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COURSE DESCRIPTION

Analyzes the critical factors in making pricing decisions and presents a process for cost and pricing analysis. Reviews the concept of value creation and examines a variety of pricing policies and techniques that can be incorporated into a marketing strategy to achieve stated objectives. Examines pricing strategy over the life cycle of products.

INSTRUCTIONAL MATERIALS

Required Resources

Nagle, T. T., Hogan, J., & Zale, J. (2011). The strategy and tactics of pricing: a guide to growing more profitably (5th ed.). Upper Saddle River, NJ: Prentice Hall/ Pearson.

Supplemental Resources

Berry, L. L., & Yadav, M. S. (1996). Capture and communicate value in the pricing of services. Sloan Management Review, 37(4), 41-51.

Marn, M. V., Roegner, E. V., & Zawada, C. C. (2003). Pricing new products. The McKinsey Quarterly, (3), 40-49.

Nagle, T. T., & Cressman, G. E., Jr. (2002). Don’t just set prices, manage them. Marketing Management, 11(6), 29-33

Simon, H., & Dolan, R. J. (1998). Price customization. Marketing Management, 7(3), 11-17.

Smith, G. (1995). Managerial pricing orientation: The process of making pricing decisions. Pricing Strategy & Practice, 3(3), 28-39.

COURSE LEARNING OUTCOMES

1. Analyze the key elements of strategic pricing and the role of pricing decisions in marketing strategy. 2. Evaluate the impact assessing value has on pricing strategy and profitability, and the importance of market segmentation. 3. Analyze the application of various pricing strategies and tactics to develop and manage an overall pricing strategy for a company. 4. Evaluate the effectiveness of price and value communication strategies. 5. Assess and create pricing