In this Specialization, we show you techniques to increase price realization and maximize profits. Learn from Boston Consulting Group's global pricing experts and University of Virginia Darden School of Business faculty, who share the frameworks, tips and tools we use in our business and research environments. We will look at pricing through BCG's proprietary and time-tested three “lenses”—cost and economics, customer value, and competition—to build your understanding of the strategic power of pricing. You’ll leave the Specialization with a portfolio-building presentation that demonstrates your ability to price strategically.
Pricing Strategy Optimization Specialization
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Pricing Strategy Optimization Specialization
Set prices the way the experts do. Master pricing strategies used by global consulting and academic leaders.
Instructors: Jean Manuel Izaret
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Get in-depth knowledge of a subject
4.8
(773 reviews)
Beginner level
Recommended experience
1 month at 10 hours a week
Flexible schedule
Earn a career credential
Share your expertise with employers
Get in-depth knowledge of a subject
4.8
(773 reviews)
Beginner level
Recommended experience
1 month at 10 hours a week
Flexible schedule
Earn a career credential
Share your expertise with employers
What you'll learn
How to utilize the strategic power of pricing to set profit maximizing prices
Cost and economics in pricing strategy
How to leverage knowledge of customer value to develop a pricing strategy
Market and competitor pricing models that inform pricing decisions
Overview
Skills you'll gain
- Product Strategy
- Value Propositions
- Demand Planning
- Marketing Psychology
- Global Marketing
- Product Lifecycle Management
- Revenue Management
- Economics
- Customer Insights
- Target Market
- Cost Accounting
- Market Share
- Market Dynamics
- Consumer Behaviour
- Customer Analysis
- Price Negotiation
- Business Strategy
- Strategic Marketing
- Competitive Analysis
- Marketing
What’s included
Shareable certificate
Add to your LinkedIn profile
Taught in English
48 practice exercises
Advance your subject-matter expertise
- Learn in-demand skills from university and industry experts
- Master a subject or tool with hands-on projects
- Develop a deep understanding of key concepts
- Earn a career certificate from University of Virginia
Specialization - 4 course series
What you'll learn
How to apply knowledge of basic economics to make better pricing decisions
How to recognize opportunities for price discrimination and recommend strategies to maximize sales and profits
How to calculate three types of price elasticities to determine the impact of price on demand
How to analyze and apply different pricing models, including: cost-plus pricing, marginal cost-plus pricing, peak-load pricing, index-based pricing.
Skills you'll gain
Category: Regression Analysis
Category: Customer Analysis
Category: Demand Planning
Category: Strategic Marketing
Category: Market Dynamics
Category: Cost Accounting
Category: Cost Benefit Analysis
Category: Economics
Category: Statistical Methods
Category: Consumer Behaviour
Category: Revenue Management
Category: Marketing Channel
What you'll learn
Customer value applications in pricing products
How to leverage core value-based pricing techniques to inform pricing decisions
How to measure customer willingness to pay using models (surveys, conjoint analysis, other data)
Consumer psychology applications in setting prices beneficial to both consumers and sellers
Skills you'll gain
Category: Consumer Behaviour
Category: Customer Insights
Category: Value Propositions
Category: Marketing Psychology
Category: Customer Analysis
Category: Analysis
Category: Customer Demand Planning
Category: Revenue Management
Category: Competitive Analysis
Category: Behavioral Economics
Category: Market Dynamics
Category: Decision Making
Category: Global Marketing
Category: Market Research
What you'll learn
Market and competition applications in product pricing
How to utilize game theory to influence market pricing
How to leverage competitor pricing models and knowledge of the product lifecycle to price products
Strategies for price discrimination in competitive markets
Skills you'll gain
Category: Competitive Analysis
Category: Product Lifecycle Management
Category: Regulation and Legal Compliance
Category: Business Strategy
Category: Consumer Behaviour
Category: New Business Development
Category: Marketing
Category: Market Share
Category: Target Market
Category: Game Theory
Category: Market Dynamics
Category: Value Propositions
Category: Strategic Partnership
What you'll learn
How to use the three lenses to set an optimal strategic price to maximize revenue
How to approach a pricing case, glean information, and work through a complicated pricing decision
How to utilize tools and data to analyze and recommend a strategic response to a real world pricing situation
Skills you'll gain
Category: Consumer Behaviour
Category: Price Negotiation
Category: Business Economics
Category: Competitive Analysis
Category: Customer Analysis
Category: Cost Accounting
Category: Market Research
Category: Market Share
Category: Strategic Marketing
Category: Product Strategy
Category: Business Strategy
Category: Market Dynamics
Category: Value Propositions
Category: B2B Sales
Category: Presentations
Category: Market Analysis
Category: Revenue Management
Category: Analysis
Category: Microsoft PowerPoint
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Frequently asked questions
We recommend the following sequence: Economics of Pricing, Pricing to Customer Value, Market-based Pricing, Pricing Strategy Optimization. While you can take the first three courses simultaneously, we recommend taking the Pricing Strategy Optimization course last, since it draws on concepts from the three previous courses.
Our target learners have an interest in business and marketing. With an undergraduate or graduate degree, they are looking to advance in their career or deliver more value in their current role and might someday pursue an advanced business degree. They take initiative and are proactive in developing new skills and competencies to achieve career objectives, develop professionally and expand their knowledge bases.
Each course in the Specialization is organized into four weeks of content and assignments. You may take the four courses sequentially over the course of four months, or may take courses simultaneously to complete more quickly.
More questions
Financial aid available,