Pricing and Demand Management

Catalog description

This course provides a broad exploration of improving profitability for organizations using revenue- and demand-based strategies. After a brief introduction to the time value of money, it investigates the topics of customer demand and choice, traditional and dynamic pricing methods, auction methods, customer-based strategies such as bundling and customization, and how to determine service charges for service activities. It considers the various factors that influence how and why customers make the decisions they do for service-based products, particularly in relation to their utility for transactions. Building on these insights, students will be able to develop various pricing and other customer-based strategies that help to improve profitability for service industries that use either traditional or dynamic pricing strategies. Students will be able to apply these strategies to a variety of service industries including the logistics, hospitality, healthcare, and retail industries.