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Pricing Strategies MSB208

How do you set prices for your products and services? Pricing is the most important decision companies can 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 way of capturing the value that a company creates. Managers who rely on traditional pricing approaches often make mistakes in their pricing decisions, which tend to be too cost-oriented, fail to incorporate customers’ responses and collaborators’ responses, as well as competitive reactions.

Effective pricing is essential in helping companies to maximize profits. This course equips students with various up-to-date pricing theories, tools, and practices.


Course description for study year 2022-2023. 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

Note

Course does not start before autumn 2023

Content
The course covers various pricing strategies and case discussions.
  • Overview and importance of pricing
  • Pricing economic value to customers
  • Segmented pricing and price discrimination
  • Dynamic pricing
  • Non-linear pricing
  • Pricing for platforms
  • Pricing strategies with behavioral/psychological considerations
Learning outcome

Knowledge

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

  • theories and tools required for setting prices effectively
  • how costs, collaborators, competitors, and customers jointly affect pricing decisions
  • various pricing strategies

Skills

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

  • determine the optimal price for a given pricing problem
  • apply theories and tools to analyze cases and provide solutions to the identified pricing problems
Required prerequisite knowledge
None
Exam

Take home exam and Portfolio (in groups)

Form of assessment Weight Duration Marks Aid
Portfolio (in groups) 1/2 1 Semesters Letter grades
Take home exam 1/2 4 Hours Letter grades

All assessments are made and responded to in English. Students failing the portfolio evaluation will be granted the opportunity of taking a deferred exam. This exam will take the form of new written individual assignments.

Coursework requirements
Presentations, Attendance 70%

Coursework requirements

Presentations, Attendance 70%

70% attendance at all mandatory sessions starting from week 1 of teaching.

In order to take the exams, the students must pass all coursework requirements.

Course teacher(s)
Course coordinator: Hongyan Shi
Study Program Director: Yuko Onozaka
Method of work

Lectures, group work (case analyses, write-ups, and discussions), and independent study. The estimated distribution of ECTS hours are as follows:

1. Lectures: 50 hours

2. Group work: 110 hours

3. Independent study of course material 120 hours

Open for
Business Administration - Master of Science
Course assessment
Students will have the opportunity to give feedback on the course first in an early dialogue, and then in a written course evaluation at the end of the course.
Literature
Search for literature in Leganto