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2022/2023  BA-BHAAV6094U  Applied Pricing Management: Behavior, Strategy, and Customer Value

English Title
Applied Pricing Management: Behavior, Strategy, and Customer Value

Course information
Language English
Course ECTS 7.5 ECTS
Type Elective
Level Bachelor
Duration One Quarter
Start time of the course First Quarter
Timetable Course schedule will be posted at calendar.cbs.dk
Max. participants 50
Study board
Study Board for BSc in Economics and Business Administration
Course coordinator
  • Sof Thrane - Department of Operations Management (OM)
The course will be taught by Assistant Professors Kai Inga Liehr Storm and PhD Fellow Wiktoria Ewa Salwa, and Nuuday Director & Head of Commercial Steering Martin Jarmatz.
Main academic disciplines
  • Managerial economics
  • Customer behaviour
  • Strategy
Teaching methods
  • Face-to-face teaching
Last updated on 15-08-2022

Relevant links
Learning objectives
The purpose of the course is to give students a theoretical and practical understanding of the fundamentals of pricing:
  • Knowledge of state-of-the-art pricing research.
  • Ability to apply pricing theory to real-life contexts, and to derive managerial implications from research findings.
  • Ability to critically discuss pricing from various perspectives such as managerial and behavioral economics, marketing and accounting theory.
Course prerequisites
None, but a good understanding of English, oral and written, is an advantage. Basic knowledge of marketing, sales and managerial economics is beneficial, but not a prerequisite.
Examination
Applied Pricing Management: Behavior, Strategy, and Customer Value:
Exam ECTS 7,5
Examination form Oral exam based on written product

In order to participate in the oral exam, the written product must be handed in before the oral exam; by the set deadline. The grade is based on an overall assessment of the written product and the individual oral performance, see also the rules about examination forms in the programme regulations.
Individual or group exam Individual oral exam based on written group product
Number of people in the group 2-3
Size of written product Max. 5 pages
It is possible to write the project individually without applying for exemption.
1 person may submit max. 3 pages.
Assignment type Synopsis
Duration
Written product to be submitted on specified date and time.
20 min. per student, including examiners' discussion of grade, and informing plus explaining the grade
Grading scale 7-point grading scale
Examiner(s) Internal examiner and second internal examiner
Exam period Autumn
Make-up exam/re-exam
Same examination form as the ordinary exam
Description of the exam procedure

The written synopsis should address a practical pricing management problem and discuss how different pricing theories conceptualise or analyse this problem. The oral exam is based on the synopsis and the curriculum and tests the comprehension and application of the theories used and the ability to reflect critically upon them.
Course content, structure and pedagogical approach

Pricing management is essential for firms’ profitability. Therefore pricing is at the top of the agenda in many firms and many devote considerable effort to their pricing strategies.

 

In this course, we apply pricing management tools to tackle and find solutions to three main pricing challenges. The first is to generate and analyze information about the customers, competitors and cost. The second is to control how prices are set and understand discounting behavior. The third is to coordinate pricing strategies between the different organizational functions involved, such as sales, marketing or accounting.

 

The course draws on the latest insights from psychological and behavioral research, marketing, accounting and managerial economics. Students acquire hands-on experience on the techniques of pricing, get an understanding of the organizational practices and processes, and apply models and theories to analyze the three pricing challenges. 

                                                                                                                            

Guest lecturers will illustrate the practical relevance of the course material. In previous years, we had presentations from head of pricing in different sectors ranging from global medical to local carbon offsetting through tree planting, as well as from senior consultants and partners of two well-known consultancy firms.

 
Description of the teaching methods
The course consists of 38 lecturing hours and contains both lectures and interactive workshops.

The course will require active class participation and contains group work, oral presentations and case-solving. The workshops are designed to give students regular feedback on their written synopsis, which they develop in groups throughout the course.
Feedback during the teaching period
The students will receive ongoing oral feedback from the teachers during interactive workshops and about their in-class presentations.

The student will receive written feedback from the teachers on the proposed topic of their synopsis.

The students will receive written feedback via Peergrade on their drafts of the written synopsis.

The students will also receive oral feedback from the teachers on their drafts of the written synopsis during the final synopsis workshop.
Student workload
Class and exam preparation 170 hours
Teaching 38 hours
Expected literature
  •  A selection of articles on state-of-the-art pricing research.

 

  • The course textbook:

 

Thomas Nagle & Georg Müller: “The Strategy and Tactics of Pricing”. 6th edition, Routledge international Edition, 2018, 345 pages, 9781292023236.

 

All required readings and all slidedecks from the lectures and the workshops are part of the curriculum. Links to selected articles from academic journals will be uploaded on Canvas in due time, latest one week before each lecture.
Last updated on 15-08-2022