If you haven’t considered what the competition is charging, you may not be maximizing your revenue. Spend time analyzing the market and you can influence price and improve margins. In this course, we'll show you how to implement competitive pricing and avoid common legal pitfalls of market-based pricing. You will also learn how to predict, influence and respond to competitors’ pricing moves. Led by Darden faculty and Boston Consulting Group global pricing experts, this course provides an in-depth understanding of market-based pricing and how to use it to capture more revenue.
Introduction to Game Theory
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From the course by University of Virginia
Market and Competition in Pricing Strategy
University of Virginia
Course 3 of 4 in the Specialization Pricing Strategy Optimization
From the lesson
Predicting Competitive Reactions
Now that you know more about the playing field, let's take a look at how to predict competitive reactions. Thomas will show you value mapping, a tool that yields valuable insights into the value-price relationship relative to your competitors, and how to apply it in a real-world example. Then you'll dive into game theory, a field with many applications. Here, you'll use it anticipate and respond to price competition so that you can cooperate and compete without colluding.
Meet the Instructors
Jean Manuel IzaretSenior Partner and Managing Director, Leader of BCG’s Global Pricing Practice
Ronald T. WilcoxNewMarket Corporation Professor of Business Administration & Senior Associate Dean for Degree Programs
Marketing
Thomas KohlerAssociate Director, Pricing
Marketing, Sales & Pricing Practice
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