About this Course
4.5
60 ratings
9 reviews
Specialization
100% online

100% online

Start instantly and learn at your own schedule.
Flexible deadlines

Flexible deadlines

Reset deadlines in accordance to your schedule.
Intermediate Level

Intermediate Level

Some familiarity with business is helpful, but not required.

Hours to complete

Approx. 10 hours to complete

Suggested: 4 weeks of study, 3-5 hours/week...
Available languages

English

Subtitles: English...

What you will learn

  • Check

    How to use the three lenses to set an optimal strategic price to maximize revenue

  • Check

    How to approach a pricing case, glean information, and work through a complicated pricing decision

  • Check

    How to utilize tools and data to analyze and recommend a strategic response to a real world pricing situation

Skills you will gain

Competition (Economics)Conjoint AnalysisPricing StrategiesExecutive PresentationPricing Economics
Specialization
100% online

100% online

Start instantly and learn at your own schedule.
Flexible deadlines

Flexible deadlines

Reset deadlines in accordance to your schedule.
Intermediate Level

Intermediate Level

Some familiarity with business is helpful, but not required.

Hours to complete

Approx. 10 hours to complete

Suggested: 4 weeks of study, 3-5 hours/week...
Available languages

English

Subtitles: English...

Syllabus - What you will learn from this course

Week
1
Hours to complete
3 hours to complete

Retail Market Dynamics

Welcome to the course! We'll kick off the week with an overview of the project, which centers around Philips introduction of an eco-friendly light bulb. Once you've read the case, Thomas and Ron will guide you as you apply the cost lens to analyze the economics of the LED light bulb Philips has introduced to the market. After you've analyzed the economics of the case, Ron and Thomas will debrief to make sure you are on the right track. You will also hear from BCG pricing experts, who will share their lessons and tips gleaned from years of helping clients in multiple industries optimize their prices and improve the bottom line. ...
Reading
15 videos (Total 60 min), 5 readings, 3 quizzes
Video15 videos
Three Lenses4m
Course Overview4m
Developing the Three Lens Framework2m
Using the Three Lenses8m
Knowledge Is Not Enough3m
Case Introduction1m
Assignment 1 Introduction4m
Review: Basic Metrics of Pricing: Margins and Markups5m
Calculating Power Usage and Cost3m
Assignment Debrief: Superbulb Failure3m
Assignment Debrief: LED Price Considerations3m
Assignment Debrief: Retailer Margin Justification5m
Assignment Debrief: Customer Economics4m
The Myth of the Invisible Hand2m
Reading5 readings
Course Overview & Requirements10m
Survey10m
Philips: Pricing the LED Bulb (A)10m
Week 1 Case Questions10m
Case-based Learning at Darden12m
Quiz3 practice exercises
Superbulb Economics20m
LED Price Considerations20m
Customer Economics20m
Week
2
Hours to complete
2 hours to complete

Customer Value and Conjoint Analysis

This week, we will dig deeper into customer value using conjoint analysis to determine the price sensitivity of consumers and businesses. Thomas and Ron will show you how to graph the conjoint data to easily compare these two markets--and you'll do additional analysis of the conjoint data to learn more about what consumers value. Using your analysis, you'll hone your pricing recommendation....
Reading
8 videos (Total 36 min), 1 reading, 2 quizzes
Video8 videos
Conjoint Analysis: Steps 1 – 38m
Conjoint Analysis: Step 4 and Product Preferences7m
Attribute Trade-offs2m
Attribute Importances4m
Conjoint Analysis: Willingness to Pay5m
Assignment Debrief: Learning about the Market Using Conjoint Analysis3m
Assignment Debrief: Calculating WTP Using Conjoint3m
Reading1 reading
Week 2 Case Questions10m
Quiz2 practice exercises
Learning about the Market30m
Calculating WTP Using Conjoint45m
Week
3
Hours to complete
5 hours to complete

Price Recommendation

This week, you will pull everything together to make a pricing recommendation for Philips. You will recommend which markets they should serve (B2B, B2C, or both) and how they should price their LED bulbs. You'll learn how to lay out your thought process and rationale in a tightly edited slide deck that presents your recommendations in a compelling way....
Reading
2 videos (Total 8 min), 1 quiz
Video2 videos
Assignment 3 Debrief1m
Week
4
Hours to complete
3 hours to complete

Curveball

This week, you will respond to new developments in the LED light bulb market: a new competitor and new regulations. Just like in real life, you'll need to adjust your strategy when the competitive landscape changes and new regulations emerge and reconsider the retail marketplace and reevaluate the B2B market. You'll also head out into your own "real world" and do some detective work about the LED bulb market in your area and relate those finding to the case. We'll finish the course with BCG pricing experts sharing their insights into what makes pricing such a rewarding field. ...
Reading
15 videos (Total 67 min), 2 readings, 1 quiz
Video15 videos
Signaling Games4m
Extensive Form Signaling Games7m
Gas Wars and Takeaways4m
Competitor Pricing Models3m
Competitive Price Moves: Understand Competitive Dynamics9m
Competitive Price Moves: Assess Your Options6m
Competitive Price Moves: Choose and Execute Best Move4m
Price Wars6m
Assignment 4 Debrief1m
The Three Lenses Across Industries4m
The Art and Science of Pricing3m
A Career in Pricing3m
Why I Love Pricing3m
Course Conclusionm
Reading2 readings
Philips: Pricing the LED Bulb (B)30m
Week 4 Case Questions10m
Quiz1 practice exercise
Responding to Competitor Moves30m
4.5
9 ReviewsChevron Right

Top Reviews

By UEJun 12th 2017

An excellent specialisation - I enjoyed every minute of it. Good teachers, well thought through material presented with some humour.

By OOJul 24th 2018

Very insightful course, I am very happy I came across this.

Instructors

Avatar

Jean Manuel Izaret

Senior Partner and Managing Director, Leader of BCG’s Global Pricing Practice
Avatar

Ronald T. Wilcox

NewMarket Corporation Professor of Business Administration & Senior Associate Dean for Degree Programs
Marketing
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Thomas Kohler

Associate Director, Pricing
Marketing, Sales & Pricing Practice

About University of Virginia

A premier institution of higher education, The University of Virginia offers outstanding academics, world-class faculty, and an inspiring, supportive environment. Founded by Thomas Jefferson in 1819, the University is guided by his vision of discovery, innovation, and development of the full potential of students from all walks of life. Through these courses, global learners have an opportunity to study with renowned scholars and thought leaders....

About BCG

The Boston Consulting Group (BCG) is a global management consulting firm and the world’s leading advisor on business strategy. We partner with clients from the private, public, and not-for-profit sectors in all regions to identify their highest-value opportunities, address their most critical challenges, and transform their enterprises. Our customized approach combines deep insight into the dynamics of companies and markets with close collaboration at all levels of the client organization. This ensures that our clients achieve sustainable competitive advantage, build more capable organizations, and secure lasting results. Founded in 1963, BCG is a private company with offices in more than 90 cities in 50 countries. For more information, please visit bcg.com....

About the Pricing Strategy Optimization Specialization

In this Specialization, we show you techniques to increase price realization and maximize profits. Learn from The 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

Frequently Asked Questions

  • Once you enroll for a Certificate, you’ll have access to all videos, quizzes, and programming assignments (if applicable). Peer review assignments can only be submitted and reviewed once your session has begun. If you choose to explore the course without purchasing, you may not be able to access certain assignments.

  • When you enroll in the course, you get access to all of the courses in the Specialization, and you earn a certificate when you complete the work. Your electronic Certificate will be added to your Accomplishments page - from there, you can print your Certificate or add it to your LinkedIn profile. If you only want to read and view the course content, you can audit the course for free.

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