APPLIES TO ACADEMIC YEAR 2015/2016
ELE 3775 Product and Price Strategy
Responsible for the course
Department of Marketing
According to study plan
Language of instruction
This course is designed to provide an understanding of elements that affect products in the market place so as to develop strategies for successful pricing and product management. The goal of the course is to make students integrate knowledge of consumer behavior, products (product classification, product/brand portfolios, product life cycle, etc.) and pricing into developing a viable product and pricing strategy.
On completing the course, student should have:
- Learned the relevance of consumer behavior for product and pricing management
- Gained understanding of how product classification based on consumer perceptions defines the competitive arena for a marketer and consequently affects market analyses
- Learned how different aspects of pricing are impacted by consumers’ behavior and consequently affects pricing strategies
Students should be able to
- classify products based on how the relevant market consumes it and identify the industry and competitive set to perform customer, industry, and competitor analyses
- assess the value of product(s) based on consumer perceptions and identify market segments based on that
- develop a product and pricing mix
- Students should be aware that a sustainable pricing and product management strategy takes into account social responsibility and ethical considerations
The course is based on the knowledge of marketing that the students have acquired from other marketing courses in their studies
Lehmann, Donald R., Russell S. Winer. 2005. Product management. 4th ed. McGraw-Hill/Irwin
Current newspaper and magazine articles handed out during the course or made available on Itslearning
Aaker, David A., Damien McLoughlin. 2010. Strategic market management : global perspectives. Wiley
- What is a Product?
- Consumer Behavior
- Defining the competitive set
- Category analysis
- Competitor Analysis
- Customer Analysis
- Repositioning Products
- Product Development
- Economics & Psychology of Pricing
- Consumer Response to Price Change
- Developing Price Segmentation
- Pricing Interrelated Products
- Interactive or Dynamic Pricing
- Developing the Product and Price Mix
Online simulation game. The simulation costs about 24 Euro per group.
Learning process and workload
The learning objectives of the course are accomplished with a combination of lectures, simulation, cases, group work, group presentations and feedback.
One group presentations during the semester and feedback on the presentations ensure progress on the term paper. Participation in lectures is crucial to the successful completion of the term paper.
The students' workload in hours:
Use of hours
|Preparation for lectures/reading literature||
|Preparation for presentations||
|Research, information gathering and analysis||
|Writing term paper||
|Total recommended use of hours||
Simulation assignment (will be over 3-4 days/max one week) in the middle of the semester and counts for 30 %. A term paper (will be due at the end of the semester) accounts for 70 % of the grade. Students work in groups of 1-3 students to complete the simulation assignment and the term paper.
ELE 37751 - Simulation assignments, counts for 30 % of the final grade in ELE 3775 Product and Price Strategy 7,5 credits.
ELE 37752 - Project paper, counts for 70 % of the final grade in ELE 3775 Product and Price Strategy 7,5 credits.
Examination support materials
All support materials are allowed for the simulation assignments and the term paper.
Examination support materials at written examiniations are explained under examination information in the student portal @BI. Please note use of calculator and dictionary. https://at.bi.no/EN/Pages/Exa_Hjelpemidler-til-eksamen.aspx
A re-sit will be possible in connection with the next scheduled course.
The simulation costs about 24 Euro per group.