1. CLO 1: Basic Pricing Frameworks You will know basic overview of the demand and cost functions applicable to pricing analysis, including demand, elasticity and revenue functions. We understand customer value theories, economic price optimization as well as the basic principles of pricing strategies.
2. CLO 2: Pricing strategies, policies and tactics We will discuss the various aspects of setting price levels, implementation of pricing policies and structures and optimizing pricing strategies. Therefore, you will learn price customization, segment pricing, bundling, portfolio pricing, product line and life-cycle pricing are some of the concepts covered. You will learn the concepts of customer life-time value, non-linear and dynamic pricing. We will know the role of promotions and incentives to achieve pricing objectives.
3. CLO 3: The psychology, measurement and communication of pricing Pricing strategies and measures are not designed in a vacuum, and their effectiveness is largely dependent on a deep understanding of consumer motivation and behavior. It is essential to measure and anticipate consumer response to pricing actions, which to a large degree depend on the effectiveness of pricing communication. This course will make you confident on effective price communication.
4. CLO 4: Pricing challenges/opportunities in particular industries and market characteristics Market is dynamic and it differs from country to country and different economic systems and conditions. You will be able to understand industry and market specific challenges and solutions.
5. CLO 5: Pricing innovation Technology and the ability to manage large amounts of data have enabled innovation in pricing models, and in many instances shifted the pricing power away from sellers to buyers. Examples discussed will include various auction models, bid structures, dynamic yield and revenue management tools and price optimization.
6. CLO 6 Managerial concerns and organizational requirements Effective pricing requires a formalized process and an understanding and anticipation of competitive response mechanisms. Organizations that embrace and excel at pricing have instituted skilled pricing organizations and pricing processes. Lastly, we will cover ethical and legal considerations that are important in making pricing decisions.