20631 - PRICING ANALYTICS
Department of Marketing
DAVID MARIO DINO JARACH
Suggested background knowledge
Mission & Content Summary
MISSION
CONTENT SUMMARY
The contents of this course comprises theory, concepts and frameworks relevant to pricing, and empirical methodology and their applications to real-world datasets. The topics include but are not limited to:
- Strategic pricing reengineering;
- Price setting: cost, competition and demand (value-based pricing).
- Value-based pricing: Fishbein and conjoint analysis technicques.
- Price management according to time, space, client.
- Revenue management: from theory to practice.
- Digital pricing
- Subscription-based pricing, BNPL, AI Pricing
- A blueprint for a successful pricing strategy
Intended Learning Outcomes (ILO)
KNOWLEDGE AND UNDERSTANDING
By the end of the course, students will have learned:
- How to turn pricing into a strategic lever for a company's success
- How to run both price setting and price management, specifically building a revenue management software from scratch
- How to put latest insights in a correct pricing strategy
APPLYING KNOWLEDGE AND UNDERSTANDING
By the end of the course, students will have learned:
- How to correctly insert pricing in a company's perspective;
- How to measure the impact of pricing in terms of ROI;
- How to run a pricing exercise
Teaching methods
- Lectures
- Guest speaker's talks (in class or in distance)
- Practical Exercises
- Individual works / Assignments
- Collaborative Works / Assignments
DETAILS
The class sessions comprise lectures (60%) and in-class discussions, exercises and group working activities(40%).
- There will be sessions with guest speakers to complement the teaching by offering a chance to hear additional insights from managers. The goal of the discussions and exercises is to apply important pricing concepts and frameworks to different business contexts and to provide students with practices of making relevant pricing decisions based on both qualitative and quantitative data.
- There is 1 group assignment for this course: build your own pricing strategy for your start-up company
Assessment methods
Continuous assessment | Partial exams | General exam | |
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ATTENDING STUDENTS
- Group work: 30%
- Final Exam (Written): 70%
The group work will be essentially run during class hours and will be tutored by the instructor. The written exam includes questions referring to cases, talks and related concepts, models and tools presented and discussed in class.
Note: The exam for attending students is only available on the first two exam dates; after the second exam date, only the non-attending exam is available.
NOT ATTENDING STUDENTS
Final Exam (Written): 100%
The questions are aimed at verifying the ability to apply the knowledge students learned when studying the assigned textbook.
Teaching materials
ATTENDING STUDENTS
- All material discussed and distributed in class (slides, articles, hand-outs etc. will be available via Bboard).
NOT ATTENDING STUDENTS
- T. NAGLE, J. HOGAN, J. ZALE, The Strategy and Tactics of Pricing, 5th Edition [All chapters].
- Alternatively, T. NAGLE, G. Muller, The Strategy and Tactics of Pricing, 6th Edition