Garantie de satisfaction à 100% Disponible immédiatement après paiement En ligne et en PDF Tu n'es attaché à rien
logo-home
Complete Summary Lecture + Notes - Pricing and Monetization Strategies - 2022 €6,39   Ajouter au panier

Resume

Complete Summary Lecture + Notes - Pricing and Monetization Strategies - 2022

3 revues
 201 vues  22 fois vendu
  • Cours
  • Établissement

Complete Summary Lecture + elaborate notes for Pricing and Monetization Strategies - 2022

Aperçu 3 sur 75  pages

  • 31 mai 2022
  • 75
  • 2021/2022
  • Resume

3  revues

review-writer-avatar

Par: JEV98 • 1 année de cela

review-writer-avatar

Par: filippomainardi • 1 année de cela

review-writer-avatar

Par: ardianbrans • 2 année de cela

avatar-seller
Pricing and Monetization

LECTURE 1: Introduction
What is Marketing from the Perspective of the Consumer?
A way to make products and services conveniently available
(cost of selling vs. cost of making
Realized that there was a lot of cost of selling that could be done more efficiently when becoming
larger: economies of scale)
Vs.
A method to change preferences and willingness to pay

Marketing is the New Finance




You can learn from it by studying consumers
Own customers data is proprietary; only you can see it → so it is a competitive advantage

The Marketing Framework




Creating value/delivering value
Price + product = value
Promotion + place = market reach

In general there are 3 generic pricing strategies:
- Cost-based (not easy to justify, maybe only if there is 1 customer a good approach)
- Value-based
- Competitive-based

The Pricing and Monetization Course Emphasizes:




1

, Course outline
Week 1: Understanding customers Week 4: Price discrimination and Pricing bundles
+ Consumer preferences + Degrees of price discrimination
+ Willingness to pay + Segmentation and bundling
+ Segmentation
Week 5: Pricing dynamics and Metered pricing
Week 2-3: Setting boundaries on pricing + Customer loyalty and life time value
+ Economic value to the customer + Life cycle pricing
+ Lowest sensible price + Pay for use /Subscription Pricing
+ Highest feasible price + Razors and blades problems
+ Demand functions
+ Competitive Pricing Strategy Week 6: Platform pricing and Price
+ experimentation
Week 2-3: Psychology of pricing/ Ethics/ Sustainability + Pricing access
+ Consumer Reference points + Two sided markets
+ Consumer Price expectations + A/B pricing experiments
+ Ethics
+ Sustainable costing Week 7: Integration and review
+ Pricing Policy

Grading




Need min. 5.5 for exam

Price as a tool to divide value between consumers and sellers
Ultimatum Game (1)
1) Two persons, encountering one another once
2) Person A proposes to person B how to divide an amount of money
3) Person B can say yes or no
» Yes: A and B divide the money as proposed
» No: The money disappears and is gone forever

(this is a full information game)
- Basic economic reasoning: Person B always has to choose between getting something or nothing,
basically from economic standpoint would say could offer anything to B and he would accept as in
the other option he gets nothing so anything would be gained value. However, in reality in you
would give person B 1 cent, he would most likely reject in practice. You make an offer that is too
low, they would not accept as they would perceive this offer as unfair.
- Think about A as company, 10 euro as value and B as consumer: if B(consumer) says ‘no’ there is
no value created. While the firm was able to add 10 euros of value to some resources, but now the
firm has to think how do I divide the value between us and the consumers, which they will have to
do via the price. So offering 1 cent of value to customers and keeping 9,99 of the value to the
company as profits, or in reverse giving the full 10 euros to consumers and not keeping any value
to the company itself.
- In real world sharing of values is forced due to competition: if you had 2 persons A and they would
compete for customer(B) they would make much better offers in order to get the consumer to them.




2

, Ultimatum Game (conclusions)
1) Has been studied in many contexts
2) Theory suggests person A proposes minimum to person B who accept
3) Puzzle: In practice person A proposes much more
Ultimatum Game: findings
1) Modal offer: 40-50%
2) Mean offer: 30-40%
3) Offers below 20% are rejected half of the time
4) Offers below 10% are very rare
5) Offers above 50% are very rare
6) Offers around 40-50% are rarely rejected

How stable are these findings?
1)
Repetition: has little effect
Stakes: some % effect, though person B will still reject larger offers with higher stakes
Anonymity: has little effect

2)
Gender: same offers, women reject less often
Race: little difference
Age: little children make smaller offers than adults

3)
Brains: those who figured out the equilibrium offered 5% less
Biology: high testosterone males reject more but make larger offers
Beauty: somewhat higher offers to beautiful people

Dictator Game
1) Two persons, encountering one another once
2) Person A proposes to person B how to divide an amount of money
3) Person B has to accept
In this version people study altruism: they study a situation in which
their bad behaviour cannot be punished

Pricing decisions:
Sharing the value a company creates between itself and its customers




Key take aways
1) Pricing is the function that shares value between sellers and consumers. Divides value. Need to
think about consumer surplus. Ethics. Fairness.
2) Foundation of the course is economic frameworks + elements of psychology. Focused on
marketing practice
3) Course is going to be hands-on. Grading based on homework, cases, and exam




3

Les avantages d'acheter des résumés chez Stuvia:

Qualité garantie par les avis des clients

Qualité garantie par les avis des clients

Les clients de Stuvia ont évalués plus de 700 000 résumés. C'est comme ça que vous savez que vous achetez les meilleurs documents.

L’achat facile et rapide

L’achat facile et rapide

Vous pouvez payer rapidement avec iDeal, carte de crédit ou Stuvia-crédit pour les résumés. Il n'y a pas d'adhésion nécessaire.

Focus sur l’essentiel

Focus sur l’essentiel

Vos camarades écrivent eux-mêmes les notes d’étude, c’est pourquoi les documents sont toujours fiables et à jour. Cela garantit que vous arrivez rapidement au coeur du matériel.

Foire aux questions

Qu'est-ce que j'obtiens en achetant ce document ?

Vous obtenez un PDF, disponible immédiatement après votre achat. Le document acheté est accessible à tout moment, n'importe où et indéfiniment via votre profil.

Garantie de remboursement : comment ça marche ?

Notre garantie de satisfaction garantit que vous trouverez toujours un document d'étude qui vous convient. Vous remplissez un formulaire et notre équipe du service client s'occupe du reste.

Auprès de qui est-ce que j'achète ce résumé ?

Stuvia est une place de marché. Alors, vous n'achetez donc pas ce document chez nous, mais auprès du vendeur smcdebie. Stuvia facilite les paiements au vendeur.

Est-ce que j'aurai un abonnement?

Non, vous n'achetez ce résumé que pour €6,39. Vous n'êtes lié à rien après votre achat.

Peut-on faire confiance à Stuvia ?

4.6 étoiles sur Google & Trustpilot (+1000 avis)

78998 résumés ont été vendus ces 30 derniers jours

Fondée en 2010, la référence pour acheter des résumés depuis déjà 14 ans

Commencez à vendre!

Récemment vu par vous


€6,39  22x  vendu
  • (3)
  Ajouter