Pricing is part art and part science. We will discuss both perspectives during the term. The course discusses pricing concepts and tools from a marketing perspective and as an integral part of the marketing strategy and business model chosen by an organization. Different factors affecting and influencing the formulation of a pricing strategy are discussed, including costs, demand, competition, intermediaries, technology, data, laws & ethics.
Upon completion of this course, you should be able to:
1.- Understand the nature, context and challenges of pricing within a business model
2.- Develop the different components of a pricing strategy and its relationship with marketing strategy
3.- Analyze and compare alternative pricing strategies
4.- Develop pricing discrimination strategies to maximize value capture
5.- Understand innovation applied to pricing models.
6.- Develop competences to manage a pricing strategy considering demand, competitive forces, legal constraints and ethical principles.
7.- Understand the impact on pricing of emergent technologies such as machine learning, algorithms and personalization tools.
In order to leverage the online context and the international component of the class, an intensive use of cases is considered, as well as a simulation software-game.
We will have a two-hour online session (for seven weeks) plus 30 minutes aprox. of video for class preparation (non-synchronic) each week. Zoom-sessions and videos will be posted on the Moodle Platform for your review. The student participation in the weekly 2-hour session is strongly encouraged, given that we will devote a significant part to the discussion of cases and group exercises.