Enroll Course: https://www.coursera.org/learn/uva-darden-bcg-pricing-strategy-practice
In today’s competitive market, understanding how to price products effectively can make or break a business. That’s why I was excited to dive into the ‘Pricing Strategy in Practice’ course offered on Coursera, taught by Darden’s Ron Wilcox and BCG’s Thomas Kohler. This project-centered course provides a hands-on approach to learning about pricing strategies through a real-world case study involving Philips’ introduction of an eco-friendly light bulb.
The course is structured around four key modules, each designed to build upon the last, ensuring a comprehensive understanding of pricing dynamics.
**Retail Market Dynamics** kicks off the course with an overview of the project. Here, you’ll analyze the economics of Philips’ LED light bulb using the cost lens. The insights from BCG pricing experts add a layer of real-world experience, making the theoretical concepts more tangible.
In the second module, **Customer Value and Conjoint Analysis**, you’ll delve into customer value by employing conjoint analysis to gauge price sensitivity. This week is particularly enlightening as you learn to visualize and interpret data, honing your pricing recommendations based on consumer preferences.
The third module, **Price Recommendation**, is where everything comes together. You’ll synthesize your analyses to recommend pricing strategies for Philips, considering both B2B and B2C markets. The emphasis on creating a compelling slide deck to present your recommendations is a fantastic skill that will serve you well in any business environment.
Finally, the **Curveball** module introduces unexpected market changes, such as new competitors and regulations. This real-life scenario forces you to adapt your strategy, mirroring the challenges faced by businesses today. The course wraps up with insights from BCG experts, reinforcing the rewarding nature of a career in pricing strategy.
Overall, ‘Pricing Strategy in Practice’ is an invaluable course for anyone looking to deepen their understanding of pricing dynamics. The blend of theoretical knowledge and practical application makes it a must-take for marketing professionals, entrepreneurs, and anyone involved in product management. I highly recommend this course to anyone eager to enhance their pricing strategy skills and make informed decisions in their business endeavors.
Enroll Course: https://www.coursera.org/learn/uva-darden-bcg-pricing-strategy-practice