Enroll Course: https://www.coursera.org/learn/uva-darden-bcg-pricing-strategy-practice
In today’s competitive landscape, mastering pricing strategies is crucial for both startups and established businesses. That’s why I recently undertook the ‘Pricing Strategy in Practice’ course on Coursera, taught by renowned experts Ron Wilcox from Darden and Thomas Kohler from BCG. This project-centered course dives deep into the nuances of pricing through a real-world case study: Philips’ introduction of an eco-friendly light bulb.
### Course Overview
The course is structured around practical applications of pricing strategies, using three essential lenses: cost, customer value, and competition. This multifaceted approach allows learners to appreciate how these components interconnect in determining optimal pricing strategies in real business scenarios.
### Syllabus Highlights
**Week 1: Retail Market Dynamics**
The course kicks off with an understanding of the retail market dynamics surrounding Philips’ LED light bulb. You get to analyze the economic aspects of this innovative product while receiving valuable insights from BCG experts, who share their extensive industry experience. This foundational analysis is pivotal as it sets the stage for your subsequent work.
**Week 2: Customer Value and Conjoint Analysis**
Moving forward, the course delves into customer value assessment via conjoint analysis, a powerful tool that helps estimate price sensitivity among consumers and businesses. Guided by Ron and Thomas, you will learn to interpret the data and understand what customers value most in pricing.
**Week 3: Price Recommendation**
In the third week, all your learnings converge as you make a pricing recommendation for Philips’ product. You’ll articulate your analysis and conclusions through a well-structured slide deck that clearly communicates your thought process. This exercise reinforces the importance of presenting data in a compelling manner.
**Week 4: Curveball**
Finally, just like in the real world, you’ll tackle unexpected market shifts, including new competitors and regulations. This last week emphasizes the adaptive nature of pricing strategies and tests your ability to think critically under changing circumstances. To enrich your learning, you’ll also conduct field research on the LED bulb market in your area.
### Why You Should Enroll
‘Pricing Strategy in Practice’ equips you with real-world tools and frameworks that you can apply immediately in your professional context. With interactive lectures, expert insights, and hands-on analysis, the course prepares you not just to understand pricing strategies, but also to implement them effectively. If you’re looking to improve your business acumen or strengthen your marketing team’s capabilities, this course is a must.
Overall, the course is well-structured, engaging, and immensely valuable for anyone serious about diving into pricing strategies. I highly recommend it for professionals in marketing, entrepreneurship, or anyone who wants to deepen their understanding of pricing in a real business context.
Enroll Course: https://www.coursera.org/learn/uva-darden-bcg-pricing-strategy-practice