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Author Michel, Stefan

Title Value-Based Pricing.[ electronic resource]

Publication Info. ©2015
Carpenteria, CA, 2015.
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Playing Time 00:37:17
Note 03/31/2015
Contents Explore the benefits of value-based pricing, a strategy in which you set prices based on the perceived value to customers instead of on cost.
Performer Professor Michel's major research interests are in customer-focused marketing strategy, service innovation, and pricing. At IMD, he is the director of the Executive MBA program, and he teaches in the Strategic Marketing program, the Foundation for Leadership program, the MBA program, and the Orchestrating Winning Performance program, as well as in many partnership programs for world-leading companies. He has written six books, eight book chapters, and more than twenty newspaper articles on these subjects, as well as many academic articles that have appeared in journals including Harvard Business Review, California Management Review, and the Journal of the Academy of Marketing Science. He won the Emerald Literati Award 2009 by the Journal of Service Management, and the Best Paper Award in Marketing Strategy at the AMA Winter Educators' Conference in 2005.Prior to joining IMD, Professor Michel was an associated professor of marketing at Thunderbird School of Global Management (USA), where he taught in the MBA and EMBA programs, as well as in customized corporate learning programs for European, Korean, and Chinese companies. He introduced various successful teaching innovations and received several awards for excellence in teaching. He is an invited global faculty member at the Center for Service Leadership at Arizona State University (USA). He works internationally with clients such as GE (New York), Visa Europe, Credit Suisse, Maersk, Interbrand Zintzmeyer & Lux, Concordia, Postfinance, and UBS, and he ran his family's hotel business as chairman of the board. He is a nonexecutive board member at Bossard and a board member of GfM Gesellschaft für Marketing (Swiss Marketing Association). Professor Michel holds an MBA and a DBA from the University of Zurich, both summa cum laude. He received the 1997 Best Dissertation Award, granted by the Swiss Society for Market and Social Research.
Summary Are you charging the price you deserve? You might be able to increase revenue through value-based pricing, a strategy in which you set prices based on the perceived value to customers instead of on cost. In this course, IMD professor Stefan Michel lays out the differences between cost-based and value-based pricing, while detailing the four capabilities of value-based pricing: superior customer insights, an understanding of your market, and the abilities to manage prices and apply pricing psychology. Along the way, explore the benefits of customer segmentation and the concept of pricing as pain management, and learn about the importance of maintaining confidence during price negotiations.
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Enterprise Marketing
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