Pricing Policies
- Management Sciences
- 800 level
- 3 credit units
- 168 pages
- 21 units
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.
About this course
- Difficulty
- Intermediate
- Study hours
- 156 hours
- Maths
- Basic
- Content
- Theoretical, case study
- Practical work
- No
- Self Assessment Exercises
- Tutor Marked Assignments
- Final Examination
What you'll read
The real module and unit structure of MKT829, taken from the course material NOUN publishes.
- UNIT 1 QUALITY ISSUES IN PRICINGPage 95
- UNIT 2 LEGAL AND REGULATORY ISSUES IN PRICINGPage XX
- UNIT 3: PRICE DISCOUNTING, TRANSFER PRICING AND GEOGRAPHIC PRICINGPage XX
- UNIT 4 FRANCHISE PRICINGPage XX
- UNIT 1 PRODUCT VARIABLEPage 117
- UNIT 2 DISTRIBUTION STRATEGYPage XX
- UNIT 3: PRICING STRATEGIESPage XX
- UNIT 4 PROMOTIONAL VARIABLEPage XX
One paragraph, so you can see how it reads
MKT829 · Unit 4 Franchising
The work you submit will count for 30% of your total course mark. At the end of the course however, you will be required to sit for a final examination, which will also count for 70% of your total marks.
What you should be able to do
- Discuss the meaning, significance, and determinants of price.
- Explain pricing procedures and policies.
- Discuss demand and supply influences on pricing decisions.
- Describe price elasticity and its pricing implications.
- Explain pricing strategies and describe the situations that would recommend each.
- Identify key quality issues in pricing.
- Discuss the legal and regulation issues in Pricing.
- Describe resale pricing maintenance.
- Discuss the features and managerial decisions incumbent on product, price, place and promotion variables.
What it prepares you for
- Marketing Manager
- Sales Analyst
- Pricing Analyst
- Brand Manager
- Market Research Analyst
- Retail
- Manufacturing
- E-commerce
- Consulting
- Financial Services
Where it gets hard
The units students slow down on, and what makes each one heavy.
- Module 3: Pricing Strategies
Unit 5: Competition- Oriented Approaches
Competition-oriented approaches require a deep understanding of market dynamics and competitor analysis, which can be challenging to grasp and apply effectively.
- Module 2: Factors Influencing Pricing Policies
Unit 4: Price Elasticity
Price elasticity calculations and their implications for revenue optimization require strong analytical skills and understanding of economic principles.
A suggested way through it
13 weeks, about 41 hours in total. Yours will differ.
- Week 1Module 1: Overview of Pricing
Unit 1: Meaning and Significance of Price · 2 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 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 2Module 1: Overview of Pricing
Unit 3: Pricing Procedures and Policies · 3 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 3Module 2: Factors Influencing Pricing Policies
Unit 1: Demand Influences on Pricing Decisions · 3 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 4Module 2: Factors Influencing Pricing Policies
Unit 2: Supply Influences on Pricing Decisions · 3 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 5Module 2: Factors Influencing Pricing Policies
Unit 3: Environmental Influences on Pricing Decisions · 3 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 6Module 2: Factors Influencing Pricing Policies
Unit 4: Price Elasticity · 3 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 7Module 3: Pricing Strategies
Unit 1: Price Skimming (New Product Pricing) · 3 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 8Module 3: Pricing Strategies
Unit 2: Penetration Pricing (New Product Pricing) · 3 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 9Module 3: Pricing Strategies
Unit 3: Product Line Pricing Strategies · 3 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 10Module 3: Pricing Strategies
Unit 4: Psychological Pricing · 3 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 11Module 3: Pricing Strategies
Unit 5: Competition-Based Pricing · 3 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 12Module 3: Pricing Strategies
Unit 6: Distribution-Based Pricing Strategies · 3 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 13Module 5: Marketing Mix
Final Revision · 4 hours
Review all modules and units.. Work on assignments and TMAs.. Prepare for the final examination..
Preparing for the exam
- Create a detailed study schedule allocating specific time slots for each module and unit.
- Summarize key concepts and formulas from each unit to create a quick reference guide.
- Practice applying different pricing strategies to real-world case studies.
- Review all Tutor-Marked Assignments (TMAs) and focus on areas where you received lower scores.
- Form a study group with classmates to discuss challenging concepts and share insights.
- Create concept maps linking pricing strategies to market conditions and company objectives.
- Practice numerical problems related to price elasticity and cost-volume-profit analysis.
- Review legal and regulatory frameworks related to pricing in different industries.
- Focus on understanding the factors influencing pricing decisions, such as demand, supply, competition, and government policies.
- Prioritize topics based on their weightage in the final examination.
- Use past exam papers to familiarize yourself with the exam format and types of questions.
- Allocate time for revision and mock exams to assess your preparation level.
- Get enough rest and maintain a healthy lifestyle during the exam period to stay focused and perform optimally.
Questions students ask about this course
What is MKT829 about?
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.
How many units does MKT829 have?
MKT829, Pricing Policies, has 21 units across 4 modules, over 168 pages of course material. You can read it one unit at a time.
How many credit units is MKT829?
MKT829 carries 3 credit units, at 800 level in Management Sciences.
Is MKT829 hard?
MKT829 is rated intermediate level, with basic mathematical content. It is mostly theoretical and case study work.
How long does MKT829 take to study?
About 156 hours of study, spread across its 21 units.
How is MKT829 assessed?
MKT829 is assessed by Self Assessment Exercises, Tutor Marked Assignments and Final Examination.
What can I do with MKT829?
Marketing Manager, Sales Analyst, Pricing Analyst, Brand Manager and Market Research Analyst.