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About the Course
About the Course
The traditional approach to pricing based on costs works to pay the bills, but it leaves revenue on the table. You can, in fact, price your products in a way that increases sales--if you know what your customers are willing to pay and can leverage psychology to create better deal and discount plans. In this course, we'll show you how to price a product based on how your customers value it and the psychology behind their purchase decisions. Led by Darden faculty and Boston Consulting Group global pricing experts, this course provides an in-depth understanding of value-based pricing and how to use it to capture more revenue.
What I Learnt
What I Learnt
By the end of this course, I was able to...
--Apply knowledge of basic economics to make better pricing decisions
--Recognize opportunities for price discrimination—selling the same product at different prices to different buyers—and recommend strategies to maximize sales and profits
--Calculate three types of price elasticities to determine the impact of price on demand
--Analyze and apply different pricing models -Cost-plus pricing -Marginal cost-plus pricing -Peak-load pricing -Index-based pricing
--Evaluate the impact of channel intermediaries and customer lifetime value on pricing
Key Skills
Key Skills
Cost-Based Pricing
Channel and Direct-to-Consumer Pricing
Pricing Strategies
Price Discrimination
Price Elasticity Of Demand
Other Information
Other Information
Grade Achieved: 83.8%
Completed by Priyank Goyal at Monday, October 2, 2017 7:05 PM GMT
4 weeks of study; 2-4 hours/week; the last week there is a longer project to complete
Jean Manuel Izaret, Thomas Kohler & Ronald T. Wilcox
University of Virginia & BCG
Course URL: https://www.coursera.org/learn/uva-darden-bcg-pricing-strategy-cost-economics
Achievement URL: https://www.coursera.org/account/accomplishments/certificate/ULT95SJLPGCY
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