Enroll Course: https://www.coursera.org/learn/uva-darden-bcg-pricing-strategy-customer-value
Are you leaving money on the table with your current pricing strategy? If your approach is solely cost-based, the answer is likely yes. The “Customer Value in Pricing Strategy” course on Coursera, developed at the Darden School of Business, offers a transformative perspective. It moves beyond simply covering costs to maximizing revenue by understanding what your customers are truly willing to pay.
This course is a masterclass in value-based pricing. It begins by dissecting the concept of customer value and its crucial link to effective pricing. You’ll gain insights into consumer decision-making processes and why understanding willingness to pay (WTP) is paramount. The course even touches upon the nuances of pricing in developing economies, providing a broad and practical understanding.
Moving into implementation, the course equips you with practical tools like the price piano, price ladder, and incentive curves. It delves into customer value drivers in a B2B context and guides you through pricing a new product, even exploring the impact of price elasticity. The analytical rigor required for value-based pricing is thoroughly explained.
Measuring customer preferences is a cornerstone of this course. You’ll learn about powerful techniques such as surveys and conjoint analysis, even seeing a real-world example with Adios Junk Mail. Understanding how to measure WTP is presented as a critical step in refining your pricing strategy.
Perhaps the most compelling aspect is the final module, which dives into the psychology of pricing. It acknowledges that consumers aren’t always rational and explores mental accounting, price perceptions, and effective framing of deals and discounts. Case studies from the Portland Trailblazers and Fidelity Investments provide excellent opportunities to apply the learned concepts.
Overall, “Customer Value in Pricing Strategy” is an exceptional course for anyone involved in product management, marketing, or sales. It provides a robust framework and actionable tools to move from cost-plus pricing to a customer-centric, value-driven approach that can significantly boost your revenue. Highly recommended!
Enroll Course: https://www.coursera.org/learn/uva-darden-bcg-pricing-strategy-customer-value