This class exists in these courses :
• IÉSEG > IESEG Degree - Programme Grande École > Semester 1 > 2,00 ECTS
• IÉSEG > IESEG Degree - Programme Grande École > Semester 2 > 2,00 ECTS

Prerequisites

none

Learning outcomes

At the end of the course, the student should be able to:
- The student should be able to calculate the price of a product based on different methods.
- They should also know which components to take into account to set a price (competition, value, cost, etc…).
- The student will be able to know how to communicate value and price to the consumers.

The main learning objectives addressed in this course therefore are: master the appropriate techniques and display expertise in their field; analyze and solve complex problems with the appropriate methodology; work with rigor, precision, and are well organized in a professional environment.

Course description

In the first chapter, students will learn how to set a price based on different techniques: cost-based pricing, competitor-based pricing, and value-based pricing. We will discuss which technique is most appropriate in which situation. Also, they will learn how to use choice-based conjoint analysis to set an optimal price. In a second chapter, the students will learn how to communicate the value of the product and the price that has been set by the company (e.g., psychological pricing, price lining, bundle pricing, etc.).

Class type

Class structure

Teaching methods

• Case study
• Coaching
• Interactive class
• Project work
• Research

Assessment

Assessment is based on a final group project (report) and in-class exercises (case study, exercises).

Recommended reading

• There is no compulsory text book; students receive a copy of the course slides; -

Internet resources

• IESEG Online