Pricing is one of the most important but least understood marketing decisions. Learn and practice concepts, techniques, and get to grips with the latest thinking on assessing and formulating pricing strategies. Analyze how firms attempt to capture value, as well as profits, in the revenues they earn.
This course is part of the Marketing Mix Implementation Specialization
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Marketing Mix Implementation SpecializationIE Business SchoolAbout this Course
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Course 2 of 5 in the
Approx. 14 hours to complete
English
Subtitles: Arabic, French, Portuguese (European), Italian, Vietnamese, Korean, German, Russian, English, Spanish
Could your company benefit from training employees on in-demand skills?
Try Coursera for BusinessSkills you will gain
- Pricing
- Psychology
- Price Discrimination
- Pricing Strategies
Flexible deadlines
Reset deadlines in accordance to your schedule.
Shareable Certificate
Earn a Certificate upon completion
100% online
Start instantly and learn at your own schedule.
Course 2 of 5 in the
Approx. 14 hours to complete
English
Subtitles: Arabic, French, Portuguese (European), Italian, Vietnamese, Korean, German, Russian, English, Spanish
Could your company benefit from training employees on in-demand skills?
Try Coursera for Business
Offered by
IE Business School
IE Business School is an internationally recognized business school where the leaders of tomorrow shape their ideas and learn to become global citizens. For over 40 years, IE Business School has promoted innovation and change in organizations, equipping managers with an entrepreneurial mindset that generates employment, wealth, and social well-being.
Syllabus - What you will learn from this course
3 hours to complete
Demand Curve and Pricing
In this module we will start with the importance of pricing, especially for the bottom line. Having this in mind, and after showing how pricing is the most important driver of profitability, when you finish this module you will be able to execute cost, competition and customer-based pricing. You will also be able to use the concepts of price elasticity and optimal price while setting prices for your products and services.
3 hours to complete
12 videos (Total 51 min), 9 readings, 4 quizzes
5 hours to complete
Determining Willingness to Pay
After finishing this module you will be able to take advantage of four different methods to determine the willingness to pay from customers. Whether using Market Data or Experiments (Observation based) or Expert or Customer Surveys (Survey based), you'll be able to use this information in order to identify the optimal price.
5 hours to complete
9 videos (Total 53 min), 7 readings, 2 quizzes
4 hours to complete
Playing the Pricing Piano or Price Discrimination
What we see in the real world is that companies don't only charge one price for all their products, but rather set different prices for different products with respect to different customer segments. After looking at the benefits of price discrimination (and the significant revenue and profit potential behind it), you will be able to figure out what type and how to implement price discrimination for your products and services.
4 hours to complete
11 videos (Total 75 min), 5 readings, 3 quizzes
3 hours to complete
Pricing Psychology
In this final module we will look at pricing psychology. You will then be able to "manipulate" customers so they perceive a higher value in the products and services that you deliver, or so that they feel less pain by paying the price of purchasing your products. You will have in your toolkit multiple ways to maximize your sales, revenues, and profitability. We will also conduct a couple of experiments with volunteer customers to see how price affects perceptions, and how you can profit from it.
3 hours to complete
9 videos (Total 36 min), 5 readings, 1 quiz
Reviews
- 5 stars73.21%
- 4 stars21.14%
- 3 stars3.82%
- 2 stars0.85%
- 1 star0.95%
TOP REVIEWS FROM PRICING STRATEGY
by NOJan 1, 2018
Interesting but very tough quizzes. I learnt the act of pricing in marketing. The instructor was excellent, practical and clear in his explanations and teachings
by TPDec 28, 2021
It's not easy for a non-commerce background person to understand the terminolgies and how the tallies work. The videos ignore this fact. Otherwise it's informative if understood properly.
by KSJan 30, 2019
I am small hotel owner. This course really changed my attitude and perception towards pricing. I hope the knowledge I gained in this course is going to help me a lot. Thank you .
by ACApr 22, 2020
Very good, perhaps since I already have my MBA some of the first lessons were extremely simple for me but the course is interesting and very well explained.
About the Marketing Mix Implementation Specialization
In this Specialization we will delve into the marketing mix and the skill-set needed to implement successful marketing strategies. Join us and explore the four key concepts of the marketing mix model, also known as the 4Ps: Product (Brand and Product Management), Pricing, Place (Distribution Channel Strategy and Retail) and Promotion (Communication Strategies, PR and Advertising). This course primarily focuses on implementation so you can immediately apply the lessons learned to your work or to a business idea that you are thinking of taking to market. After completing the four courses, you will be able to take part in the Capstone Project where you will have the opportunity to put into practice what you have learned in this specialization by running a real product through the marketing mix.
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