BA 8590: Seminar in Operations Management
(PRICING STRATEGIES FOR REVENUE OPTIMIZATION)
Room 931, Boonchana-Atthakorn Building
Thunyarat Amornpetchkul (อ.ดร. ธัญรัตน์ อมรเพชรกุล)
Boonchana-Atthakorn Building, 8th Floor
Sunday 3-5pm, Thursday 4-6pm, and by appointment
A key success in modern business world is the ability to truly understand and innovatively apply the knowledge in many different subjects altogether. This course is designed to introduce students to contemporary business strategies, which lie between the field of Operations Management and Marketing. At the interface of these two important business subjects, there exist tremendous opportunities to discover practical techniques to help improve business performance sustainably.
An important business activity which requires the knowledge in Operations Management and Marketing is pricing. Pricing is an essential activity in many types of businesses and industries. Informed pricing decisions can help firms gain tremendous advantages in today’s competitive business environment. This course will discuss the concepts and frameworks of pricing, factors that influence pricing decisions, pricing and revenue optimization techniques for different industries, contemporary pricing issues, and innovative pricing practices, with an emphasis on how to develop best pricing strategies to improve a firm’s performance. Students taking this course will be equipped with tools to help identify and exploit opportunities for boosting their firm’s bottom line across a range of business contexts including retailing, manufacturing, transportation, hospitality, and financial services, among others. COURSE OBJECTIVES:
Upon successful completion of this course, students will
understand the important role of pricing, and how it is interconnected with other business activities
learn about different pricing methods currently observed in practice be acquainted with the analytical concepts and techniques used to design effective pricing and operational strategies
gain insights into how to resolve pricing issues, improve pricing decisions, and ultimately maximize a firm’s operational performance and profitability
TEXTBOOKS AND SUPPLEMENTARY MATERIALS:
Pricing Strategy: Setting Price Levels, Managing Price Discounts, & Establishing Price Structures, Tim J. Smith, South-Western Cengage Learning, 2012. Recommended textbooks (Available at NIDA Library)
Pricing and Revenue Optimization, Robert L. Phillips, Stanford Business Books, 2005. The Strategy and Tactics of Pricing: A Guide to Growing More Profitably, Thomas T. Nagle and John E. Hogan, Pearson, 2006.
Supplementary Materials: Case studies, news articles, handouts, and simulation software will be made available at least a week prior to the class in which they will be used. Students who wish to expand their knowledge beyond this course may consult the instructor for additional references on pricing and revenue optimization. GRADING:
Class attendance and participation
Class attendance and participation – Students are expected to attend every session as the classroom environment for this course is especially designed to maximize the students’ learning experience. Each session features a combination of various teaching-learning media including lectures, class discussions, case studies, simulation games, guest speakers, and student presentations. To benefit most from this course, students should come to class prepared to participate in classroom activities, discuss their thoughts on...
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