About this course: In this project-centered course, Darden's Ron Wilcox and BCG's Thomas Kohler will walk you through a real-world case, from problem statement to detailed analyses. You'll use all three lenses (cost, customer value, and competition) to recommend an optimal price—and then adjust to market disruptions. Utilizing the concepts, tools and techniques taught in previous Specialization courses—from basic techniques of economics to knowledge of customer segments, willingness to pay, and customer decision making to analysis of market prices, share, and industry dynamics—you will practice setting profit maximizing prices to improve price realization. You'll finish the course with a portfolio-building project that demonstrates your pricing prowess.

Created by: University of Virginia, BCG

Taught by: Jean Manuel Izaret, Senior Partner and Managing Director, Leader of BCG’s Global Pricing Practice
Taught by: Ronald T. Wilcox, NewMarket Corporation Professor of Business Administration & Senior Associate Dean for Degree Programs
Marketing
Taught by: Thomas Kohler, Associate Director, Pricing
Marketing, Sales & Pricing Practice

Basic Info	Course 4 of 4 in the Pricing Strategy Optimization Specialization.
Level	Intermediate
Commitment	4 weeks of study, 4-6 hours/week
Language	English
How To Pass	Pass all graded assignments to complete the course.

Syllabus

WEEK 1

Retail Market Dynamics

Welcome to the course! We'll kick off the week with an overview of the project, which centers around Philips introduction of an eco-friendly light bulb. Once you've read the case, Thomas and Ron will guide you as you apply the cost lens to analyze the economic...

15 videos, 5 readings

Graded: Superbulb Economics

Graded: LED Price Considerations

Graded: Customer Economics

WEEK 2

Customer and Conjoint Analysis

This week, we will dig deeper into customer value using conjoint analysis to determine the price sensitivity of consumers and businesses. Thomas and Ron will show you how to graph the conjoint data to easily compare these two markets--and you'll do additional ...

8 videos, 1 reading

Graded: Learning about the Market Using Conjoint Analysis

Graded: Calculating WTP Using Conjoint

WEEK 3

Price Recommendation

This week, you will pull everything together to make a pricing recommendation for Philips. You will recommend which markets they should serve (B2B, B2C, or both) and how they should price their LED bulbs. You'll learn how to lay out your thought process and ra...

2 videos

Graded: Recommend a Strategy for Philips

WEEK 4

Curveball

This week, you will respond to new developments in the LED light bulb market: a new competitor and new regulations. Just like in real life, you'll need to adjust your strategy when the competitive landscape changes and new regulations emerge and reconsider the...

15 videos, 2 readings

Graded: Responding to Competitor Moves

FAQs

How It Works

Coursework

Each course is like an interactive textbook, featuring pre-recorded videos, quizzes and projects.

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Creators

University of Virginia

The University of Virginia is distinctive among institutions of higher education. Founded by Thomas Jefferson in 1819, and located on a World Heritage site in Charlottesville, the University sustains the ideal of developing, through education, leaders who are well-prepared to help shape the future of the nation. The University is public, while nourished by the strong support of its alumni. It is also selective; the students who come here have been chosen because they show the exceptional promise Jefferson envisioned.

BCG

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 85 offices in 48 countries. For more information, please visit bcg.com.

Pricing

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Pricing Strategy in Practice

Pricing Strategy in Practice

Pricing Strategy in Practice