ELE 3903 Revenue Management

ELE 3903 Revenue Management

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: 
2023 Autumn
Active status: 
Active
Level of study: 
Bachelor
Teaching language: 
Norwegian
Course type: 
One semester
Introduction

Pricing decisions are one of the areas where managers lack sufficient competence and lack a clear strategy. Most leaders choose the competitors' price levels, or the CFO's cost-plus calculations. This means that the companies both lose income and the competitiveness. This course on pricing decisions gives students a thorough introduction to value-based pricing.

This pricing decision course combines academic content with practical implementation in interdisciplinary student groups.

The course leads the students through a price decision process where they must analyze and develop a price strategy for a company of their choice. The industries they choose can be everything from entrepreneurs and start-ups, service and services, B2B, health and wellness, culture and creative players, global markets, technology, online shopping, the sharing economy, and environment and green products, to name a few. The work with price decisions gives the students insight into the tools needed to work systematically, analytically and plan-wise with the price development in any company.

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

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 and revenue management
  • Price manipulation and ethical pricing
  • E-commerce and pricing in digital markets
Teaching and learning activities

The course is run as a flipped classroom divided into 40 course hours. Of these, 28 hours are discussion forums where the syllabus is exemplified through relevant cases. 12 hours are spent on data collection and Excel analyses. It is expected that the students meet prepared for classes by having watched selected films, listened to podcasts from the syllabus and watched interviews of resource persons from the business world.

The course is evaluated through a multimedia production and 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.  

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:
Internal examiner
Resit:
Examination when next scheduled course
100No1 Semester(s)Group/Individual (1 - 5)Project assignment up to 20 pages. Attachments are allowed.
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)
Exams:
Exam category:Submission
Form of assessment:Written submission
Weight:100
Invigilation:No
Grouping (size):Group/Individual (1-5)
Duration:1 Semester(s)
Comment:Project assignment up to 20 pages. Attachments are allowed.
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:
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
Seminar groups
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.