| CODE | MRK3203 | ||||||||
| TITLE | Pricing Methods and Strategies | ||||||||
| UM LEVEL | 03 - Years 2, 3, 4 in Modular Undergraduate Course | ||||||||
| MQF LEVEL | 6 | ||||||||
| ECTS CREDITS | 4 | ||||||||
| DEPARTMENT | Marketing | ||||||||
| DESCRIPTION | The study-unit will be organised around the following topics: - The Strategic Pricing Pyramid; - The Role of Value in Pricing; - Price Structure; - Price and Value Communications; - Price Awareness and Sensitivity of Consumers; - Pricing Policy; - Price Setting Process; - The Role of Costs in Pricing; - Competition, Pricing Strategies and Tactics; - Pricing in Channels of Distribution; - Pricing over the Product Life Cycle; - Price and Value Measurement; - Pricing over the Internet; - The effects of the Internet on Pricing Strategy. Study-unit Aims: This study-unit introduces the participants to the elements of effective pricing strategy, provide a clear perception into how to create effective pricing processes, and identify the key hurdles to effective implementation of pricing policies. Learning Outcomes: 1. Knowledge & Understanding: By the end of the study-unit the student will be able to comprehend the relevance and role of pricing for businesses in various sectors and industries. Demonstrate an understanding of the importance of consumer price perceptions, changing expectations and pricing decision implications. The student will also learn about pricing policies, pricing strategies in the market, price setting and effects on competitive positioning. 2. Skills: By the end of the study-unit the student will be able to: - Acquire the skills to use pricing as a strategic business decision tool, as an integral part of the product/service marketing mix. - Assess the effects of pricing decisions/ price changes and implications for business, intermediaries etc. in competitively positioning / re-positioning a product or service on the market. Main Text/s and any supplementary readings: Core Textbook - Nagle, T.T. & Hogan, J.E., (2006), The Strategy and Tactics of Pricing, 4th Edt. New Jersey: Pearson Education, Inc. Additional Reading For students to apply course material to current issues and promoting critical evaluation and debate, regular review of Marketing Journals and publications is recommended. Suggested periodicals include European Journal of Marketing Journal of Marketing Journal of International Marketing Quarterly Review of Marketing |
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| STUDY-UNIT TYPE | Lecture | ||||||||
| METHOD OF ASSESSMENT |
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| LECTURER/S | Miriam Pocock |
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The University makes every effort to ensure that the published Courses Plans, Programmes of Study and Study-Unit information are complete and up-to-date at the time of publication. The University reserves the right to make changes in case errors are detected after publication.
The availability of optional units may be subject to timetabling constraints. Units not attracting a sufficient number of registrations may be withdrawn without notice. It should be noted that all the information in the description above applies to study-units available during the academic year 2023/4. It may be subject to change in subsequent years. |
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