Pricing Strategy

About this course

Pricing is one of the most important but least understood marketing decisions. Learn and practice concepts, techniques, and get to grips with the latest thinking on assessing and formulating pricing strategies. Analyze how firms attempt to capture value, as well as profits, in the revenues they earn. 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 former Dean of the Business School with over 20 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.

Course objectives

• equip professionals to formulate effective pricing strategies
• enable analysis of competitive pricing responses