Course Specification

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T4 2022

Course Title: Pricing Strategies

Course Code: MA4124

Program: Bachelor in Marketing

Department: : Marketing College: College of Business

Institution: Umm Al Qura University

Version: 2

Last Revision Date:

3/2/2023

Course Specification

T-104

2022

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Table of Contents:

Content Page

A. General Information about the course 3

1. Teaching mode ( mark all that apply)

2. Contact Hours (based on the academic semester) 4 B. Course Learning Outcomes (CLOs), Teaching Strategies and

Assessment Methods 5

C. Course Content 6

D. Student Assessment Activities 6

E. Learning Resources and Facilities 8

1. References and Learning Resources 8

2. Required Facilities and Equipment 8

Erreur ! Source du renvoi introuvable. 5

G. Specification Approval Data 9

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A. General information about the course:

Course Identification 1. Credit hours: 3 2. Course type

a. University ☐ College ☐ Department☒ Track☐ Others☐

b. Required ☒ Elective ☐

3. Level/year at which this course is offered:

Level 10

4. Course general Description:

This course aims to develop students’ understanding and importance of pricing strategies of product and services. In order to estimating the price of a product or service is one of the most important marketing decisions. The course is designed around marketing's three C's: costs, customers and competitors.

The first part of the course discusses how costs should and should not be enter the pricing decision. Secondly it moves to focuses on customer insights into the pricing decision of a product and services. Then lastly, we elaborate how competition impacts on the pricing decision.

The course accomplishes with pricing strategies, tactics and their applications:

dynamic pricing over the product life cycle; product line pricing; pricing through the marketing channel and competitive pricing. Furthermore, it is also emphasized on legal environment and their impact on product pricing decision taken into

considerations when preparing the Price strategies.

5. Pre-requirements for this course (if any): ): Integrated marketing communication, marketing management

6. Co- requirements for this course (if any): Principles of Marketing 7. Course Main Objective(s):

This basic objective of this course to set prices of products and services by

establishing a framework for understanding pricing strategies and tactics. The course begins with a basic economics review, and then goes on to discuss value creation, price structure, price value communication, pricing policies, price level, pricing over the product life cycle, pricing in competitive markets, and measuring price sensitivity.

The course main objectives are:

1. To familiarize the students with the basic terms, concepts, approaches and

problems of pricing decisions;

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2. To introduce a framework, based on concepts drawn from cognitive psychology, economics and industrial organization, to study pricing decisions;

3.To provide and point to analytical tools which are useful for the understanding of the pricing process and for its successful creation, utilization, and management.

1. Teaching mode ( mark all that apply)

No Mode of Instruction Contact Hours Percentage

1. Traditional classroom 80%

2. E-learning 20%

3.

Hybrid

• Traditional classroom

• E-learning 4. Distance learning

2. Contact Hours (based on the academic semester)

No

Activity Contact Hours

1. Lectures 30

2. Laboratory/Studio 3. Field

4. Tutorial 5. Others (specify)

Total

30

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B. Course Learning Outcomes (CLOs), Teaching Strategies and Assessment Methods

Code Course Learning Outcomes

Code of CLOs aligned

with program

Teaching Strategies Assessment Methods 1.0 Knowledge and understanding

1.1

a. Understand and knowledge of Price strategy

b. Understand the fundamental export pricing strategies and relationships to domestic price policies

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• Case based

Teaching methodology adopted.

• Lecture will be a basic way to communicate

• End of the semester assignment evaluated by a presentations

• Course teaching strategies will used by as study of case

Midterm Test Quizzed Case study and assignments assignments

1.2

a. Understand the role of behavioral concepts associated with costs, customer

behavior and

competition with reference to setting price of price of a products

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• Following Case based methodology and live Saudi Arabian examples.

• Following by market visit and observe different kinds of merchandising stranded.

• By case study and make new plan for new product introduction

Midterm Exam

Assignments

Projects

…

2.0 Skills

2.1

Ability analyze the process and issues associated and involved in setting the price of a products and services.

s1

Classroom discussion and brain storming

By discussion of topic that can be understand students’

leanings

2.2

Apply techniques and methods to develop right strategies for successful pricing and understand how dynamic customer needs can influence pricing decisions of a products keeping in view of market competitions.

s2 Enhance Critical thinking of students by engaging students in small groups with some particular assignment with related to topics

Evaluation skills must be in a group and individual task also.

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Code Course Learning Outcomes

Code of CLOs aligned

with program

Teaching Strategies Assessment Methods

2.3

Able to analyze the

impact of

environmental factors affecting the price strategy of product and services

s3

Class room discussion and brain storming and citing examples with a case-based methodology adopted

Evaluation skills must be in a group and individual task also.

3.0 Values, autonomy, and responsibility

3.1

Evaluate the values in

product by

implementation of price sensitivity and enhance awareness of ethical, social and cultural issues so that the firm can be able to achieve the objective and goals

v1 By lecture method and case- based teaching methodology will be adopted to enhance the critical knowledge of strategic planning amongst the students

Midterm exam Case study and

assignments

3.2 ...

C. Course Content

No List of Topics Contact Hours

1. Strategic Pricing 3

2. Value Creation 3

3. Price Structure 3

4 Product Pricing Policy 3

5. Price Level 3

6. Pricing Over the Product Life Cycle 3

7. Pricing Strategy Implementation 3

8. Issues & Challenges with Pricing Products 3

9. Measurement of Price Sensitivity 3

10. Ethics and the Law 3

Total 30

D. Students Assessment Activities

No Assessment Activities *

Assessment timing (in week no)

Percentage of Total Assessment Score

1. Class Participation and Discussions ¹⁰

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No Assessment Activities *

Assessment timing (in week no)

Percentage of Total Assessment Score

2. Quizzes, Assignments, and Case Studies 10

3. Group Report and Presentation 9 20

4. Midterm Exam (in class) TBD 20

5. Final Exam TBD 40

*Assessment Activities (i.e., Written test, oral test, oral presentation, group project, essay, etc.)

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E. Learning Resources and Facilities

1. References and Learning Resources

Essential References

Strategy & Tactics of Pricing 5/e (5th Pearson International Version) [Paperback] by Nagle

Published by Pearson Education

ISBN 978013254613 Supportive References

Pricing Strategy Audit By Kent Monroe

ISBN 10: 0273649388 / ISBN 13: 9780273649380 Published by Pearson Education

Electronic Materials

https://www.amazon.com/Strategic-Marketing-Pearson-New- International-ebook/dp/B00IZ0AZRA

Other Learning Materials

2. Required Facilities and equipment

Items Resources

facilities

(Classrooms, laboratories, exhibition rooms, simulation rooms, etc.)

Lecture rooms are availavable

Technology equipment

(projector, smart board, software) Data show are available in all lecture rooms

Other equipment

(depending on the nature of the specialty) Smart boards are required

F. Assessment of Course Quality

Assessment Areas/Issues Assessor Assessment Methods

Effectiveness of teaching

Chair, Students, External Stakeholders

Department and quality committee

Open discussions with the students

Anonymous surveys

Effectiveness of students assessment

Checking marking by the students themselves if it’s possible

Using the help of other members in reviewing the assignments/exams

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Assessment Areas/Issues Assessor Assessment Methods

Quality of learning resources

Review of course portfolios

Instructor assessment by students

The extent to which CLOs have been achieved

Course specifications are periodically reviewed at the departmental level.

Courses are updated periodically and compared to the benchmark standards.

Other

Assessor (Students, Faculty, Program Leaders, Peer Reviewer, Others (specify) Assessment Methods (Direct, Indirect)

G. Specification Approval Data

COUNCIL

/COMMITTEE MARKETING DEPARTMENT REFERENCE NO.

DATE 5/02/ 2023