PTMBA2024 Price Management

Pricing is the (only) one of the 4Ps generating turnover. Moreover, price is the strongest profit driver! It has direct impact on profits, direct impact on sales volume and indirect influence on fixed costs. Within the scope of price management, participants will get familiarized with the price management process and its four steps strategy phase, analysis phase, decision making phase and implementation phase.

The course covers the following topics:

• Foundations of price management
• Price strategy
• Pricing analysis
• Price decisions
• Implementation and monitoring
• Innovations in price management

Students participating in this course will gain advanced knowledge in price management, with a high emphasis on managerial and entrepreneurial practice. Theories and managing practices are supported by current examples that are embedded in the lecture and by high profile guest lectures that further provide practical examples to apply the learned theory to real life. Another focus lies on engaging the students’ critical thinking and problem-solving skills.

The course enhances the following categories of competences:

• factual knowledge(e.g., pricing terminology, characteristics of price management),
• management capacities(e.g., price as powerful marketing instrument),
• global knowledge(e.g., different industries, innovations, consumer insights),
• critical thinking(e.g., class discussions) and
• practical knowledge(e.g., guest lectures).

Suggestes readings (not compulsory):[1] Simon, H./Fassnacht, M. (2019):Price Management: Strategy, Analysis, Decision, Implementation (Englisch), 1st. Edition, Springer. [2] Nagle, T.T./Hogan, J.E./Zale, J. (2011): The Strategy and Tactics of Pricing: A Guide to Growing More Profitably, 5th ed., New Jersey: Pearson Education.Further literature: Will be announced during the lecture.

Guest Lectures (15%), Lecture (70%), Classroom Discussion (15%)

Grading:
100% Take Home Exam

100% Take Home Exam

Basic Marketing Knowledge

60