Ementorhub

What you'll learn

Know the pricing approach for a product or service and consider the pricing psychology effects on the perception of quality.

Learn how to make a price discrimination based on customer characteristics and using purchase quantity, bundling and product versioning.

Discover the willingness to pay or price response of customers using surveys, experiments and market data.

Calculate the price elasticity for a given product or service and find out which is its optimal price.

Skills you'll gain

Cost Accounting

Strategic Marketing

Price Negotiation

Market Dynamics

Product Strategy

Profit and Loss (P&L) Management

Customer Insights

Competitive Analysis

Customer Analysis

Business Marketing

Revenue Management

Consumer Behaviour

Market Research

Marketing Psychology

There are 4 modules in this course

Along this course, you will learn pricing strategy key concepts such as pricing psychology, price discrimination, willingness to pay of customers, optimal price and price elasticity. This course has an additional focus on pricing dynamics and the reaction to and by competitors, taking a highly pragmatic approach and one that is directly applicable to your day-to-day professional life. After this course, you will be able to contribute to the process of formulating pricing strategies for your own products and services, or those of your firm. Martin Boehm - IE Professor and Dean of the Business School with over 10 years experience - will guide you through four modules. We begin with the importance of pricing and how it ultimately can affect the bottom line. Then, we move on to methods to help you decide what is the optimal price for your product; and then price discrimination - should all your products follow the same pricing strategy or should you differentiate depending on the customer segment? Finally, we look at pricing psychology and how you can influence customers in order to drive the highest possible price for your product.

Determining Willingness to Pay

Playing the Pricing Piano or Price Discrimination

Pricing Psychology