Pricing Analytics and Strategy --- The 4 Ps of the marketing mix are - (1) the product, (2) its promotion, (3) its distribution, and (4) its pricing. The first three elements are a company's attempt to create value while the last is an attempt to capture some of that value. If effective product development, promotion and distribution sow the seeds of business success, effective pricing is the harvest. The contemporary business world is full of examples of companies that create great value for their customers yet fail to capture that value in their earnings. A common reason is their failure to integrate their value-creating activities with their pricing decisions.
The objectives of this course are: (1) To familiarize you with the concepts, theory and latest thinking bearing on the key issues in pricing, taking the perspective of the marketing manager. This will be done primarily through lectures, class discussions and assigned readings. (2) To provide you with an opportunity, through case analyses and problem solving, to apply concepts and theory to the solution of pricing problems in marketing settings. (3) A major component of the course is a group project where students choose a company/product and develop its pricing strategy. This is a very effective way to tie all the concepts of the class together and get a practical perspective on things.
Prior to Fall 2014, MKT 408 was offered as MKT 308.