Revenue Management

Introduction

Pricing decisions are one of the areas where managers lack sufficient competence and lack a clear strategy. Most leaders choose the competitors' price levels, or the CFO's cost-plus calculations. This means that the companies both lose income and the competitiveness. This course on pricing decisions gives students a thorough introduction to value-based pricing.

This pricing decision course combines academic content with practical implementation in interdisciplinary student groups.

The course leads the students through a price decision process where they must analyze and develop a price strategy for a company of their choice. The industries they choose can be everything from entrepreneurs and start-ups, service and services, B2B, health and wellness, culture and creative players, global markets, technology, online shopping, the sharing economy, and environment and green products, to name a few. The work with price decisions gives the students insight into the tools needed to work systematically, analytically and plan-wise with the price development in any company.

Competence about price decisions gives a competitive advantage on the job market because it is relevant for all types of companies and industries.

Course content

• Objectives for the pricing strategy
• VTC analyzes of pricing strategies
• Conjoint analysis and Van-Westendrop-model
• Variation in the willingness to pay based on the properties of the products
• Variation in the willingness to pay based on customers' characteristics
• Price wars
• Price as a tool in the field of environment and sustainability
• Price tactics, sales and discounts
• Price calculations and revenue management
• Price manipulation and ethical pricing
• E-commerce and pricing in digital markets