The purpose of this course is to present a framework for assessing pricing decisions, the central element of marketing. The course is structured around marketing's three C's: Costs; Customers; and Competitors. In the first part of the course we discuss how costs should, and should not, enter the pricing decision. We move on to show how a marketing focus on the customer provides insight into the pricing decision. Then we discuss how competitors impact the pricing decision. The course concludes with pricing strategies, tactics and their applications: dynamic pricing over the product life cycle, product line pricing through the marketing channel, price bundling and legal aspects of pricing.
Lecture: 100min/wk and Recitation: 50min/wk