Pricing is a topic that, both in management practice and in a lot of marketing course curricula, typically receives little attention. When mentioned, it is usually without great enthusiasm. A lot of companies operate under the assumption that “we do not set prices; the market does”. Price setting then often is the result of an almost automatic process that seems to operate outside anyone’s real control. In other cases, price setting is the result of simplistic rules of thumb, based on inaccurate assumptions. This situation deprives many companies of important opportunities to increase the bottom line. Several studies by consulting agencies have shown that better pricing actually is the single most promising driver for profit.

Learning outcomes

The objective of the course is to provide participants with the necessary insights, skills and confidence to make superior pricing decisions. Strategic pricing management introduces frameworks, approaches, and ideas to solve the most pressing contemporary pricing problems. The course takes a multi-disciplinary approach, combining insights from marketing, economics and psychology. The selection criterion for the content is that all elements should be relevant for contemporary management practice. Interestingly, pricing is also an area in which there has been a lot of experimentation in the recent past with new approaches. The internet has fundamentally changed the way price is disseminated in the marketplace and also offers new opportunities for price setting.