Behavioral Pricing: Insights, Methods and Strategy (WI001090)

Lecturer (assistant)
Number0000002116
TypeSeminar
Duration4 SWS
TermWintersemester 2016/17
Language of instructionEnglish
Position within curriculaSee TUMonline
DatesSee TUMonline

Dates

Admission information

See TUMonline
Note: Please send us your application via janpaul.stein@tum.de until September 26, 2016. Your application should include: • Current CV with contact details (ideally mobile phone; see procedure in "content" section) • Current transcript of records • Motivation letter that shows your interest in the seminar (max. 200 words) Please combine these documents in this order in one pdf-file (or zip-file) and name the file in the format “lastname_firstname.pdf” (or “lastname_firstname.zip”). Please use the words "Behavioral Pricing Application" as the only words in the subject field of your e-mail.

Objectives

After completing this module students are able to analyze theoretical and practical findings and reflect those in a term paper. Moreover, the module promotes students’ presentation skills.

Description

In this seminar, classical pricing approaches and tools will be presented and discussed. In contrast to these, “Behavioral Pricing” based on insights from “Behavioral Economics” will be introduced. On the basis of numerous case studies from different sectors (FMCG, client services, capital investments) and markets (B2C versus B2B) methodological implications and strategic options will be developed to examine how “Behavioral Pricing” can be effectively leveraged in practice. The seminar is designed as a “block-seminar” with an extensive introduction to be given at the kick-off event and several break-out case studies throughout the remaining days. Furthermore, participants will individually focus on a specific topic which they research, elaborate and present in the course of the seminar. Dates: Kick-off: October 17, 2016 (14:00 - 18:00) Block 1: January 19, 2017 (09:00 - 18:00) Block 2: January 20, 2017 (09:00 - 18:00) Block 3: January 23, 2017 (09:00 - 18:00) Participation at all dates is a prerequisite for successfully participating in the seminar. The seminar “Behavioral Pricing” is very popular with students so that there are usually more applications than seats available. Nevertheless we strongly encourage you to apply. Since the seminar experience of the students that are selected to participate in the seminar and those that are on the waiting list suffers if seminar participants drop out, we would ask of you the following: Already when applying, please make sure that you are available at all dates and block the whole day (9:00 – 17:30) in your calendar. If you already know that you cannot attend at one or more of the dates, please do not apply. 26 seats are offered. Due to the high popularity of the seminar there are usually more applications than seats available. We will distribute the seats based on your documents. 5 students will be on the waiting list. Our goal is to provide the seminar participants with the best seminar experience possible. This can only be achieved if students who are selected to participate attend every class including the kick-off. Hence, the following procedure applies: o You will be informed until October 4, 2016 if you have received a seat in the seminar or if you are on the waiting list. o Within one week after receiving this information (until October 10, 2016) you will need to confirm your attendance at all seminar dates. If you are on the waiting list, you will need to confirm that you would be willing to take a seat in the seminar if somebody else drops out and that you are available at all dates. If you fail to do so, your seat will immediately be given to somebody else. o If you are on the waiting list, you have a quite high chance to still participate as we keep the waiting list rather short. In order to take full advantage of this position, please make sure that you are at (or close to) the university at the day of the kick-off. Only in this case, we will be able to invite you via telephone to participate in the kick-off if another student does not appear at the kick-off or explains that he/she cannot attend all dates and in either case drops out of the seminar. While this procedure might seem complicated, we strongly believe that it is fair and will help you and your fellow students to get most out of the seminar. We are very much looking forward to receiving your application!

Prerequisites

none

Teaching and learning methods

The module is designed as a seminar. The goals, format, and content of the seminar will be introduced during the kick-off session. Students are expected to study the literature and to intensively deal with the subjects discussed. Students independently prepare a topic and present this topic in-class. During the seminar students are coached and supervised by the lecturer.

Examination

Term paper and presentation

Recommended literature

Basic literature (in addition, further literature about individual topics will be discussed in the seminar): • Bauer, F. (2010): Pricing beyond the Homo Oeconomicus: Expensive mistakes and profitable opportunities in pricing research. In: ESOMAR "Best Methodological Paper". Amsterdam: ESOMAR. • Caldwell, L. (2012). The psychology of price. How to use price to increase demand, profit and customer satisfaction. Surrey: Crimson Publishing. • Poundstone, W. (2010). Priceless: the myth of fait value (and how to take advantage of it). New York: Hill and Wang. • Smith, T. J. (2011). Pricing Strategy: Setting Price Levels, Managing Price Discounts and Establishing Price Structures. Cengage Learning.

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