Login Create Account

Back to Course Catalog

MKT829Management Sciences3 Unitsintermediate

Pricing Policies

This course, Pricing Policies, explores the complexities of pricing as a critical marketing decision. It covers policies and strategies for pricing products in modern organizations. Students will learn about the determinants of price, demand and supply influences, price elasticity, and various pricing strategies. The course also addresses quality, legal, and regulatory issues, resale pricing maintenance, and the marketing mix variables.

Take a Practice Test Generate AI Study Notes

Take a practice test or generate AI study notes to help you excel in this course.

156h

Study Time

13

Weeks

12h

Per Week

basic

Math Level

Course Keywords

Pricing PoliciesMarketing StrategiesDemandPrice ElasticityMarketing Mix

Course Overview

Everything you need to know about this course

Course Difficulty

Intermediate Level

Builds on foundational knowledge

65%

intermediate

➕

Math Level

Basic Math

📖

Learning Type

Theoretical Focus

Course Topics

Key areas covered in this course

1

Meaning of Price

2

Determinants of Price

3

Pricing Procedures

4

Demand Influences

5

Supply Influences

6

Price Elasticity

7

Pricing Strategies

8

Legal and Regulatory Issues

9

Product Variable

10

Distribution Variable

11

Promotional Variable

Total Topics11 topics

Ready to Start

No specific requirements needed

This course is designed to be accessible to all students. You can start immediately without any prior knowledge or specific preparation.

Assessment Methods

How your progress will be evaluated (3 methods)

Self-Assessment Exercises

Comprehensive evaluation of course material understanding

Written Assessment

Tutor-Marked Assignments

Comprehensive evaluation of course material understanding

Written Assessment

Final Examination

Comprehensive evaluation of course material understanding

Written Assessment

Career Opportunities

Explore the career paths this course opens up for you

Marketing Manager

Apply your skills in this growing field

Sales Analyst

Apply your skills in this growing field

Pricing Analyst

Apply your skills in this growing field

Brand Manager

Apply your skills in this growing field

Market Research Analyst

Apply your skills in this growing field

Industry Applications

Real-world sectors where you can apply your knowledge

RetailManufacturingE-commerceConsultingFinancial Services

Study Schedule Beta

A structured 13-week journey through the course content

Week

1

Module 1: Overview of Pricing

4h

Unit 1: Meaning and Significance of Price

2 study hours

•Read the introduction to understand the scope of the unit.
•Study the meaning of price and its significance to buyers, sellers, and society.
•Reflect on the relationship between price and demand.
•Answer the self-assessment exercises.

Unit 2: Determinants of Price

2 study hours

•Identify and analyze the internal and external determinants of price.
•Understand how market structure influences pricing decisions.
•Examine the role of government policy in price setting.
•Complete the self-assessment exercises.

Week

2

Module 1: Overview of Pricing

3h

Unit 3: Pricing Procedures and Policies

3 study hours

•Study the different pricing procedures, including cost-oriented, competition-oriented, and demand-oriented pricing.
•Examine various pricing policies such as uniform, discriminatory, and psychological pricing.
•Consider the sundry pricing issues, including export pricing.
•Complete the self-assessment exercises.

Week

3

Module 2: Factors Influencing Pricing Policies

3h

Unit 1: Demand Influences on Pricing Decisions

3 study hours

•Examine the impact of demographic factors on pricing decisions.
•Analyze the psychological factors that influence consumer perceptions of price.
•Understand how price elasticity affects pricing strategies.
•Complete the self-assessment exercises.

Week

4

Module 2: Factors Influencing Pricing Policies

3h

Unit 2: Supply Influences on Pricing Decisions

3 study hours

•Study the influence of pricing objectives on pricing decisions.
•Consider the role of cost in pricing decisions.
•Examine how product characteristics and life cycle stages affect pricing.
•Complete the self-assessment exercises.

Week

5

Module 2: Factors Influencing Pricing Policies

3h

Unit 3: Environmental Influences on Pricing Decisions

3 study hours

•Analyze the impact of competition on pricing decisions.
•Examine the role of government regulations in pricing.
•Consider the legal issues related to pricing.
•Complete the self-assessment exercises.

Week

6

Module 2: Factors Influencing Pricing Policies

3h

Unit 4: Price Elasticity

3 study hours

•Understand the meaning of price elasticity.
•Learn how to determine price elasticity.
•Examine the importance of price elasticity in pricing decisions.
•Complete the self-assessment exercises.

Week

7

Module 3: Pricing Strategies

3h

Unit 1: Price Skimming (New Product Pricing)

3 study hours

•Study the meaning of price skimming.
•Examine the benefits of price skimming.
•Understand when to apply price skimming strategies.
•Complete the self-assessment exercises.

Week

8

Module 3: Pricing Strategies

3h

Unit 2: Penetration Pricing (New Product Pricing)

3 study hours

•Study the meaning of penetration pricing.
•Examine the conditions necessary for penetration pricing strategies.
•Understand the benefits of penetration pricing strategies.
•Complete the self-assessment exercises.

Week

9

Module 3: Pricing Strategies

3h

Unit 3: Product Line Pricing Strategies

3 study hours

•Study the meaning of product line pricing.
•Examine captive pricing, premium pricing, and bait pricing.
•Understand price lining strategies.
•Complete the self-assessment exercises.

Week

10

Module 3: Pricing Strategies

3h

Unit 4: Psychological Pricing

3 study hours

•Study multiple-unit pricing, bundle pricing, reference pricing, and everyday low prices.
•Examine odd-even pricing and prestige pricing.
•Understand how psychological factors influence pricing decisions.
•Complete the self-assessment exercises.

Week

11

Module 3: Pricing Strategies

3h

Unit 5: Competition-Based Pricing

3 study hours

•Study customary pricing, below-market pricing, and loss-leader pricing.
•Examine price leadership and followership strategies.
•Understand how competition influences pricing decisions.
•Complete the self-assessment exercises.

Week

12

Module 3: Pricing Strategies

3h

Unit 6: Distribution-Based Pricing Strategies

3 study hours

•Study delivered pricing and base-point pricing.
•Examine freight absorption pricing.
•Understand how distribution costs affect pricing strategies.
•Complete the self-assessment exercises.

Week

13

Module 5: Marketing Mix

4h

Final Revision

4 study hours

•Review all modules and units.
•Work on assignments and TMAs.
•Prepare for the final examination.

This study schedule is in beta and may not be accurate. Please use it as a guide and consult the course outline for the most accurate information.

Course PDF Material

Read the complete course material as provided by NOUN.

Access PDF Material

Study Tips & Exam Preparation

Expert tips to help you succeed in this course

1

Create a detailed study schedule allocating specific time slots for each module and unit.

2

Summarize key concepts and formulas from each unit to create a quick reference guide.

3

Practice applying different pricing strategies to real-world case studies.

4

Review all Tutor-Marked Assignments (TMAs) and focus on areas where you received lower scores.

5

Form a study group with classmates to discuss challenging concepts and share insights.

6

Create concept maps linking pricing strategies to market conditions and company objectives.

7

Practice numerical problems related to price elasticity and cost-volume-profit analysis.

8

Review legal and regulatory frameworks related to pricing in different industries.

9

Focus on understanding the factors influencing pricing decisions, such as demand, supply, competition, and government policies.

10

Prioritize topics based on their weightage in the final examination.

11

Use past exam papers to familiarize yourself with the exam format and types of questions.

12

Allocate time for revision and mock exams to assess your preparation level.

13

Get enough rest and maintain a healthy lifestyle during the exam period to stay focused and perform optimally.

Related Courses

Other courses in Management Sciences that complement your learning

Comparative Public Administration

International Marketing

Basic French

View All Management Sciences Courses