Get updates on Eligibility, Admission, Placements Fees Structure
Quick Facts
| Medium Of Instructions | Mode Of Learning | Mode Of Delivery |
|---|---|---|
| English | Self Study | Video and Text Based |
Course Overview
An excellent pricing plan gives the company a significant competitive edge. Learning how to execute a successful pricing plan is vital in a constantly linked corporate world where everyone wants a market share. The Pricing: Using Data to Improve Pricing Performance online course provides applicants with the knowledge and abilities needed to value new or current goods or services properly and effectively, with an emphasis on giving monetary advantages to the consumer.
According to an Accenture survey, 61% of customers feel that using sophisticated analytics might result in lower pricing. The Pricing: Using Data to Improve Pricing Performance training teaches how to use a data-driven research methodology, including survey methods, regression analysis, and conjoint analysis.
The Pricing: Using Data to Improve Pricing Performance syllabus identifies the limits of historical price data and develops strategies and standards to enable candidates to conduct a successful pricing plan for a variety of goods and sectors, allowing them to make a demonstrable influence on their business.
The Highlights
- Online learning
- Shareable certificate
- MIT offering
- Projects and assessments
- Course provider Getsmarter
- Self-paced learning
- Split option of payment
- Downloadable resources
- 6-8 hours per week
- 6 weeks duration
Programme Offerings
- online learning
- Case Studies
- Offline resources
- video lectures
- Self-paced learning
- quizzes
- Live polls
- Infographics.
Courses and Certificate Fees
| Certificate Availability | Certificate Providing Authority |
|---|---|
| yes | MIT Sloan School of Management, Cambridge |
Fee type | Fee amount in INR |
Pricing: Using Data to Improve Pricing Performance fees | Rs. 275,740 |
Installments pattern
| 1st installment | Required before: 2025-01-21 | Amount Due: ₹137,870.00 INR |
| 2nd installment | Required before: 2025-02-20 | Amount Due: ₹137,870.00 INR |
Eligibility Criteria
Certification Qualifying Details
To qualify for the Pricing: Using Data to Improve Pricing Performance certification, All online training modules, as well as course assignments, projects, and classwork, must be completed by students. Students are obliged to participate in class activities such as live polls, quizzes, questionnaires, and surveys. Students are graded based on a series of assignments, classroom activities, and projects. To be certified, all of the conditions defined in the coursebook must be met.
What you will learn
After the completion of Pricing: Using Data to Improve Pricing Performance online training, Candidates will learn about the analytical toolbox for creating a strong pricing strategy, as well as gain insight into the potential and limitations of data, to assist in reinventing price strategy. Candidates will gain the ability to assign financial value to a good or service based on consumer demand, allowing them to enhance their company's financial success. Learners will also gain decision-making abilities for pricing items in a variety of sectors, including training them to account for various variables in a complicated pricing marketplace.
Who it is for
- Entrepreneurs who are launching new goods, competing on pricing, or trying to increase the value they give to customers.
- Individuals who work hands-on in pricing models and want to gain practical knowledge.
- Entrepreneurs, sales managers, marketing managers, finance executives, product managers and analysts who want to expand their firm and boost sales through better deals.
Admission Details
To get admission in the Pricing: Using Data to Improve Pricing Performance online course, follow the step-by-step procedure:
Step 1. Follow the link given below to open the official course page (https://www.getsmarter.com/products/mit-sloan-pricing-using-data-to-improve-pricing-performance-online-program)
Step 2. Find the ‘Register Now’ button on the course webpage and click to continue the process of registration
Step 3. Tick mark the consent box and agree with the course provider’s terms and conditions
Step 4. Make an account by filling in personal details on the Getsmarter website
Step 5. Provide billing address and sponsor details if applicable
Step 6. Pay the amount of course fee and begin the online training
The Syllabus
- Define the role of Economic Value to the Customer (EVC) in determining pricing of a product
- Demonstrate how to use the seven steps of EVC
- Indicate the rationale behind the 50 percent discounting rule
- Discuss contexts where firms need to price below EVC
- Identify contexts when EVC is used as a pricing formula, guideline, and diagnostic
- Determine the appropriate use of EVC based on the context
- Describe the challenges of asking survey-based pricing questions
- Identify ineffective survey pricing techniques
- Explain the logic behind setting up monadic surveys
- Use monadic surveys to recreate demand curves to examine zones of indifference and pricing plateaus
- Articulate what conjoint analyses are used for, and when conjoint analysis is reliable
- Interpret conjoint data to put a dollar valuation on each of a product’s features
- Define price elasticity
- Explain how to use price elasticity for general pricing strategy
- Describe how price elasticity can affect pricing
- Determine a break-even point to either raise or lower prices
- Use monadic data to calculate price elasticities
- Show how calculating and recalculating price elasticities can be used to determine pricing
- Indicate the challenges of using historical pricing data
- Identify when a lack of variation is a challenge and how to resolve it
- Determine when confounds are a challenge and how to use regression analysis to solve them
- Show how firms can use field experiments to circumvent problems in historical data
- Articulate the drawbacks and pitfalls of field experiments for price testing
- Describe how the relationship between EVC and the demand curve leads to the charging of different prices
- Discuss the challenges of charging different prices for different customers
- Identify the requirements for product-based segmentation, and the product features that can be used to implement them
- Discuss the strategic vulnerability of product-based segmentation
- Determine why self-selection into prices and a sense of control leads to different products that charge people different prices
- Describe the four pricing quadrants firms typically find themselves in
- Determine which quadrant you are situated in
- Analyze what pricing techniques to use when pricing a new product, and when to use them
- Conclude what techniques to use when improving the pricing for an existing product
- Assess which pricing technique is best suited for various pricing contexts
Instructors
MIT Sloan School of Management, Cambridge Frequently Asked Questions (FAQ's)
The pricing of a commodity or service is the outcome of a complicated series of computations, study and knowledge, and risk-taking abilities is called pricing.
A pricing structure considers, segmentation, capacity to afford, economic conditions, competitor activities, input costs, and trade margins.
The 4 types of pricing strategies are bundle pricing, premium pricing, market penetration pricing and price skimming.
Pricing is the process of determining the amount of money that a manufacturer will get in return for services and commodities.