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.
Este curso forma parte de Programa Especializado - Pricing Strategy Optimization
Market and Competition in Pricing Strategy
ofrecido por
Universidad de Virginia
BCG
Acerca de este Curso
4.8
88 calificaciones
Qué aprenderás
Market and competition applications in product pricing
How to utilize game theory to influence market pricing
How to leverage competitor pricing models and knowledge of the product lifecycle to price products
Strategies for price discrimination in competitive markets
Habilidades que obtendrás
Competitor Pricing ModelsPricing StrategiesPricing to CompetitionPrice DiscriminationMarket Segmentation
Programa - Qué aprenderás en este curso
Semana
1Understanding 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 (Total 43 minutos), 3 readings, 3 quizzes
10 videos
Three Lenses4m
Course Introduction2m
Legal Structures Related to Pricing4m
The Sherman Antitrust Act4m
The Clayton Act4m
The Robinson-Patman Act3m
Common Practices & Shifts in Interpretation6m
Competitive Framework7m
Week 1 Takeaways1m
3 lecturas
Course Overview & Requirements10m
Survey10m
Using Discussion Forums to Deepen Your Learning10m
3 ejercicios de práctica
Practice Quiz on Legal Aspects of Pricing24m
Practice Quiz on the Competitive Framework6m
Week 1 Quiz on Understanding the Playing Field36m
Semana
2Predicting 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 (Total 46 minutos), 3 quizzes
10 videos
Value Mapping5m
Value Mapping: Sandisk vs PNY5m
Introduction to Game Theory2m
The Prisoner's Dilemma5m
The Evolution of Cooperation8m
Signaling Games4m
Extensive Form Signaling Games7m
Gas Wars and Takeaways4m
Week 2 Takeaways59s
3 ejercicios de práctica
Practice Quiz on Value Mapping9m
Practice Quiz on Game Theory21m
Week 2 Quiz on Predicting Competitive Reactions36m
Semana
3Disrupting 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 (Total 57 minutos), 1 reading, 3 quizzes
13 videos
Competitor Pricing Models3m
Competitive Price Moves: Understand Competitive Dynamics9m
Competitive Price Moves: Assess Your Options6m
Competitive Price Moves: Choose and Execute Best Move4m
Price Wars6m
Pricing through the Product Life Cycle6m
Pricing in the Growth Phase3m
Pricing in the Maturity Phase6m
Pricing in the Decline Phase5m
Case Introduction: SmartOps2m
Case Debrief: SmartOps1m
Week 3 Takeaways1m
1 lecturas
Case Study: SmartOps Corporation: Forging Smart Alliances?10m
3 ejercicios de práctica
Practice Quiz on Competitor Pricing Models18m
Practice Quiz on Pricing through the Product Life Cycle12m
Week 3 Quiz on Disrupting Markets and Engaging in Coopetition36m
Semana
4Implementing 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 (Total 60 minutos), 5 quizzes
10 videos
Customer Segmentation Strategies10m
B2B Segmentation Strategies5m
Weber-Fechner Law of Pricing4m
Weber-Fechner and Pricing9m
Pricing Your Least Expensive Products4m
Pricing Your Most Expensive Products3m
Bundle Pricing9m
Creating Economically Sound Pricing Bundles9m
Week 4 Takeaways1m
4 ejercicios de práctica
Practice Quiz on Customer Segmentation Strategies9m
Practice Quiz on Product Line Pricing12m
Practice Quiz on Bundle Pricing9m
Week 4 Quiz on Implementing Price Discrimination in Competitive Markets36m
Principales revisiones
por RS•Jun 21st 2017
Great course, great specialization. A very nice presentation of the Market and Competition lens - legal, game theory and cooperation through competition, all come together very nicely in this course.
por AH•Jan 14th 2019
I have added new information to me, it was an excellent course and I would like to complete another course. and I would to thank all teachers
Instructores
Jean Manuel Izaret
Senior Partner and Managing Director, Leader of BCG’s Global Pricing Practice
Ronald T. Wilcox
NewMarket Corporation Professor of Business Administration & Senior Associate Dean for Degree ProgramsMarketing
Thomas Kohler
Associate Director, PricingMarketing, Sales & Pricing Practice
Acerca de Universidad de 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.
Acerca de BCG
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.
Acerca del programa especializado Pricing Strategy Optimization
In this Specialization, we show you techniques to increase price realization and maximize profits. Learn from Boston Consulting Group's global pricing experts and University of Virginia Darden School of Business faculty, who share the frameworks, tips and tools we use in our business and research environments. We will look at pricing through BCG's proprietary and time-tested three “lenses”—cost and economics, customer value, and competition—to build your understanding of the strategic power of pricing. You’ll leave the Specialization with a portfolio-building presentation that demonstrates your ability to price strategically.
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