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    Pricing Strategy
    Go to Carnegie Mellon University
    Carnegie Mellon University

    Pricing Strategy

    Carnegie Mellon University

    Carnegie Mellon University

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    United States of America, Pittsburgh

    University RankQS Ranking
    58

    Key Facts

    Program Level

    Master by Course Work

    Study Type

    Full Time

    Delivery

    On Campus

    Application Fee

    USD 75 

    Campuses

    Main Site

    Program Language

    English

    Start & Deadlines

    Next Intake Deadlines22-Aug-2022
    Apply to this program

    Go to the official application for the university

    Duration 2 year(s)
    Tuition Fee
    USD 50,320  / year
    Next Intake 22-Aug-2022

    Pricing Strategy

    About

    Determining the price of a product or service is one of the most important marketing decisions. It is also one of the most complex and least understood aspects of marketing. While many marketing activities are geared toward creating value for the customer, sound pricing decisions are the fundamental tool for businesses to capture the value they create. In today's hypercompetitive environment, even slight errors in determining the best price can lead to large financial losses. This course draws on the fundamental disciplines of microeconomics, statistics and psychology to shed light on good pricing practice. It surveys some popular pricing practices, explores their pitfalls, and identifies the fallacies they are based on. The first part of the course discusses the foundations for sound pricing decisions: costs, customer and competition. It then moves on to current pricing strategies, tactics and their applications: pricing over the product life cycle; product line pricing; pricing through the marketing channel; price discrimination; two-part tariffs and nonlinear pricing; price bundling; perceived value pricing; and competitive pricing. The course objectives are (1) to build the right pricing philosophy that guides everyday marketing activities, (2) to introduce a framework, based on concepts drawn from cognitive psychology, economics and industrial organization, to study pricing decisions, and (3) to master some concrete analytical and numerical tools for its successful creation, utilization, and management of sound pricing decisions. (10/12-PB)

    Requirements

    Entry Requirements

    GPA

    3.41

    Average

    3.43

    Median

    3.03-3.76

    Middle 80%

    English Program Requirements

    Candidates are required to demonstrate a level of competence in English to meet the admissions requirements of the university. You are required to take a TOEFL, IELTS, or Duolingo exam unless:

    • You attended an undergraduate institution, earning a bachelor’s degree, where the sole language of instruction was English.
    • You earned a graduate degree where the sole language of instruction was English. (Although not required, we do recommend that you take the English Language Proficiency exam.)

    You must request that the official score be sent from the testing agency to our program for us to verify the score entered into the application. Request that the official score be sent to us using the following codes:

    • TOEFL Program Code: Institutional Code = 2074; Departmental Code = 02
      • Pro Tip: The recommended TOEFL score is 25 on each section of the Internet-based test. The minimum TOEFL scores required to apply for admission are: Reading: 20, Listening: 20, Speaking: 20, Writing: 20
    • IELTS Program Code: Select Carnegie Mellon and the Tepper School of Business 
      • Pro Tip: The recommended IELTS score is 7 overall and 7 in each band. The minimum IELTS scores required to apply for admission are: Listening: 7, Reading: 7, Writing: 7, Speaking: 7, Overall Band: 7
    • Duolingo Program Code: Select Carnegie Mellon University – Tepper School of Business
      • Pro Tip: The recommended Duolingo English Test (DET) score is 120 overall

    Pro Tip: TOEFL and IELTS scores are valid for two years and must be valid at the time you submit your application.

    Pro Tip: If you earned a degree from a non-U.S. institution, your academic documents should state that the sole language of instruction for the entire university was English in order to be eligible for a TOEFL/IELTS/Duolingo waiver. If your academic documents don’t include this, you should upload an official letter from the University Registrar indicating English as the mode of instruction for the entirety of the degree.

    Fee Information

    Tuition Fee

    USD 50,320 

    Application Fee

    USD 75 
    Carnegie Mellon University

    Pricing Strategy

    Carnegie Mellon University

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    United States of America,

    Pittsburgh

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