ELE 3903 Pricing decisions

ELE 3903 Pricing decisions

Course code: 
ELE 3903
Department: 
Marketing
Credits: 
7.5
Course coordinator: 
Ragnhild Silkoset
Course name in Norwegian: 
Prisbeslutninger
Product category: 
Bachelor
Portfolio: 
Bachelor - Programme Electives
Semester: 
2022 Autumn
Active status: 
Active
Level of study: 
Bachelor
Teaching language: 
Norwegian
Course type: 
One semester
Introduction

Price is the factor that most strongly affects companies' earnings. At the same time, companies lack employees with formal expertise on price decisions.

Competence on price decisions gives a competitive advantage in the job market because it is relevant for all types of companies and industries.

This course in pricing decisions guides students through a pricing process where they will analyze and develop a pricing strategy for a company of their choice. The industries they choose can range from entrepreneurs and start-ups, service and services, B2B, health and wellness, culture and creative actors, global markets, technology, e-commerce, the sharing economy, and environment and green products, to name a few. The work with price decisions gives students insight into tools needed to work analytically and systematically with price development in any company.

Learning outcomes - Knowledge

After completing the course, students should be able to develop a pricing strategy plan where, with the help of relevant theory and knowledge, taking into account different customer segments, product specifications and industry conditions.

Learning outcomes - Skills

After completing the course, students should be able to independently carry out a price analysis and include this in a complete price strategy plan.

General Competence

The course will raise awareness and develop students who show an understanding of the responsibility one has to avoid price manipulation or unethical behavior within price policy.

Course content
  • Objectives for the pricing strategy
  • VTC analyzes of pricing strategies
  • Conjoint analysis and Van-Westendrop-model
  • Variation in the willingness to pay based on the properties of the products
  • Variation in the willingness to pay based on customers' characteristics
  • Price wars
  • Price as a tool in the field of environment and sustainability
  • Price tactics, sales and discounts
  • Price calculations
  • Price manipulation and ethical pricing
  • E-commerce and pricing in digital markets
Teaching and learning activities

The course is completed with 40 course hours. Of these, 28 hours are lectures where the syllabus is reviewed. 12 hours are spent on data collection and Excel analyzes.

The course is evaluated with two elements. The first is a project assignment where the students have completed a complete price analysis for a company of their choice. The project assignment is solved individually or in groups of up to 5 students. The assessment counts for 100 % of the course grade.

The second element is a multimedia production where the students present the results from the project assignment. They can choose between podcast or video presentation. The assessment is passed / failed and counts for 0 % of the course grade, but must be passed.

Software: Excel

Software tools
Software defined under the section "Teaching and learning activities".
Qualifications

Higher Education Entrance Qualification

Disclaimer

Deviations in teaching and exams may occur if external conditions or unforeseen events call for this.

Required prerequisite knowledge

No specific prerequisites are required.

Exam categoryWeightInvigilationDurationGroupingComment exam
Exam category:
Submission
Form of assessment:
Written submission
Exam code:
ELE 39031
Grading scale:
ECTS
Grading rules:
Two examiners
Resit:
Examination when next scheduled course
100No1 Semester(s)Group/Individual (1 - 5)All exams must be passed to obtain a final grade in the course.
Exam category:
Submission
Form of assessment:
Multimedia production
Exam code:
ELE 39032
Grading scale:
Pass/fail
Grading rules:
Internal examiner
Resit:
Examination when next scheduled course
0No1 Semester(s)Group/Individual (1 - 5)All exams must be passed to obtain a final grade in the course.
Exams:
Exam category:Submission
Form of assessment:Written submission
Weight:100
Invigilation:No
Grouping (size):Group/Individual (1-5)
Duration:1 Semester(s)
Comment:All exams must be passed to obtain a final grade in the course.
Exam code:ELE 39031
Grading scale:ECTS
Resit:Examination when next scheduled course
Exam category:Submission
Form of assessment:Multimedia production
Weight:0
Invigilation:No
Grouping (size):Group/Individual (1-5)
Duration:1 Semester(s)
Comment:All exams must be passed to obtain a final grade in the course.
Exam code:ELE 39032
Grading scale:Pass/fail
Resit:Examination when next scheduled course
Type of Assessment: 
Ordinary examination
All exams must be passed to get a grade in this course.
Total weight: 
100
Student workload
ActivityDurationComment
Teaching
28 Hour(s)
Feedback activities and counselling
12 Hour(s)
Submission(s)
100 Hour(s)
Prepare for teaching
60 Hour(s)
Sum workload: 
200

A course of 1 ECTS credit corresponds to a workload of 26-30 hours. Therefore a course of 7,5 ECTS credit corresponds to a workload of at least 200 hours.