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B2C Price Management

Course code
MKT607
Course type
MSc Course
Weekly Hours
2,5
ECTS
5
Term
FS 2021
Language
Englisch
Lecturers
Juniorprof. Dr. Anna-Karina Schmitz
Please note that exchange students obtain a higher number of credits in the BSc-program at WHU than listed here. For further information please contact directly the International Relations Office.

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 main part of the course structure follows the process-logic of price management. Price management as a process can be devided into four phases that are addressed in the lecture: (1) Strategy phase, (2) Analysis phase, (3) Decision phase, and (4) implementation phase.

Date Time
Tuesday, 12.01.2021 11:30 - 15:15
Monday, 18.01.2021 09:45 - 11:15
Tuesday, 26.01.2021 15:30 - 18:45
Friday, 29.01.2021 11:30 - 15:15
Tuesday, 02.02.2021 11:30 - 15:15
Friday, 12.02.2021 08:00 - 11:15
Tuesday, 23.02.2021 08:00 - 11:15
Friday, 26.02.2021 11:30 - 15:15
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. Participants have to deal with the challenges of price management in the course of classroom discussions, individual assignments, and a case study with group presentations of their solutions.
SUGGESTED READINGS (not compulsory)1. Simon, H./Fassnacht M. (2019): Price Management, 1st ed., Springer International Publishing.2. Simon, H./Fassnacht, M. (2016): Preismanagement, 4th ed., Wiesbaden: Gabler.3. Nagle, T.T./Müller, G. (2018): The Strategy and Tactics of Pricing: A Guide to Growing More Profitably, 6th ed., New York: Routledge.4. Simon, H. (2015): Preisheiten, 2nd ed., Frankfurt: Campus.5. Diller, H. (2008): Preispolitik, 4. ed., Stuttgart: Kohlhammer.6. Han, S./ Gupta, S./Lehmann, D. R. (2001): Consumer Price Sensitivity and Price Thresholds, in: Journal of Retailing, Vol. 77, No. 4, pp. 435-456.7. Kim, J-Y./Natter, M./Spann, M. (2009): Pay What You Want: A New Participative Pricing Mechanism, in: Journal of Marketing, Vol. 73, No. 1, pp. 44-58.8. Simonson, I./Drolet, A. (2004): Anchoring Effects on Consumers’ Willingness ‐ to ‐ Pay and Willingness ‐ to ‐ Accept, in: Journal of Consumer Research, Vol. 31, No. 3, pp. 681-690.9. Monroe, K. B. (2003): Pricing: making profitable decisions, 3rd ed., McGraw-Hill.10. Stremersch, S./Tellis, G. J. (2002): Strategic Bundling of Products and Prices: A New Synthesis for Marketing, in: Journal of Marketing, Vol. 66, No. 1, pp. 55-72.11. Stephenson, P. R./Cron, W. L./Frazier, G. L. (1979): Delegating Pricing Authority to the Sales Force: The Effects on Sales and Profit Performance, in:Journal of Marketing, Vol. 43, No. 2, pp. 21-28.12. Frenzen, H./Hansen, A. K./Krafft, M./Mantrala, M. K./Schmidt, S. (2010): Delegation of Pricing Authority to the Sales Force: An Agency-Theoretic Perspective of its Determinants and Impact on Performance, in: International Journal of Research in Marketing, Vol. 27, No. 1, pp. 58-68.13. Frohmann, F. (2018): Digitales Pricing. 1st ed., Wiesbaden: SpringerGabler.Further literature will be announced in the lecture.
Group presentation of case study (50%)
Individual written assignment (50%)
Basic marketing knowledge
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