Pricing Strategies: Principles and Applications
Develop strategic pricing expertise using economic principles and market analysis in this intensive 5-week advanced pricing methodology program.
Develop strategic pricing expertise using economic principles and market analysis in this intensive 5-week advanced pricing methodology program.
Develop a strong foundation in pricing strategies with this comprehensive course. Learn to evaluate pricing using the 3C+O framework, apply cost-based pricing heuristics, and understand demand curve analysis. Explore competition-based pricing and the impact of consumer value perceptions on pricing decisions. Gain insights into price discrimination and its practical applications. The course also covers the effects of recent global events like COVID-19 on pricing strategies, providing a timely and relevant perspective for business professionals.
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What you'll learn
Evaluate pricing strategies using the comprehensive 3C+O framework
Apply cost-based pricing heuristics to real-world business scenarios
Analyze demand curves and understand their impact on pricing decisions
Identify and account for relevant competition while developing pricing strategies
Understand the drivers of consumer value perceptions and their influence on pricing
Implement price discrimination techniques and recognize their practical applications
Skills you'll gain
This course includes:
Live video
Graded assignments, exams
Access on Mobile, Tablet, Desktop
Limited Access access
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There are 5 modules in this course
This course provides a comprehensive understanding of pricing strategies rooted in economic principles. It starts with classical pricing theory and progresses to practical applications in modern business contexts. The curriculum covers key areas such as market clearing prices, supply and demand dynamics, and the distinction between price setters and price takers. Students will learn to analyze demand curves, understand price response functions, and optimize revenue through elasticity concepts. The course delves into cost-based pricing decisions, including break-even analysis and price optimization. It also explores competition-based heuristics and the role of company objectives in pricing strategies. Advanced topics include multiproduct pricing, price discrimination, and game theory applications in pricing. Throughout the course, real-world examples and case studies, including the impact of COVID-19 on pricing, provide practical insights for business decision-making.
Economic foundations of Pricing
Module 1
Fundamentals of Demand or Customer point of view
Module 2
Cost based pricing decisions
Module 3
Competition and Objectives
Module 4
Economics of Multiproduct Pricing
Module 5
Fee Structure
Instructor
Distinguished Marketing Scholar and Pricing Strategy Expert
Sreelata Jonnalagedda serves as Professor and Chairperson of Marketing at IIM Bangalore, where she specializes in pricing strategy and marketing management. After earning her PhD from The University of Texas Austin, Masters in Transportation from New Jersey Institute of Technology, and B.Tech from IIT Madras, she has established herself as a leading voice in pricing and consumer behavior research. Her career includes consulting experience with Supply Chain Consultants (now Arkieva) before entering academia. Through her development of innovative teaching tools like 'BrandQuest' simulation and courses in pricing strategy, she continues to influence marketing education while conducting research on incentive structures in pricing and consumer purchase behavior. Her work, published in prestigious journals including Management Science and Manufacturing & Service Operations Management, focuses on pricing innovative products, channel structures, and game-theoretical applications to marketing. As a consultant to organizations including the Tea Board of India and various digital startups, she advances understanding of pricing strategy while helping businesses optimize their market approaches.
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