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Selected Issues in Marketing III

Pricing

Lecture & Exercise (14266.0106)

            Instructor: Dr. Jan-Michael Becker
            Date: Fridays, October, 11th, 2019 - November, 29th, 2019
            Time: 10:00am - 11:30pm & 12:00pm - 1:30pm
            Location: -1.501 (Building: Sibille-Hartmann-Straße), more details see Klips

Content

The lecture on price management investigates the diverse and varied theoretical and practical problems of price management. In the first part of this lecture, we will examine the fundamental terms that define price management, the reasons behind the increasing importance of price, and the dominant parameters involved in determining prices. In the second part of the lecture, we will be discussing various methods for measuring price response. Knowledge of the price response (function) is crucial to the setting of prices and to determine optimal prices via marginal analysis. The third part of this lecture will deal with central aspects of behavioral pricing as a basis for determining customer response to prices. The fourth and fifth part of the lecture will investigate in detail the concepts and methods associated with the setting of prices (price strategies and heuristic approaches to setting prices as well as different forms of price differentiation and price bundling). Upon the availability of enough time, the sixth part of the lecture will give an outlook on several revenue models and pricing issues that change due to the digital transformation of business models.

Examination

The examination consists of a written exam of 60 minutes.

Examination Dates: 
1st exam 
Date: tba
Time: tba
Location: tba

2nd exam 
Date: tba
Time: tba
Location: tba

Please keep in mind that you need to register for the examination within the corresponding registration period. It is NOT possible to register after the registration period. Written exams can be answered either in German or in English. Note that no responsibility is taken for the correctness of the information. Please refer to the Examination Office for all examination-related questions.

Zum Bestehen der Veranstaltung muss eine 60-minütige schriftliche Prüfung abgelegt werden.

Prüfungsdaten: 
1. Termin: N.N.

2. Termin: N.N.

Bitte beachten Sie, dass Sie sich nur innerhalb der vorgegebenen Fristen für die Klausur anmelden können. Es ist NICHT möglich, sich nach Ablauf der Frist nachträglich anzumelden. Schriftliche Prüfungen können auf Englisch oder auf Deutsch abgelegt werden. Es wird keine Verantwortung für die Richtigkeit der Informationen übernommen. Bitte informieren Sie sich beim Prüfungsamt über alle klausurbedingten Fragen.

Learning Objectives

  • Understand the basic concepts and importance of pricing decisions for companies. 
  • Get to know the key drivers that need to be taken into account when setting prices.
  • Understand theoretical foundations of market response functions.
  • Understand how to elicit consumers’ preferences and willingness-to-pay.
  • Understand the optimality conditions of different pricing models.
  • Critically assess important methods to measure market response and willingness-to-pay.
  • Get to know important concepts of behavioral pricing theory.
  • Understand consumer’s processing of price information.
  • Get to know relevant strategic pricing decisions.
  • Understand price management as a dynamic decision problem.
  • Understand simple heuristics to determine (optimal) prices.
  • Get to know different forms of price differentiation and price bundling to increase profits.
  • Understand different business models to generate revenue and their pricing implications
  • Gain knowledge about trends and challenges in pricing due to the digital transformation of business models.