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Customer Value in Pricing Strategy
  • Level Foundation
  • المدة 15 ساعات hours
  • الطبع بواسطة University of Virginia
  • Offered by

عن

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. Developed at the Darden School of Business at the University of Virginia, and led by top-ranked 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. By the end of this course, you'll be able to... -- Apply knowledge of customer value to price products -- Leverage core value-based pricing techniques to inform pricing decisions -- Measure customer willingness to pay using models (surveys, conjoint analysis, other data) -- Use knowledge of consumer psychology to set prices beneficial to both consumers and sellers

الوحدات

Welcome to the Specialization! (optional for those who have already seen these videos)

    • 2 Videos
    • 1 Discussion
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1 Discussions

  • Where do you see examples of the three lenses at work?

2 Videos

  • Pricing Specialization Overview
  • Three Lenses

Welcome to the course!

    • 1 Videos
    • 3 Readings
    • 1 Discussion
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1 Discussions

  • Meet and Greet

1 Videos

  • Week 1 & Course Introduction

3 Readings

  • Course Overview & Requirements
  • Survey
  • Using Discussion Forums to Deepen Your Learning

Customer Value Basics

    • 5 Videos
    • 1 Assignment
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1 Assignment

  • Practice Quiz on Customer Value Basics

5 Videos

  • Consumer Decision Process: Involvement and Visibility
  • Mapping Purchase Processes
  • Customer Value and Value Drivers
  • Differentiating Customer Value by Customer Segment
  • Willingness to Pay and Demand Curves

Customer Value in Developing Economies

    • 4 Videos
    • 1 Discussion
    • 1 Assignment
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1 Assignment

  • Practice Quiz on Customer Value in Developing Economies

1 Discussions

  • Lessons from Unilever and Tata

4 Videos

  • Serving Consumers in Developing Economies
  • Story of Nano
  • Story of Ala
  • Pricing Strategies for Developing Economies

Pricing Fundamentals Takeaways

    • 1 Videos
    • 1 Assignment
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1 Assignment

  • Week 1 Understanding Customer Value Quiz

1 Videos

  • Week 1 Takeaways

Pricing to the Demand Curve

    • 6 Videos
    • 1 Assignment
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1 Assignment

  • Practice Quiz on Pricing to the Demand Curve

6 Videos

  • Week 2 Introduction
  • Price to Demand Curve
  • Application of Price to Demand Curve: Price Piano
  • Application of Price to Demand Curve: Price Ladder
  • Application of Price to Demand Curve: Incentive Curves
  • Customer Value Drivers in a B2B Context

Using Value-based Pricing for New Products

    • 2 Videos
    • 1 Assignment
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1 Assignment

  • Practice Quiz on Pricing New Products

2 Videos

  • Value-based Price Setting for a New Product: Steps 1&2
  • Value-based Price Setting for a New Product: Steps 3-5

Pricing at the Intersection of Economics and Customer Value

    • 2 Videos
    • 1 Assignment
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1 Assignment

  • Practice Quiz on Pricing Based on Economics and Customer Value

2 Videos

  • Price Elasticity: Intersection of Economics and Customer Value 1
  • Price Elasticity: Intersection of Economics and Customer Value 2

Takeaways

    • 1 Videos
    • 1 Assignment
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1 Assignment

  • Week 2 Implementing Value-based Pricing Quiz

1 Videos

  • Week 2 Takeaways

Obtaining Willingness to Pay from Surveys

    • 5 Videos
    • 1 Readings
    • 2 Assignment
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2 Assignment

  • Adios Junk Mail: Case Quiz
  • Practice Quiz on Obtaining WTP from Surveys

5 Videos

  • Week 3 Introduction & Overview of Methods to Assess WTP
  • Obtaining Willingness to Pay from Surveys
  • Interpreting Combined Survey Data
  • Case Intro: Adios Junk Mail
  • Case Debrief: Adios Junk Mail

1 Readings

  • Case: Adios Junk Mail

Obtaining Willingness to Pay from Conjoint Analysis

    • 9 Videos
    • 1 Assignment
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1 Assignment

  • Practice Quiz on Conjoint Analysis

9 Videos

  • Conjoint Analysis Applications
  • Why Conjoint?
  • Conjoint Analysis: Steps 1-3
  • Conjoint Analysis: Step 4 and Product Preferences
  • Attribute Trade-offs
  • Attribute Importances
  • Conjoint Analysis: Willingness to Pay
  • Conjoint Analysis: Other Ways to Interpret Data
  • Conjoint Analysis: Propensity Modeling

Takeaways

    • 1 Videos
    • 1 Assignment
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1 Assignment

  • Week 3 Measuring Customer Preferences Quiz

1 Videos

  • Week 3 Takeaways

Mental Accounting

    • 6 Videos
    • 1 Assignment
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1 Assignment

  • Practice Quiz on Mental Accounting

6 Videos

  • Week 4 Introduction
  • Mental Accounting and Price Perceptions
  • Money Is Not Money
  • What We Can Learn from Ginsu Knives
  • Integrating Losses
  • Minimizing Losses and Give a Win with a Loss

Consumer Price Perceptions

    • 4 Videos
    • 1 Assignment
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1 Assignment

  • Practice Quiz on Consumer Price Perceptions

4 Videos

  • Considering Consumer Price Perceptions: The Framing Effect
  • Gain and Loss Frames in Pricing
  • The Pain of Paying
  • Separate the Pain of Paying from Consumption

Mental Shortcuts that Affect Pricing

    • 3 Videos
    • 1 Assignment
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1 Assignment

  • Practice Quiz on Mental Shortcuts that Affect Pricing

3 Videos

  • Anchoring and Price Primacy
  • Visual Tricks, Free as a Special Price, and Hedonic Bundling
  • Price Decoy

Value-based Pricing Assignment

    • 1 Readings
    • 1 PeerReview
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1 Peer Review

  • Value-based Pricing

1 Readings

  • Case Debrief Videos

Takeaways

    • 2 Videos
    • 1 Assignment
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1 Assignment

  • Week 4 Consumer Psychology Quiz

2 Videos

  • Applying the Customer Value Lens: Subscription Pricing
  • Week 4 Takeaways & Course Wrap-up

Auto Summary

Unlock the secrets of value-based pricing with "Customer Value in Pricing Strategy," a foundational course in Sales & Marketing. Developed by the Darden School of Business and taught by top Darden faculty and BCG experts, this course delves into pricing products based on customer value and psychology. Over 900 minutes, learn to apply value-based techniques, measure willingness to pay, and optimize pricing strategies. Available through Coursera with Starter and Professional subscriptions, this course is ideal for professionals seeking to enhance revenue through strategic pricing.

Jean Manuel Izaret
Instructors

Jean Manuel Izaret

Thomas Kohler
Instructors

Thomas Kohler

Ronald T. Wilcox
Instructors

Ronald T. Wilcox