Enroll Course: https://www.coursera.org/learn/pricing-strategy
Pricing. It’s a word that strikes both fear and excitement into the hearts of business professionals. It’s the lever that directly impacts your bottom line, yet it’s often one of the most misunderstood aspects of marketing. That’s where Coursera’s “Pricing Strategy” course comes in, and let me tell you, it’s a game-changer.
This course dives deep into the crucial decisions surrounding pricing, equipping you with the knowledge and practical skills to assess and formulate effective strategies. The overview promises to help you “capture value, as well as profits,” and it absolutely delivers. From understanding the fundamental concepts like pricing psychology and price discrimination to grasping the nuances of customer willingness to pay and optimal pricing, this course covers it all.
The syllabus is meticulously structured, taking you on a comprehensive journey. We start with the **Demand Curve and Pricing**, establishing why pricing is paramount for profitability. Here, you’ll learn to execute cost, competition, and customer-based pricing, armed with an understanding of price elasticity and optimal price.
Next, the course tackles **Determining Willingness to Pay**. This module is gold. You’ll be introduced to four distinct methods – market data, experiments, expert surveys, and customer surveys – allowing you to pinpoint the optimal price point for your offerings.
Then comes the fascinating world of **Playing the Pricing Piano or Price Discrimination**. This section brilliantly unpacks how companies strategically set different prices for different products and customer segments. You’ll discover the significant revenue and profit potential behind price discrimination and learn how to implement it effectively.
Finally, the course delves into **Pricing Psychology**. This is where things get truly interesting. You’ll learn how to influence customer perception, enhance the perceived value of your products, and even mitigate the pain of paying. The inclusion of practical experiments with volunteer customers provides tangible insights into how price affects perception and how you can leverage this for greater sales, revenue, and profitability.
Overall, Coursera’s “Pricing Strategy” course is an invaluable resource for anyone involved in product management, marketing, sales, or entrepreneurship. It demystifies a complex topic, provides actionable frameworks, and empowers you to make smarter pricing decisions that drive business success. I highly recommend it!
Enroll Course: https://www.coursera.org/learn/pricing-strategy