance 75%

To be eligible for a grade in the course, students must meet the following requirements:

  • 75% attendance of all sessions starting from week 1 of teaching
  • Pass all parts of the assessment

Course teacher(s)

Course coordinator:

Hongyan Shi

Study Program Director:

Yuko Onozaka

Method of work

In this course, you will learn through a mixture of lectures, teamwork, case discussions, and independent study.

Expectations: 140 ECTS hours are divided into lectures, case discussions, teamwork, and independent study of course material.

Open for

Business Administration - Master of Science

Course assessment

There must be an early dialogue between the course coordinator, the student representative and the students. The purpose is feedback from the students for changes and adjustments in the course for the current semester.In addition, a digital course evaluation must be carried out at least every three years. Its purpose is to gather the students experiences with the course.

Literature

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