Not available in 2020/21
MG4J3 Half Unit
Principles of Pricing
This information is for the 2020/21 session.
Teacher responsible
Teacher is TBC
Availability
This course is available on the CEMS Exchange, Global MSc in Management, Global MSc in Management (CEMS MiM), Global MSc in Management (MBA Exchange), MBA Exchange, MSc in Management (1 Year Programme), MSc in Management and Strategy and MSc in Management of Information Systems and Digital Innovation. This course is available with permission as an outside option to students on other programmes where regulations permit.
Course content
The content of the course is organised into two principal modules: (1) pricing strategy and fundamentals and (2) pricing tactics and implementation. The first module of the course covers the fundamental analytical tools, theories, and conceptual frameworks needed for price strategy formulation. Basic principles from marketing, economics, and psychology will be briefly reviewed and extended. The module provides an in-depth treatment of the role of price in the firm’s value proposition to the customer and the determination of customer response to price. The second module of the course covers pricing tactics and opportunities for achieving price customisation.
Teaching
30 hours of lectures in the LT.
Formative coursework
Students will be engaged in analysing a number of cases, doing numerical problems, as well as analysis data sets using the techniques learned in class. This will set the stage for their group project (gathering and analysing data) as well as the take-home assignment (which will involve numerical problems, case analysis, and analysing data sets).
Indicative reading
- The Strategy and Tactics of Pricing: A Guide to Growing More Profitably (2010): Nagle, Hogan, and Zale, Prentice Hall.
- Pricing Information: How to customize both the product and the price (1998): Carl Schapiro and Hal Varian, Harvard Business School Chapters.
- 'How to Fight a Price War' (2000): Akshay Rao, Mark Bergen, Scott Davis, Harvard Business Review.
- 'Is it time to rethink your pricing strategy?' (2012): Andreas Hinterhuber and Stephan Liozu, Sloan Management Review.
- 'Pricing as a Strategic Capability' (2002): Mark Bergen, Shantanu Dutta, Mark Ritson, Sloan Management Review
Assessment
Project (45%), coursework (45%) and class participation (10%) in the LT.
The coursework is an Individual Take-home assignment and the project will be in groups.
Important information in response to COVID-19
Please note that during 2020/21 academic year some variation to teaching and learning activities may be required to respond to changes in public health advice and/or to account for the situation of students in attendance on campus and those studying online during the early part of the academic year. For assessment, this may involve changes to mode of delivery and/or the format or weighting of assessments. Changes will only be made if required and students will be notified about any changes to teaching or assessment plans at the earliest opportunity.
Key facts
Department: Management
Total students 2019/20: 47
Average class size 2019/20: 54
Controlled access 2019/20: Yes
Value: Half Unit
Personal development skills
- Leadership
- Self-management
- Team working
- Problem solving
- Application of information skills
- Communication
- Application of numeracy skills
- Commercial awareness
