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.
Limit: 40 students (first come, first served).
Course description for study year 2023-2024
Course code
MSB208
Version
1
Credits (ECTS)
5
Semester tution start
Autumn
Number of semesters
1
Exam semester
Autumn
Language of instruction
English
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
Exam
School exam, portfolio and class participation
| Form of assessment | Weight | Duration | Marks | Aid |
|---|---|---|---|---|
| Portfolio (in groups) | 35/100 | 3 Months | Letter grades | |
| School exam | 50/100 | 4 Hours | Letter grades | - 1), Approved calculator, |
| Class participation | 15/100 | Letter grades |
1) A folder with (1) the printouts of the five cases used in class, and (2) printouts of his/her respective team’s portfolio submission
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
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
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.