Product and Price Strategy
The aim of this course is to make students able to fulfill the role of a product manager in a company or an organization. The course is designed to provide an understanding of elements that affect the success of products in the market place and to make students able to develop strategies for successful pricing and product management. The goal of the course is to integrate knowledge of consumer behavior, products (product classification, product/brand portfolios, product life cycle, etc.) and pricing into developing viable product and pricing strategies.
- Product Management
- Market Planning
- Defining the Competitive Set
- Category Analysis
- Competitor Analysis
- Customer Analysis
- Repositioning of Products
- Product Development Strategy
- Economics & Psychology of Pricing
- Consumer Response to Price Change
- Price Segmentation
- Pricing Interrelated Products
- Interactive or Dynamic Pricing
- Developing the Product and Price Mix
Learning outcome knowledge
On completing the course, student should be able to
- develop different product and price strategies, and explain how these can influence a companies competitive advantage.
- explain the relevance of consumer behavior for product and pricing management.
- describe how to analyze the market to gain product relevant consumer insights.
- describe how different aspects of product choice and pricing impact consumers behavior and consequently affect choice of product and pricing strategies.
- Written exam: 30%
- Written assignment: 70%