MIT Sloan School of Management
Pricing: Using Data to Improve Pricing Performance
Develop the techniques and guidelines to execute a successful pricing strategy.
Starting soon
Start date
29 May 2024
Enroll by 21 May 2024
Course duration
6 weeks
Excluding orientation
Language
English
Access resources from start date
Effort
6–8 hours per week
Self-paced learning online
Course overview
The percentage of consumers who believe that the use of advanced analytics could result in getting a fairer price.
Accenture (Sep, 2019).
The percentage of surveyed consumers who say they want companies to use their data securely and responsibly to customize pricing and promotions.
Accenture (Sep, 2019).
Duration: 6 weeks (excluding orientation)
An effective pricing strategy offers your organization a key advantage over its competitors. Understanding how to implement one is a valuable tool in an increasingly interconnected business landscape with a growing number of parties wanting their share of the market.
The Pricing: Using Data to Improve Pricing Performance online short course from MIT Sloan School of Management equips you with the skills and understanding to accurately and effectively price new or existing products or services, with a focus on providing economic value to the customer. In the course, you’ll learn to adopt a data-driven approach that explores regression analysis, survey techniques, and conjoint analysis. You’ll also discover the limitations of historical data in the context of pricing, and develop techniques and guidelines that will enable you to execute a successful pricing strategy for a variety of products and industries, enabling you to have a measurable impact on your organization.
Is this course for you?
Pricing is a timeless and adaptable skill that can be used to improve business performance in a wide range of industries. Whether you are introducing new products, facing price competition, or looking to improve the value provided to customers, this course will provide practical skills for any professional who plays a hands-on role within pricing strategy. CEOs and entrepreneurs, finance and sales executives, analysts, and product managers looking to grow their business and increase sales through better pricing will gain the ability to have a measurable impact on their organizations.
Course overview
Introduction
Duration: 6 weeks (excluding orientation)
An effective pricing strategy offers your organization a key advantage over its competitors. Understanding how to implement one is a valuable tool in an increasingly interconnected business landscape with a growing number of parties wanting their share of the market.
The Pricing: Using Data to Improve Pricing Performance online short course from MIT Sloan School of Management equips you with the skills and understanding to accurately and effectively price new or existing products or services, with a focus on providing economic value to the customer. In the course, you’ll learn to adopt a data-driven approach that explores regression analysis, survey techniques, and conjoint analysis. You’ll also discover the limitations of historical data in the context of pricing, and develop techniques and guidelines that will enable you to execute a successful pricing strategy for a variety of products and industries, enabling you to have a measurable impact on your organization.
Is this course for you?
Pricing is a timeless and adaptable skill that can be used to improve business performance in a wide range of industries. Whether you are introducing new products, facing price competition, or looking to improve the value provided to customers, this course will provide practical skills for any professional who plays a hands-on role within pricing strategy. CEOs and entrepreneurs, finance and sales executives, analysts, and product managers looking to grow their business and increase sales through better pricing will gain the ability to have a measurable impact on their organizations.
What will set you apart
An analytical toolkit to develop a successful pricing strategy, with insight into the opportunities and limitations of data, to help you reinvent your approach to pricing.
The understanding to assign economic value to a product or service based on customer demand, equipping you to improve financial performance in your business.
Decision-making skills for pricing products across a range of industries, teaching you to account for multiple variables in a complex pricing market.Course curriculum
Orientation module
Welcome to your Online Campus
Module 1
Value-based pricing: Determining prices based on economic value to the customer
Module 2
Survey design: Measuring customer perception of product value
Module 3
The role of price elasticity in improving pricing
Module 4
Analyzing the right data to drive better pricing decisions
Module 5
Implications of customer segmentation and product differentiation for pricing
Module 6
Creating a pricing strategy: Consolidating various pricing techniques
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Faculty Director
Catherine Tucker
Sloan Distinguished Professor of Management and Professor of Marketing, MIT Sloan
Earn a certificate of completion from MIT Sloan
Assign economic value to a product or service according to market demand and earn an official digital certificate of completion from MIT Sloan.
This program also counts toward an MIT Sloan Executive Certificate, which you can earn upon completion of four programs where at least three of the four come from your chosen certificate track and at least one is completed in person. Find full details here.
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Discover the Online Campus
The Online Campus will be your virtual classroom for the duration of your course. Through its easy-to-use interface you'll have access to a diverse variety of course content formats including: interactive videos, module notes, practice quizzes, presentations, assignment briefs, and additional web resources.
On the Online Campus, you'll also be able to ask questions and interact with your fellow students and teaching team through the discussion forums. If you are looking for your Online Campus login, please see the list of university partner login pages here.
