Behavioral Pricing: Insights, Methods and Strategy (WI001090) (Limited places)
|Language of instruction||English|
|Position within curricula||See TUMonline|
- 19.10.2021 14:00-19:00 0510, CIP-Pool
- 01.02.2022 09:00-18:00 Online: Videokonferenz / Zoom etc., online (link via email)
- 03.02.2022 09:00-18:00 Online: Videokonferenz / Zoom etc., online (link via email)
- 08.02.2022 09:00-18:00 Online: Videokonferenz / Zoom etc., online (link via email)
Note: see English page!
Note: see English page!
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.
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. We aim to hold all sessions in person at TUM, however, depending on the pandemic situation we might switch to hybrid or online formats on short notice.
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.
Term paper and presentation
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.