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ELE 3775 Product and Price Strategy

ELE 3775 Product and Price Strategy

Course code: 
ELE 3775
Department: 
Marketing
Credits: 
7.5
Course coordinator: 
Nina Veflen
Product category: 
Bachelor
Portfolio: 
Bachelor - Electives
Semester: 
2019 Autumn
Active status: 
Active
Teaching language: 
English
Course type: 
One semester
Introduction

The aim of this course is to make students able to take an active role in developing new products and setting a price on these. The course is designed to provide an understanding of elements that affect the success of products in the market place and to make students able to develop strategies for successful pricing and product management. The goal of the course is to integrate knowledge of consumer behavior, products and pricing into developing  viable product and pricing strategies.

 

Learning outcomes - Knowledge

On completing the course, student should be able to

  • develop different product and price strategies for new products, and explain how these can influence a companies competitive advantage.
  • explain the relevance of consumer behavior for product and pricing management.
  • describe how to analyze the market to gain product relevant consumer insights.
  • describe how different aspects of product choice and pricing  impact consumers’ behavior and consequently affect choice of product and pricing strategies.

 

Learning outcomes - Skills

Students should be able to

  • plan a product development process.
  • structure and conduct a creative session for idea generation
  • describe product concepts and plan concept testing.
  • perform customer, industry, and competitor analyses.
  • assess the value of product(s) based on consumer perceptions and thereby identify market segments.
  • develop a pricing strategy for new products.

 

General Competence

Students should after this course be aware that a sustainable pricing and product management strategy takes into account social responsibility and ethical considerations.

Course content
  • Intro to product development and NPD Processes         
  • Opportunity Identification and Creativity                                                           
  • Customer Insights and Market Analysis  for NPD                                              
  • Concept Evaluation and Testing                                              
  • Project Evaluation and Testing                                                
  • Intro to pricing
  • Price Setting                                                                                    
  • Consumer Insights for Pricing                                                
  • Price segmentation                                                                     
  • Pricing of Interrelated Products
Teaching and learning activities

The learning objectives of the course are accomplished with a combination of lectures, 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.

Software tools
No specified computer-based tools are required.
Additional information

For electives re-sit is normally offered at the next scheduled course. If an elective is discontinued or is not initiated in the semester it is offered, re-sit will be offered in the electives ordinary semester.

Qualifications

Higher Education Entrance Qualification.

Required prerequisite knowledge

The course is based on the knowledge of marketing that the students have acquired from other marketing courses in their studies.

Exam categoryWeightInvigilationDurationSupport materialsGroupingComment exam
Exam category:
Submission
Form of assessment:
Written submission
Exam code:
ELE 37751
Grading scale:
ECTS
Grading rules:
Internal examiner
Resit:
Examination when next scheduled course
30Yes3 Hour(s)
  • BI-approved exam calculator
  • Simple calculator
  • Bilingual dictionary
Individual
Exam category:
Submission
Form of assessment:
Written submission
Exam code:
ELE 37752
Grading scale:
ECTS
Grading rules:
Internal and external examiner
Resit:
Examination when next scheduled course
70No1 Semester(s)Group/Individual (1 - 3)
Exams:
Exam category:Submission
Form of assessment:Written submission
Weight:30
Invigilation:Yes
Grouping (size):Individual
Support materials:
  • BI-approved exam calculator
  • Simple calculator
  • Bilingual dictionary
Duration:3 Hour(s)
Comment:
Exam code: ELE 37751
Grading scale:ECTS
Resit:Examination when next scheduled course
Exam category:Submission
Form of assessment:Written submission
Weight:70
Invigilation:No
Grouping (size):Group/Individual (1-3)
Support materials:
Duration:1 Semester(s)
Comment:
Exam code: ELE 37752
Grading scale:ECTS
Resit:Examination when next scheduled course
Type of Assessment: 
Ordinary examination
Total weight: 
100
Workload activityDurationType of durationComment student effort
Teaching33Hour(s)
Prepare for teaching25Hour(s)
Examination60Hour(s)
Group work / Assignments82Hour(s)Presentation, preparation for presentations, group work, research, information gathering and analysis.
Expected student effort:
Workload activity:Teaching
Duration:33 Hour(s)
Comment:
Workload activity:Prepare for teaching
Duration:25 Hour(s)
Comment:
Workload activity:Examination
Duration:60 Hour(s)
Comment:
Workload activity:Group work / Assignments
Duration:82 Hour(s)
Comment:Presentation, preparation for presentations, group work, research, information gathering and analysis.
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.