MPE 670 Pricing

Pricing is one of the most important marketing mix decisions that a firm makes, and it affects all other elements of the marketing mix. This course examines the theories and strategies that firms use to set and change prices. Firms are required to anticipate and respond to changes in competitors’ activities and in areas of the external environment, such as, political, social, regulatory and technological. Some of the issues that will be covered include: Why is pricing often ineffective? How should a firm’s costs affect its pricing decisions? What is customer price sensitivity? How do you anticipate and influence the price-setting behavior of competitors? How does pricing change over the product life cycle? How does pricing relate to market segmentation? How do you strive to price strategically consistent with the other elements of the marketing mix?