Acerca de este curso: If you haven’t considered what the competition is charging, you may not be maximizing your revenue. Spend time analyzing the market and you can influence price and improve margins. In this course, we'll show you how to implement competitive pricing and avoid common legal pitfalls of market-based pricing. You will also learn how to predict, influence and respond to competitors’ pricing moves. Led by Darden faculty and Boston Consulting Group global pricing experts, this course provides an in-depth understanding of market-based pricing and how to use it to capture more revenue.
Creada por: University of Virginia, BCG
Enseñado por: Jean Manuel Izaret, Senior Partner and Managing Director, Leader of BCG’s Global Pricing Practice
Enseñado por: Ronald T. Wilcox, NewMarket Corporation Professor of Business Administration & Senior Associate Dean for Degree Programs
Marketing
Enseñado por: Thomas Kohler, Associate Director, Pricing
Marketing, Sales & Pricing Practice
| Información básica | Curso 3 de 4 en Pricing Strategy Optimization Specialization |
| Nivel | Principiante |
| Compromiso | 4 weeks of study, 2-4 hours per week |
| Idioma | English |
| Requerimientos de hardware | You'll need a graphing calculator to complete some calculations (available on most mobile phones). |
| Cómo aprobar | Aprueba todas las tareas calificadas para completar el curso. |
| Calificaciones del usuario |
Programa
SEMANA 1
Understanding the Playing Field
Welcome! Competitive pricing is all about setting prices based on what companies with similar products and services charge. To use this approach effectively, you have to understand the playing field. In particular, you need to know general legal parameters that guide competition in the market place. In this module, you'll get basic background knowledge so that you can use market knowledge in your pricing strategy and still stay on the right side of antitrust law. Then Thomas will join you to introduce the competitive pricing framework , which you can use to assess pricing options, anticipate your competitors' pricing strategy, and determine whether to price to competition or to elasticity.
10 videos, 3 lecturas, 2 cuestionarios de práctica
- Vídeo: Three Lenses
- Discussion Prompt: Which lens seems most applicable to your work?
- Vídeo: Course Introduction
- Reading: Course Overview & Requirements
- Reading: Survey
- Reading: Using Discussion Forums to Deepen Your Learning
- Discussion Prompt: Meet and Greet
- Vídeo: Legal Structures Related to Pricing
- Vídeo: The Sherman Antitrust Act
- Vídeo: The Clayton Act
- Vídeo: The Robinson-Patman Act
- Vídeo: Common Practices & Shifts in Interpretation
- Practice Quiz: Practice Quiz on Legal Aspects of Pricing
- Vídeo: Competitive Framework
- Discussion Prompt: Which price strategy does your company use?
- Practice Quiz: Practice Quiz on the Competitive Framework
- Vídeo: Week 1 Takeaways
Calificado: Week 1 Quiz on Understanding the Playing Field
SEMANA 2
Predicting Competitive Reactions
Now that you know more about the playing field, let's take a look at how to predict competitive reactions. Thomas will show you value mapping, a tool that yields valuable insights into the value-price relationship relative to your competitors, and how to apply it in a real-world example. Then you'll dive into game theory, a field with many applications. Here, you'll use it anticipate and respond to price competition so that you can cooperate and compete without colluding.
10 videos, 2 cuestionarios de práctica
- Vídeo: Value Mapping
- Vídeo: Value Mapping: Sandisk vs PNY
- Discussion Prompt: Other examples that match Sandisk vs PNY?
- Practice Quiz: Practice Quiz on Value Mapping
- Vídeo: Introduction to Game Theory
- Vídeo: The Prisoner's Dilemma
- Vídeo: The Evolution of Cooperation
- Vídeo: Signaling Games
- Vídeo: Extensive Form Signaling Games
- Vídeo: Gas Wars and Takeaways
- Practice Quiz: Practice Quiz on Game Theory
- Vídeo: Week 2 Takeaways
Calificado: Week 2 Quiz on Predicting Competitive Reactions
SEMANA 3
Disrupting Markets and Engaging in "Coopetition"
Disrupting competition and engaging in "coopetition" can benefit all players in the market--but not all the time. Using knowledge from game theory and pricing models can help you understand when this strategy can be beneficial. Thomas will introduce two competitor pricing models--price moves and price wars--and show you how to use these models to predict and respond to competitors. Then Ron will show you various strategies to optimize prices through the four phases of the product life cycle, from disruptive to declining products. Then you will use the SmartOps case to apply your knowledge of "coopetition" to analyze a real-world pricing decision.
13 videos, 1 lectura, 2 cuestionarios de práctica
- Vídeo: Competitor Pricing Models
- Vídeo: Competitive Price Moves: Understand Competitive Dynamics
- Vídeo: Competitive Price Moves: Assess Your Options
- Vídeo: Competitive Price Moves: Choose and Execute Best Move
- Vídeo: Price Wars
- Practice Quiz: Practice Quiz on Competitor Pricing Models
- Discussion Prompt: Price Wars You Have Known
- Vídeo: Pricing through the Product Life Cycle
- Vídeo: Pricing in the Growth Phase
- Vídeo: Pricing in the Maturity Phase
- Vídeo: Pricing in the Decline Phase
- Vídeo: Case Introduction: SmartOps
- Reading: Case Study: SmartOps Corporation: Forging Smart Alliances?
- Discussion Prompt: SmartOps: Should they trust SAP and sign the contract?
- Vídeo: Case Debrief: SmartOps
- Practice Quiz: Practice Quiz on Pricing through the Product Life Cycle
- Vídeo: Week 3 Takeaways
Calificado: Week 3 Quiz on Disrupting Markets and Engaging in Coopetition
SEMANA 4
Implementing Price Discrimination in Competitive Markets
Price discrimination--selling the same product to different market segments at different prices--allows companies to optimize profits, even in competitive markets. It begins with customer segmentation, and Ron will show you practical segmentation strategies for both B2B and B2C contexts. Then you'll learn how to apply the Weber-Fechner Law, which sounds complicated, but is actually quite intuitive and useful when pricing quality-differentiated product lines. Finally, you'll learn the basics of bundle pricing and how to create economically sound bundles.
10 videos, 3 cuestionarios de práctica
- Vídeo: Customer Segmentation Strategies
- Vídeo: B2B Segmentation Strategies
- Practice Quiz: Practice Quiz on Customer Segmentation Strategies
- Vídeo: Weber-Fechner Law of Pricing
- Vídeo: Weber-Fechner and Pricing
- Vídeo: Pricing Your Least Expensive Products
- Vídeo: Pricing Your Most Expensive Product
- Practice Quiz: Practice Quiz on Product Line Pricing
- Vídeo: Bundle Pricing
- Vídeo: Creating Economically Sound Pricing Bundles
- Practice Quiz: Practice Quiz on Bundle Pricing
- Vídeo: Week 4 Takeaways
- Discussion Prompt: Additional Competitive Intelligence
Calificado: Week 4 Quiz on Implementing Price Discrimination in Competitive Markets
Calificado: Market Competition in Backpack Land
Preguntas Frecuentes
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Creadores
University of Virginia
A premier institution of higher education, The University of Virginia offers outstanding academics, world-class faculty, and an inspiring, supportive environment. Founded by Thomas Jefferson in 1819, the University is guided by his vision of discovery, innovation, and development of the full potential of students from all walks of life. Through these courses, global learners have an opportunity to study with renowned scholars and thought leaders.
BCG
The Boston Consulting Group (BCG) is a global management consulting firm and the world’s leading advisor on business strategy.
We partner with clients from the private, public, and not-for-profit sectors in all regions to identify their highest-value opportunities, address their most critical challenges, and transform their enterprises. Our customized approach combines deep insight into the dynamics of companies and markets with close collaboration at all levels of the client organization. This ensures that our clients achieve sustainable competitive advantage, build more capable organizations, and secure lasting results. Founded in 1963, BCG is a private company with offices in more than 90 cities in 50 countries. For more information, please visit bcg.com.
Tarifa
| Comprar curso | |
|---|---|
| Accede a los materiales del curso | Disponible |
| Accede a los materiales con calificación | Disponible |
| Recibe una calificación final | Disponible |
| Obtén un Certificado de curso para compartir | Disponible |
Calificaciones y revisiones
Super course - really relevant and engaging.
I think this course is useful for a person like me who never learned economics before in order to transfer into the business consulting field.
Excellent course with a lot of practical examples and great learning.
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IS
I had a fantastic learning time through the course!!!