Marketing and Public Relations
Designing and Deploying Revenue and Pricing Strategies in a Digital Economy
Long considered a pillar of Marketing¿s ¿4Ps¿, pricing has become a specialized discipline with significant analytics supporting sophisticated strategies and tactics. This course begins with a review of pricing strategies and approaches taken to capture value created through price metrics, price fences., etc. Students review traditional and emerging business and pricing models, analyzing how new digitally-enabled revenue opportunities e.g., freemium models, on-demand or subscription services, alongside shared and gig economy solutions, impact top-line and bottom-line growth. Students practice research and analytical methods to establish consumer¿s willingness to pay, calculate elasticity, and assess the tradeoffs consumers make. Students also examine how value and pricing decisions are communicated and reinforced in the marketplace through more traditional techniques of marketing and communications. Given the critical function of price in top-line revenue growth, students evaluate different approaches to enterprise-wide governance, implementation, and controls around pricing to ensure a more active role in pricing decisions.