College Department Course Title Faculty of Business Marketing Pricing Tactics Course Code 30512213 Credit Hours 3 Prerequisite COURSE PLAN FIRST: BASIC INFORMATION College Course Principles of Marketing and Micro economics Instructor Name Dr. Ghazi Al-Weshah Office No. Second floor, Faculty of Business (currently Deanship of Scientific Research) Tel (Ext) 3032 E-mail Ghazi.alweshah@bau.edu.jo Office Hours 12:00 4:00 pm Monday, Wednesday Class Times Building Day Start Time End Time Room No. Computer Center Monday and building Wednesday 11:00 am 12:30 pm 002 Text Book Thomas T. Nagle and George Muller (2018) The Strategy and Tactics of Pricing A guide to growing more profitably, 6 th Edition. Routlege- New York, References The Strategy and Tactics of Pricing, by T. Nagle, J. Hogan, and J. Zale, 5th Edition, Prentice Hall, 2010. (NHZ) Vohra, Rakesh and Lakshman Krishnamurthi. (2012) Principles of Pricing, Cambridge University Press Tim J. Smith (2012) - Setting Price Levels, Managing Price Discounts & Establishing Price Structures, South Western. SECOND: PROFESSIONAL INFORMATION COURSE DESCRIPTION Pricing is one of a critical marketing mix component; the course finds the optimal interaction of consumer/customer price/value and business profitability. Pricing strategies and tactics are essential determinants of the competitive position, success and ultimately profitability of an organization. This course will enable students to examine pricing on strategic, conceptual, and tactical levels. Therefore, this course prepares students to address strategic and tactical pricing issues and to identify profit changes in pricing practices across a range of professional contexts as management consultants,
product managers, entrepreneurs, business unit managers. More specifically, this course aims to provide students with proven concepts, techniques, and frameworks for assessing and formulating pricing strategies, in combination with real world examples. COURSE OBJECTIVES 1. Learn the basics concepts of pricing and its importance in business environment. 2. Gain a broad conceptual understanding of market behavior toward pricing 3. Set effective prices in different businesses. 4. Employ qualitative and quantitative knowledge to develop and implement a strategic pricing plan. COURSE LEARNING OUTCOMES Upon the completion of this course students will be able to: 1) Knowledge and Understanding through understanding the major concepts, strategies, and tactics of pricing in dynamic environment, the student should be able to apply these strategies and tools to situations, both artificial and from the student s own experience, in order to analyze the causes of the situation, and to critically evaluate the effectiveness of relevant E-marketing tools and their likely applications and outcomes. 2) Professional Skills through developing a coherent argument of class students in order to enhance student s skills to think critically about pricing strategies, tactics, and problems in real contexts. 3) Competences (Transferable skill and attributes) The student should be prepared for class and engaged in discussions; the student should share their ideas and interpretations of pricing issues, and be able to critically analyze pricing conditions. Furthermore, they should be able to consider the contemporary pricing strategies and tactics in changing environments. COURSE SYLLABUS Week Course Topic Notes Week 1 A general overview Week 2 Introduction to pricing concepts Week 3 Week 4 Week 5 Week 6 Week 7 Breakeven and price elasticity of demand Pricing approaches- cost-based pricing Pricing approaches- value and competition based pricing New product pricing strategies- penetration New product pricing strategies- skimming
Week 8 Midterm exam Midterm Exam Week 9 Pricing strategies- product mix- part 1 Week 10 Pricing strategies- product mix- part 2 Week 11 Pricing strategies- price adjustment part 1 Week 12 Pricing strategies- price adjustment- part 2 Week 13 Week 14 Week 15 Psychology of pricing Pricing and quality Pricing and internet: Dynamic pricing and Auctions Week 16 Final exam Final Exam
COURSE LEARNING RESOURCES This module will be taught using available resources including: lectures, data show and materials uploaded to the e-learning system. ONLINE RESOURCES 1- https://open.lib.umn.edu/principlesmarketing/chapter/15-3-pricing-strategies/. 2- https://www.bdc.ca/en/articles-tools/marketing-sales-export/marketing/pages/pricing-5- common-strategies.aspx. 3- http://www.entrepreneurshipinabox.com/386/8-pricing-strategies/. ASSESSMANT TOOLS ASSESSMENT TOOLS % Participation/attendance 5 Presentation 5 Mid Exam 40 Final Exam 50 TOTAL MARKS 100 THIRD: COURSE RULES ATTENDANCE RULES Attendance and participation are extremely important, and the usual University rules will apply. Attendance will be recorded for each class. Absence of 10% will result in a first written warning. Absence of 15% of the course will result in a second warning. Absence more than 15% will result in forfeiting the course and the student will not be permitted to attend the final examination. Should a student encounter any special circumstances (i.e. medical or personal), he/she is encouraged to discuss this with the instructor and written proof will be required to delete any absences from his/her attendance records. GRADING SYSTEM Example: Points Grade 4 A 3.75 A- 3.5 B+ 3 B 2.75 B- 2.5 C+ 2 C 1.75 C- 1.5 D+ 1 D
0.75 D- 0.5 F REMARKS Use of Mobile Devices, Laptops, etc. During Class, unexpected noises and movement automatically divert and capture people's attention, which means you are affecting everyone s learning experience if your cell phone, laptop, etc. makes noise or is visually distracting during class. For this reason, students are required to turn off their mobile devices and close their laptops during class. Academic Integrity. Students, who copy assignments, allow assignments to be copied, or cheat on tests will fail the assignment or test on the first offense, and may fail the entire course on the second. Plagiarism means using words, ideas, or arguments from another person or source without citation. Cite all sources consulted to any extent (including material from the internet), whether or not assigned and whether or not quoted directly. COURSE COORDINATOR Course Coordinator: Ghazi A. Al-Weshah Department Head: Signature: Ghazi Signature: Date: 1-Feb-2018 Date: