85265 - Value Pricing Laboratory

Learning outcomes

This laboratory aims teaching students how to price and services by providing a comprehensive framework for understanding pricing strategies and tactics. The course addresses issues such as price elasticities, economic value analysis, value perception and price customization.

Course contents

This module provides a theoretical and methodological approach to customer value measurement. This laboratory aims teaching students how to price products and services by providing a comprehensive framework for understanding pricing strategies and tactics. In particular, the theoretical foundations examined in class will be translated into the marketing practice by means of class exercises in the lab.

Contents: 

1) Segmentation, Targeting and Positioning

2) Cluster analysis and customer segmentation

3) Multi-dimensional scaling and perceptual maps

5) Pricing and Promotion Strategies

6) Conjoint Analysis and pricing/product decision

7) Customer Satisfaction measurement and analysis

8) Text mining analysis

Readings/Bibliography

The course is mainly practical in its nature. Therefore, classes will be mainly in lab. There are not mandatory readings for this course. However, students might make reference to the following books and papers aimed to deepening either the theoretical concepts or the methodological issues.

1) Winer & Dhar – Pearson Ed. “Marketing Management (4^th Edition)

2) Mazzocchi, M. (2008). Statistics for marketing and consumer research. Sage.

3) Humphreys, A., & Wang, R. J. H. (2018). Automated text analysis for consumer research. Journal of Consumer Research,44(6), 1274-1306. Chicago

4) Berger, J., Humphreys, A., Ludwig, S., Moe, W. W., Netzer, O., & Schweidel, D. A. (2020). Uniting the tribes: Using text for marketing insight. Journal of Marketing, 84(1), 1-25.

Teaching methods

The course teaching methods includes lectures, laboratory, group project work to allow participants to apply to real settings the concepts and techniques that have been analysed during the course.

Assessment methods

Though not compulsory, class attendance and participation in team-work assignments is strongly encouraged. Team-work assignments consist of:

One final team-work project: students will be asked to work in group on a project and to present in class the results and the managerial consequences of their project.

Course evaluation will be different depending on the eventual participation in team-work assignment, as detailed in the following:

Students participating in team-work assignments:

70% final written exam

30% team-work assignment

Students who do not participate in team-work assignments:

100% final written exam

The final written exam for the Laboratory of Value Pricing Module will consist of the interpretation of a couple of SPSS outputs by proposing a) the conclusions that can be drawn from the data, and b) the managerial consequences of the findings reported on the outputs, backed by the theory studied in class.

The grades of the two module exams will be averaged to compute the “final written exam” grade.

The graduation of the final grade is as follows:

• 18-19: knowledge of a very limited number of topics covered in the course and analytical skills that emerge only with the help of the teacher, expressed in an overall correct language;
• 20-24: knowledge of a limited number of topics covered in the course and ability to autonomous analysis only on purely executive matters, expression in correct language;
• 25-29: good knowledge of a large number of topics covered in the course, ability to make independent choices of critical analysis, mastery of specific terminology;
• 30-30L: Excellent knowledge of the topics covered in the course, ability to make autonomous choices of critical analysis and connection, full mastery of specific terminology and ability to argue and self-reflection.

 

Teaching tools

SPSS

Office hours

See the website of Annamaria Tuan