B2C Price Management
Course code
MKT607
Course type
MSc Course
Weekly Hours
2,5
ECTS
5
Term
HS 2019
Language
Englisch
Lecturers
Prof. Dr. Martin Fassnacht
Please note that exchange students obtain a higher number of credits in the BSc-program at WHU than listed here. For further information please contact directly the International Relations Office.
Course content
The course covers the following topics:
- Foundations of price management
- Price strategy
- Pricing analysis
- Price decisions
- Implementation and monitoring
- Industry specific deep dive (FMCG-companies, retailers, service providers)
- Innovations in price management
Class dates
| Date | Time |
|---|---|
| Thursday, 07.11.2019 | 11:30 - 17:00 |
| Thursday, 14.11.2019 | 08:00 - 13:00 |
| Wednesday, 27.11.2019 | 08:00 - 13:00 |
| Friday, 29.11.2019 | 08:00 - 13:00 |
| Monday, 02.12.2019 | 13:45 - 18:45 |
Learning outcomes
The course enhances six categories of competences:
- factual knowledge (e.g., pricing terminology, characteristics of price management),
- management capacities (e.g., price as powerful marketing instrument),
- global knowledge (e.g., different industries, innovations, consumer insights),
- teamwork (e.g., case study),
- critical thinking (e.g., classroom discussions, development of solutions for the case study) and
- practical knowledge (e.g., guest lectures).
Literature
Literature:[1] Simon, H./Fassnacht, M. (2016): Preismanagement, 4th ed., Wiesbaden: Gabler.[2] Nagle, T.T./Hogan, J.E./Zale, J. (2011): The Strategy and Tactics of Pricing: A Guide to Growing More Profitably, 5th ed., New Jersey: Pearson Education.[3] Simon, H. (2013): Preisheiten, Frankfurt: Campus.[4] Diller, H. (2008): Preispolitik, 4. ed., Stuttgart: Kohlhammer.[5] Han, S./ Gupta, S./Lehmann, D. R. (2001): Consumer Price Sensitivity and Price Thresholds, in: Journal of Retailing, Vol. 77, No. 4, pp. 435-456. [6] Kim, J-Y./Natter, M./Spann, M. (2009): Pay What You Want: A New Participative Pricing Mechanism, in: Journal of Marketing, Vol. 73, No. 1, pp. 44-58.[7] Simonson, I./Drolet, A. (2004): Anchoring Effects on Consumers’ Willingness‐to‐Pay and Willingness‐to‐Accept, in: Journal of Consumer Research, Vol. 31, No. 3, pp. 681-690.[8] Monroe, K. B. (2003): Pricing: making profitable decisions, 3rd ed., McGraw-Hill.[9] Stremersch, S./Tellis, G. J. (2002): Strategic Bundling of Products and Prices: A New Synthesis for Marketing, in: Journal of Marketing, Vol. 66, No. 1, pp. 55-72.[10] Stephenson, P. R./Cron, W. L./Frazier, G. L. (1979): Delegating Pricing Authority to the Sales Force: The Effects on Sales and Profit Performance, in:Journal of Marketing, Vol. 43, No. 2, pp. 21-28. [11] Frenzen, H./Hansen, A. K./Krafft, M./Mantrala, M. K./Schmidt, S. (2010): Delegation of Pricing Authority to the Sales Force: An Agency-Theoretic Perspective of its Determinants and Impact on Performance, in: International Journal of Research in Marketing, Vol. 27, No. 1, pp. 58-68.Further Literature: Will be announced in the lecture.
Exam
Written exam
Requirements
Basic marketing knowledge