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.
Этот курс входит в специализацию ''Специализация Pricing Strategy Optimization'
Pricing Strategy in Practice
от партнера
University of Virginia
BCG
Об этом курсе
4.5
Оценки: 60
Чему вы научитесь
How to use the three lenses to set an optimal strategic price to maximize revenue
How to approach a pricing case, glean information, and work through a complicated pricing decision
How to utilize tools and data to analyze and recommend a strategic response to a real world pricing situation
Приобретаемые навыки
Competition (Economics)Conjoint AnalysisPricing StrategiesExecutive PresentationPricing Economics
Программа курса: что вы изучите
Неделя
1Retail 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 economics of the LED light bulb Philips has introduced to the market. After you've analyzed the economics of the case, Ron and Thomas will debrief to make sure you are on the right track. You will also hear from BCG pricing experts, who will share their lessons and tips gleaned from years of helping clients in multiple industries optimize their prices and improve the bottom line.
15 videos (Total 60 min), 5 материалов для самостоятельного изучения, 3 тестов
15 видео
Three Lenses4мин
Course Overview4мин
Developing the Three Lens Framework2мин
Using the Three Lenses8мин
Knowledge Is Not Enough3мин
Case Introduction1мин
Assignment 1 Introduction4мин
Review: Basic Metrics of Pricing: Margins and Markups5мин
Calculating Power Usage and Cost3мин
Assignment Debrief: Superbulb Failure3мин
Assignment Debrief: LED Price Considerations3мин
Assignment Debrief: Retailer Margin Justification5мин
Assignment Debrief: Customer Economics4мин
The Myth of the Invisible Hand2мин
5 материала для самостоятельного изучения
Course Overview & Requirements10мин
Survey10мин
Philips: Pricing the LED Bulb (A)10мин
Week 1 Case Questions10мин
Case-based Learning at Darden12мин
3 практического упражнения
Superbulb Economics20мин
LED Price Considerations20мин
Customer Economics20мин
Неделя
2Customer Value 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 analysis of the conjoint data to learn more about what consumers value. Using your analysis, you'll hone your pricing recommendation.
8 videos (Total 36 min), 1 материал для самостоятельного изучения, 2 тестов
8 видео
Conjoint Analysis: Steps 1 – 38мин
Conjoint Analysis: Step 4 and Product Preferences7мин
Attribute Trade-offs2мин
Attribute Importances4мин
Conjoint Analysis: Willingness to Pay5мин
Assignment Debrief: Learning about the Market Using Conjoint Analysis3мин
Assignment Debrief: Calculating WTP Using Conjoint3мин
1 материал для самостоятельного изучения
Week 2 Case Questions10мин
2 практического упражнения
Learning about the Market30мин
Calculating WTP Using Conjoint45мин
Неделя
3Price 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 rationale in a tightly edited slide deck that presents your recommendations in a compelling way.
2 videos (Total 8 min), 1 тест
Неделя
4Curveball
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 retail marketplace and reevaluate the B2B market. You'll also head out into your own "real world" and do some detective work about the LED bulb market in your area and relate those finding to the case. We'll finish the course with BCG pricing experts sharing their insights into what makes pricing such a rewarding field.
15 videos (Total 67 min), 2 материалов для самостоятельного изучения, 1 тест
15 видео
Signaling Games4мин
Extensive Form Signaling Games7мин
Gas Wars and Takeaways4мин
Competitor Pricing Models3мин
Competitive Price Moves: Understand Competitive Dynamics9мин
Competitive Price Moves: Assess Your Options6мин
Competitive Price Moves: Choose and Execute Best Move4мин
Price Wars6мин
Assignment 4 Debrief1мин
The Three Lenses Across Industries4мин
The Art and Science of Pricing3мин
A Career in Pricing3мин
Why I Love Pricing3мин
Course Conclusionмин
2 материала для самостоятельного изучения
Philips: Pricing the LED Bulb (B)30мин
Week 4 Case Questions10мин
1 практическое упражнение
Responding to Competitor Moves30мин
4.5
Рецензии: 9Лучшие рецензии
автор: UE•Jun 12th 2017
An excellent specialisation - I enjoyed every minute of it. Good teachers, well thought through material presented with some humour.
автор: OO•Jul 24th 2018
Very insightful course, I am very happy I came across this.
Преподавателя
Jean Manuel Izaret
Senior Partner and Managing Director, Leader of BCG’s Global Pricing Practice
Ronald T. Wilcox
NewMarket Corporation Professor of Business Administration & Senior Associate Dean for Degree ProgramsMarketing
Thomas Kohler
Associate Director, PricingMarketing, Sales & Pricing Practice
О University of Virginia
A premier institution of higher education, The University of Virginia offers outstanding academics, world-class faculty, and an inspiring, supportive environment. Founded by Thomas Jefferson in 1819, the University is guided by his vision of discovery, innovation, and development of the full potential of students from all walks of life. Through these courses, global learners have an opportunity to study with renowned scholars and thought leaders.
О BCG
Boston Consulting Group (BCG) is a global management consulting firm and the world’s leading advisor on business strategy.
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 offices in more than 90 cities in 50 countries. For more information, please visit bcg.com.
О специализации ''Pricing Strategy Optimization'
In this Specialization, we show you techniques to increase price realization and maximize profits. Learn from Boston Consulting Group's global pricing experts and University of Virginia Darden School of Business faculty, who share the frameworks, tips and tools we use in our business and research environments. We will look at pricing through BCG's proprietary and time-tested three “lenses”—cost and economics, customer value, and competition—to build your understanding of the strategic power of pricing. You’ll leave the Specialization with a portfolio-building presentation that demonstrates your ability to price strategically.
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