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University of Virginia
Pricing Strategy in Practice
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University of Virginia

Pricing Strategy in Practice

This course is part of Pricing Strategy Optimization Specialization

Jean Manuel Izaret
Ronald T. Wilcox
Thomas Kohler

Instructors: Jean Manuel Izaret

Instructors

Instructor ratings

We asked all learners to give feedback on our instructors based on the quality of their teaching style.

4.9 (17 ratings)
Jean Manuel Izaret
Jean Manuel Izaret
BCG
4 Courses•49,844 learners
Ronald T. Wilcox
Ronald T. Wilcox
University of Virginia
4 Courses•49,844 learners
Thomas Kohler
Thomas Kohler
BCG
4 Courses•49,844 learners

12,511 already enrolled

Included with Coursera Plus

•Learn more
4 modules
Gain insight into a topic and learn the fundamentals.
4.7

(167 reviews)

Intermediate level

Recommended experience

Recommended experience

Intermediate level

Some familiarity with business is helpful, but not required.

13 hours to complete
3 weeks at 4 hours a week
Flexible schedule
Learn at your own pace

4 modules
Gain insight into a topic and learn the fundamentals.
4.7

(167 reviews)

Intermediate level

Recommended experience

Recommended experience

Intermediate level

Some familiarity with business is helpful, but not required.

13 hours to complete
3 weeks at 4 hours a week
Flexible schedule
Learn at your own pace
  • About
  • Outcomes
  • Modules
  • Recommendations
  • Testimonials
  • Reviews

What you'll learn

  • How to use the three lenses to set an optimal strategic price to maximize revenue

  • How to approach a pricing case, glean information, and work through a complicated pricing decision

  • How to utilize tools and data to analyze and recommend a strategic response to a real world pricing situation

Skills you'll gain

  • Presentations
  • Revenue Management
  • Market Share
  • Market Dynamics
  • Product Strategy
  • Market Research
  • Customer Analysis
  • Analysis
  • Cost Accounting
  • Microsoft PowerPoint
  • Market Analysis
  • Value Propositions
  • Strategic Marketing
  • Business Economics
  • Competitive Analysis
  • Consumer Behaviour
  • B2B Sales
  • Price Negotiation
  • Business Strategy

Details to know

Shareable certificate

Add to your LinkedIn profile

Assessments

6 assignments

Taught in English

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Build your subject-matter expertise

This course is part of the Pricing Strategy Optimization Specialization
When you enroll in this course, you'll also be enrolled in this Specialization.
  • Learn new concepts from industry experts
  • Gain a foundational understanding of a subject or tool
  • Develop job-relevant skills with hands-on projects
  • Earn a shareable career certificate

There are 4 modules in this course

In this project-centered course, Darden's Ron Wilcox and BCG's Thomas Kohler will walk you through a real-world case, from problem statement to detailed analyses. You'll use all three lenses (cost, customer value, and competition) to recommend an optimal price—and then adjust to market disruptions. Utilizing the concepts, tools and techniques taught in previous Specialization courses—from basic techniques of economics to knowledge of customer segments, willingness to pay, and customer decision making to analysis of market prices, share, and industry dynamics—you will practice setting profit maximizing prices to improve price realization. You'll finish the course with a portfolio-building project that demonstrates your pricing prowess from this Darden School of Business at the University of Virginia and Boston Consulting Group course.

Welcome to the course! We'll kick off the week with an overview of the project, which centers around Philips introduction of an eco-friendly light bulb. Once you've read the case, Thomas and Ron will guide you as you apply the cost lens to analyze the economics of the LED light bulb Philips has introduced to the market. After you've analyzed the economics of the case, Ron and Thomas will debrief to make sure you are on the right track. You will also hear from BCG pricing experts, who will share their lessons and tips gleaned from years of helping clients in multiple industries optimize their prices and improve the bottom line.

What's included

15 videos5 readings3 assignments3 discussion prompts

15 videos•Total 60 minutes
  • Pricing Specialization Overview•2 minutes•Preview module
  • Three Lenses•4 minutes
  • Course Overview•4 minutes
  • Developing the Three Lens Framework•2 minutes
  • Using the Three Lenses•8 minutes
  • Knowledge Is Not Enough•3 minutes
  • Case Introduction•1 minute
  • Assignment 1 Introduction•4 minutes
  • Review: Basic Metrics of Pricing: Margins and Markups•5 minutes
  • Calculating Power Usage and Cost•3 minutes
  • Assignment Debrief: Superbulb Failure•3 minutes
  • Assignment Debrief: LED Price Considerations•3 minutes
  • Assignment Debrief: Retailer Margin Justification•5 minutes
  • Assignment Debrief: Customer Economics•4 minutes
  • The Myth of the Invisible Hand•2 minutes
5 readings•Total 52 minutes
  • Course Overview & Requirements•10 minutes
  • Survey•10 minutes
  • Philips: Pricing the LED Bulb (A)•10 minutes
  • Week 1 Case Questions•10 minutes
  • Case-based Learning at Darden•12 minutes
3 assignments•Total 60 minutes
  • Superbulb Economics•20 minutes
  • LED Price Considerations•20 minutes
  • Customer Economics•20 minutes
3 discussion prompts•Total 30 minutes
  • Connect with your classmates!•10 minutes
  • Beginning your case analysis•10 minutes
  • Is the 55% retailer margin justified?•10 minutes

This week, we will dig deeper into customer value using conjoint analysis to determine the price sensitivity of consumers and businesses. Thomas and Ron will show you how to graph the conjoint data to easily compare these two markets--and you'll do additional analysis of the conjoint data to learn more about what consumers value. Using your analysis, you'll hone your pricing recommendation.

What's included

8 videos1 reading2 assignments

8 videos•Total 36 minutes
  • Assignment 2 Introduction•1 minute•Preview module
  • Conjoint Analysis: Steps 1 – 3•8 minutes
  • Conjoint Analysis: Step 4 and Product Preferences•7 minutes
  • Attribute Trade-offs•2 minutes
  • Attribute Importances•4 minutes
  • Conjoint Analysis: Willingness to Pay•5 minutes
  • Assignment Debrief: Learning about the Market Using Conjoint Analysis•3 minutes
  • Assignment Debrief: Calculating WTP Using Conjoint•3 minutes
1 reading•Total 10 minutes
  • Week 2 Case Questions•10 minutes
2 assignments•Total 75 minutes
  • Learning about the Market•30 minutes
  • Calculating WTP Using Conjoint•45 minutes

This week, you will pull everything together to make a pricing recommendation for Philips. You will recommend which markets they should serve (B2B, B2C, or both) and how they should price their LED bulbs. You'll learn how to lay out your thought process and rationale in a tightly edited slide deck that presents your recommendations in a compelling way.

What's included

2 videos1 peer review

2 videos•Total 7 minutes
  • Assignment 3 Introduction•6 minutes•Preview module
  • Assignment 3 Debrief•1 minute
1 peer review•Total 285 minutes
  • Recommend a Strategy for Philips•285 minutes

This week, you will respond to new developments in the LED light bulb market: a new competitor and new regulations. Just like in real life, you'll need to adjust your strategy when the competitive landscape changes and new regulations emerge and reconsider the retail marketplace and reevaluate the B2B market. You'll also head out into your own "real world" and do some detective work about the LED bulb market in your area and relate those finding to the case. We'll finish the course with BCG pricing experts sharing their insights into what makes pricing such a rewarding field.

What's included

15 videos2 readings1 assignment3 discussion prompts

15 videos•Total 66 minutes
  • Assignment 4 Introduction•4 minutes•Preview module
  • Signaling Games•4 minutes
  • Extensive Form Signaling Games•7 minutes
  • Gas Wars and Takeaways•4 minutes
  • Competitor Pricing Models•3 minutes
  • Competitive Price Moves: Understand Competitive Dynamics•9 minutes
  • Competitive Price Moves: Assess Your Options•6 minutes
  • Competitive Price Moves: Choose and Execute Best Move•4 minutes
  • Price Wars•6 minutes
  • Assignment 4 Debrief•1 minute
  • The Three Lenses Across Industries•4 minutes
  • The Art and Science of Pricing•3 minutes
  • A Career in Pricing•3 minutes
  • Why I Love Pricing•3 minutes
  • Course Conclusion•0 minutes
2 readings•Total 40 minutes
  • Philips: Pricing the LED Bulb (B)•30 minutes
  • Week 4 Case Questions•10 minutes
1 assignment•Total 30 minutes
  • Responding to Competitor Moves•30 minutes
3 discussion prompts•Total 50 minutes
  • If Philips enters the B2C market...•10 minutes
  • What did you see in your local market?•10 minutes
  • Update your resume!•30 minutes

Earn a career certificate

Add this credential to your LinkedIn profile, resume, or CV. Share it on social media and in your performance review.

Instructors

Instructor ratings

Instructor ratings

We asked all learners to give feedback on our instructors based on the quality of their teaching style.

4.9 (17 ratings)
Jean Manuel Izaret
Jean Manuel Izaret
BCG
4 Courses•49,844 learners

Instructors

Instructor ratings

We asked all learners to give feedback on our instructors based on the quality of their teaching style.

4.9 (17 ratings)
Jean Manuel Izaret
Jean Manuel Izaret
BCG
4 Courses•49,844 learners
Ronald T. Wilcox
Ronald T. Wilcox
University of Virginia
4 Courses•49,844 learners
Thomas Kohler
Thomas Kohler
BCG
4 Courses•49,844 learners

Offered by

University of Virginia

Offered by

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

Offered by

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.

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