Spring 2021  |  MKTG 6075 Section 070: Pricing Strategy (53928)

Instructor(s)
Class Component:
Lecture
Credits:
4 Credits
Grading Basis:
A-F only
Instructor Consent:
No Special Consent Required
Instruction Mode:
Completely Online
Class Attributes:
Online Course
Pre-Covid
Enrollment Requirements:
MBA student
Times and Locations:
Regular Academic Session
 
01/19/2021 - 05/03/2021
Off Campus
Virtual Rooms ONLINEONLY
Enrollment Status:
Closed (32 of 20 seats filled)
Also Offered:
Course Catalog Description:
Marketing begins and ends with the buyer. A marketing perspective on Pricing Strategy focuses on the study of delivering value to buyers in a manner that exceeds the value proposition of marketplace rivals, using both internal and external resources. The purpose of this course is to present a framework that can help you handle these pricing challenges. From determining consumer needs to assuring customer satisfaction, a clear understanding of buyer behavior is critical to the successful formulation and implementation of pricing strategy. The profitability of Pricing strategies that account for the competitive environment and the role of collaborators whose interests are aligned with that of the organization are an integral over-arching umbrella that informs the course. This course is designed to provide prospective managers the intellectual tools necessary to design actionable pricing strategies. There will be a strong emphasis on managerial action, and multiple theoretical perspectives will be discussed. prereq: MBA 6210, MBA student
Class Notes:
http://classinfo.umn.edu/?MKTG6075+spring2021
Class Description:
"Most executives name pricing as their major challenge and their major weakness" (Kotler)
"For marketing strategist, [pricing] is the moment of truth - all of marketing comes to focus on the pricing decision" (Corey)
The purpose of this course is to present a framework that can help you handle these pricing challenges, or moments of truth, more effectively throughout your business career. The course provides a customer perspective - we study such issues as economic value, price sensitivity, price perceptions, and fairness. From a company perspective we study such issues as costs, profitability and capabilities. From a competitive perspective we study such issues as price wars and price leadership. We also discuss the role of collaborators, such as channels of distribution, government and the media. Along the way we'll study pricing in a variety of settings, including business-to-business markets, consumer packaged goods, medical industry, services, new products, etc. Throughout we'll learn and apply marketing theory, and try to have some fun.
Who Should Take This Class?:
This course is reserved for MBA students. If you are a non-MBA student seeking to take this course, fill out the petition form found at goo.gl/9Y9PR5. Additional information, including petition deadlines, can be found at http://carlsonschool.umn.edu/degrees/master-business-administration/part-time-mba/admissions/mba-course-petition-form
Learning Objectives:
Participants will demonstrate their ability to apply tools like customer economic value, price sensitivity analysis, profitability analyses, and competitive analysis through exercises and cases.
Participants will demonstrate their ability to communicate their ability to make price decisions by engaging in class discussions of exercises and cases.
Participants will demonstrate their ability to synthesize and apply their understanding of pricing by diagnosing a number of pricing exercises and case studies using concepts developed in class related to costs, value, competitors and channels to make concrete qualitative and quantitative recommendations
Textbooks:
https://bookstores.umn.edu/course-lookup/53928/1213
Instructor Supplied Information Last Updated:
8 February 2017

ClassInfo Links - Spring 2021 Marketing Classes

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