À propos de ce cours
4.8
101 notes
15 avis
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. 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...
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Beginner Level

Niveau débutant

Clock

Approx. 17 hours to complete

Recommandé : 4 week so study, 2-4 hours/week...
Comment Dots

English

Sous-titres : English...
Globe

Cours en ligne à 100 %

Commencez dès maintenant et apprenez aux horaires qui vous conviennent.
Calendar

Dates limites flexibles

Réinitialisez les dates limites selon votre disponibilité.
Beginner Level

Niveau débutant

Clock

Approx. 17 hours to complete

Recommandé : 4 week so study, 2-4 hours/week...
Comment Dots

English

Sous-titres : English...

Programme du cours : ce que vous apprendrez dans ce cours

Week
1
Clock
3 heures pour terminer

Understanding Customer Value

Welcome to Week 1! We kick off the week with an overview of the course so that you'll know what to expect with an optional review of the specialization and three pricing lenses (watch these if you want a refresher). Then we'll dive into the content! This week, you'll learn about customer value--what it is and its relevance to pricing. You'll see how consumers make decisions--and why knowing consumers' willingness to pay is so important when setting a product's price. Next, we'll take a look at customer value in developing economies and how and why companies succeed (or not!) with value-based pricing in these markets. You'll finish the week with a solid understanding of "customer value" and how that impacts pricing strategy....
Reading
13 vidéos (Total 71 min), 3 lectures, 3 quiz
Video13 vidéos
Three Lenses4 min
Week 1 & Course Introduction2 min
Consumer Decision Process: Involvement and Visibility3 min
Mapping Purchase Processes10 min
Customer Value and Value Drivers5 min
Differentiating Customer Value by Customer Segment4 min
Willingness to Pay and Demand Curves8 min
Serving Consumers in Developing Economies8 min
Story of Nano8 min
Story of Ala9 min
Pricing Strategies for Developing Economies1 min
Week 1 Takeaways min
Reading3 lectures
Course Overview & Requirements10 min
Survey10 min
Using Discussion Forums to Deepen Your Learning10 min
Quiz3 exercices pour s'entraîner
Practice Quiz on Customer Value Basics21 min
Practice Quiz on Customer Value in Developing Economies12 min
Week 1 Understanding Customer Value Quiz30 min
Week
2
Clock
2 heures pour terminer

Implementing Value-based Pricing

Now that you have an understanding of customer value, let's dive into value-based pricing in greater depth. This week, we'll show you how to price to the demand curve using three tools: the price piano, the price ladder, and incentive curves. We'll take a look at customer value drivers in a B2B context and walk through a process to price a new product. Then Ron and Thomas will show you how price elasticity plays into value-based pricing. Implementing value-based pricing requires detailed analysis. Let's get started!...
Reading
11 vidéos (Total 62 min), 4 quiz
Video11 vidéos
Price to Demand Curve6 min
Application of Price to Demand Curve: Price Piano6 min
Application of Price to Demand Curve: Price Ladder6 min
Application of Price to Demand Curve: Incentive Curves4 min
Customer Value Drivers in a B2B Context3 min
Value-based Price Setting for a New Product: Steps 1&26 min
Value-based Price Setting for a New Product: Steps 3-510 min
Price Elasticity: Intersection of Economics and Customer Value 17 min
Price Elasticity: Intersection of Economics and Customer Value 26 min
Week 2 Takeaways min
Quiz4 exercices pour s'entraîner
Practice Quiz on Pricing to the Demand Curve18 min
Practice Quiz on Pricing New Products9 min
Practice Quiz on Pricing Based on Economics and Customer Value2 min
Week 2 Implementing Value-based Pricing Quiz36 min
Week
3
Clock
4 heures pour terminer

Measuring Customer Preferences

As you learned in Week 1, understanding customer willingness to pay (WTP) is critical for effective pricing. This week, we'll show you two ways to measure willingness to pay: surveys and conjoint analysis. You'll see how one company, Adios Junk Mail, used surveys to better understand WTP. Conjoint is a terrific tool, and we'll walk you through how it's used to determine product preferences and prices. You'll finish the week with a solid understanding of how to measure customer preferences and use this information in your pricing strategy....
Reading
15 vidéos (Total 67 min), 1 lecture, 4 quiz
Video15 vidéos
Obtaining Willingness to Pay from Surveys6 min
Interpreting Combined Survey Data6 min
Case Intro: Adios Junk Mail min
Case Debrief: Adios Junk Mail1 min
Conjoint Analysis Applications4 min
Why Conjoint?4 min
Conjoint Analysis: Steps 1-38 min
Conjoint Analysis: Step 4 and Product Preferences7 min
Attribute Trade-offs2 min
Attribute Importances4 min
Conjoint Analysis: Willingness to Pay5 min
Conjoint Analysis: Other Ways to Interpret Data3 min
Conjoint Analysis: Propensity Modeling7 min
Week 3 Takeaways1 min
Reading1 lecture
Case: Adios Junk Mail30 min
Quiz4 exercices pour s'entraîner
Adios Junk Mail: Case Quiz15 min
Practice Quiz on Obtaining WTP from Surveys12 min
Practice Quiz on Conjoint Analysis18 min
Week 3 Measuring Customer Preferences Quiz36 min
Week
4
Clock
5 heures pour terminer

Considering the Human Nature of Customers

Last week you considered pricing using a rational utility model. But humans are not always rational beings--and your pricing strategy needs to consider other behavioral drivers. We'll look at the psychology behind consumer purchase decisions and the mental accounting that impacts those decisions. Next we'll consider consumer price perceptions and ways to frame prices and create better deals and discount plans that work for both the consumer and the seller. Then, we'll take a look at two real-world cases, the Portland Trailblazers and Fidelity Investments so that you can practice using tools from throughout the course in a real-world case. You'll finish the course with fresh insights into value-based pricing and its applications....
Reading
15 vidéos (Total 78 min), 1 lecture, 5 quiz
Video15 vidéos
Mental Accounting and Price Perceptions6 min
Money Is Not Money4 min
What We Can Learn from Ginsu Knives6 min
Integrating Losses7 min
Minimizing Losses and Give a Win with a Loss6 min
Considering Consumer Price Perceptions: The Framing Effect4 min
Gain and Loss Frames in Pricing2 min
The Pain of Paying3 min
Separate the Pain of Paying from Consumption6 min
Anchoring and Price Primacy5 min
Visual Tricks, Free as a Special Price, and Hedonic Bundling9 min
Price Decoy6 min
Applying the Customer Value Lens: Subscription Pricing4 min
Week 4 Takeaways & Course Wrap-up1 min
Reading1 lecture
Case Debrief Videos10 min
Quiz4 exercices pour s'entraîner
Practice Quiz on Mental Accounting8 min
Practice Quiz on Consumer Price Perceptions9 min
Practice Quiz on Mental Shortcuts that Affect Pricing10 min
Week 4 Consumer Psychology Quiz30 min
4.8

Meilleurs avis

par VYFeb 19th 2018

The instructors use the real world scenarios in the simplest possible way to be understood , and tell you the to the point concepts involved in these business scenarios

par RSJun 5th 2017

Wonderful course! If I had some idea how to price regarding economic concepts - then this course gives me completely new very practical methodologies!

Enseignants

Jean Manuel Izaret

Senior Partner and Managing Director, Leader of BCG’s Global Pricing Practice

Thomas Kohler

Associate Director, Pricing
Marketing, Sales & Pricing Practice

Ronald T. Wilcox

NewMarket Corporation Professor of Business Administration & Senior Associate Dean for Degree Programs
Marketing

À propos de University of Virginia

A premier institution of higher education, The University of Virginia offers outstanding academics, world-class faculty, and an inspiring, supportive environment. Founded by Thomas Jefferson in 1819, the University is guided by his vision of discovery, innovation, and development of the full potential of students from all walks of life. Through these courses, global learners have an opportunity to study with renowned scholars and thought leaders....

À propos de BCG

The Boston Consulting Group (BCG) is a global management consulting firm and the world’s leading advisor on business strategy. We partner with clients from the private, public, and not-for-profit sectors in all regions to identify their highest-value opportunities, address their most critical challenges, and transform their enterprises. Our customized approach combines deep insight into the dynamics of companies and markets with close collaboration at all levels of the client organization. This ensures that our clients achieve sustainable competitive advantage, build more capable organizations, and secure lasting results. Founded in 1963, BCG is a private company with offices in more than 90 cities in 50 countries. For more information, please visit bcg.com....

À propos de la Spécialisation Pricing Strategy Optimization

In this Specialization, we show you techniques to increase price realization and maximize profits. Learn from The Boston Consulting Group's global pricing experts and University of Virginia Darden School of Business faculty, who share the frameworks, tips and tools we use in our business and research environments. We will look at pricing through BCG's proprietary and time-tested three “lenses”—cost and economics, customer value, and competition—to build your understanding of the strategic power of pricing. You’ll leave the Specialization with a portfolio-building presentation that demonstrates your ability to price strategically....
Pricing Strategy Optimization

Foire Aux Questions

  • Once you enroll for a Certificate, you’ll have access to all videos, quizzes, and programming assignments (if applicable). Peer review assignments can only be submitted and reviewed once your session has begun. If you choose to explore the course without purchasing, you may not be able to access certain assignments.

  • When you enroll in the course, you get access to all of the courses in the Specialization, and you earn a certificate when you complete the work. Your electronic Certificate will be added to your Accomplishments page - from there, you can print your Certificate or add it to your LinkedIn profile. If you only want to read and view the course content, you can audit the course for free.

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