Behavioral Pricing: Insights, Methods and Strategy (WI001090)

Lecturer (assistant)
Number0000002116
TypeSeminar
Duration4 SWS
TermWintersemester 2019/20
Language of instructionEnglish
Position within curriculaSee TUMonline
DatesSee TUMonline

Dates

Admission information

See TUMonline
Note: The registration for the seminars of the TUM School of Management is NOT available via TUMonline, but via the seminar placement tool (https://seminars.wi.tum.de/) Please upload your application until August 19, 2019. 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 be aware that you are expected to attend all seminar dates. The in-class sessions will be held on 4 days that will be made available before the semester starts. Please make sure you can attend all sessions.

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. Participation at all dates is a prerequisite for successfully participating in the seminar. Please check the seminar dates which will be made available via TUMonline before the semester starts.

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. In order to foster a deeper understanding the seminar contains several practical elements to enable students to apply the in-depth theoretical knowledge to real-life scenarios. 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.

Links