24760 Pricing and Revenue Management

Warning: The information on this page is indicative. The subject outline for a particular session, location and mode of offering is the authoritative source of all information about the subject for that offering. Required texts, recommended texts and references in particular are likely to change. Students will be provided with a subject outline once they enrol in the subject.

Subject handbook information prior to 2025 is available in the Archives.

UTS: Business: Marketing
Credit points: 6 cp

Subject level:

Postgraduate

Result type: Grade and marks

Requisite(s): (24734 Marketing Management OR 24834 Marketing Decision Making) AND 24710 Customer Experience and Behaviour AND (24720 Applied Marketing Research OR 24761 Data-Driven Insights)
These requisites may not apply to students in certain courses.
There are course requisites for this subject. See access conditions.

Description

The pricing decision process depends on economic and market factors, business strategy and customer psychology. Each of these perspectives provides unique insights into the pricing decisions. An important challenge in this subject is to integrate the pricing decision with the rest of the marketing mix and evaluate its effectiveness in achieving broader business objectives across a wide range of offerings.

Subject learning objectives (SLOs)

Upon successful completion of this subject students should be able to:

1.	Analyse pricing theories, frameworks and concepts to managerial decision contexts
2.	Evaluate the different analytical perspectives of pricing decisions tools
3.	Develop a pricing strategy based on a prudent analysis and evaluation process
4.	Critically reflect on group work and class activities to improve pricing decisions in managerial contexts

Contribution to the development of graduate attributes

This subject develops students’ professional and technical competence in utilizing processes, philosophies and concepts associated with pricing management in contemporary organizations. The subject requires students to apply intellectual rigour when analysing the various internal and external challenges companies face when attempting to increase company profit through pricing. Students will learn how to creatively address this complexity via different pricing strategies. They will collaborate in teams to build and communicate strong, practically oriented pricing solutions.

Teaching and learning strategies

This subject is based on dynamic and interactive lecture and workshop sessions. Teaching methods include critical debate and real-world case deliberations, based on stories and interest topics that students have sent through prior to class. For certain topics, students are given the opportunity to work on problems before class and then work collaboratively with other students to solve those problem sets in class. Students will also be given the opportunity to enhance their MS Excel skills. Workshop sessions are built around in-class exercises, group discussions and presentations. These classes are supplemented with both printed and electronic learning materials and resources which students are expected to have read prior to classes. The learning management system will be used to share information and encourage interaction between staff and students. Students will also use appropriate computer software such as spreadsheets and word processors to complete assigned tasks. Formative feedback is given continually both in class and outside class time. Further feedback is provided in relation to submitted assessment tasks.

Content (topics)

1. What is a good pricing decision

2. The value pricing framework

3. Costs, customer value and reference prices

4. The value proposition

5. Price execution

6. Measures of pricing success

Assessment

Assessment task 1: Portfolio (Individual)

Intent:	Reflective Summary Notes (30%) Executive Summary (40%)
Objective(s):	This addresses subject learning objective(s): 1, 2, 3 and 4
Weight:	70%
Length:	Max 600 words for Each note, and max 2,000 words for the Executive Summary.
Criteria:	Summary Note: Application and evaluation of pricing strategies and theories Clarity and conciseness of communication Depth of reflection on class activities and insight into future practice Executive Summary: Application of pricing strategies and theories to professional practice in pricing Depth of reflection on pricing experience and insight into future practice Appropriate pricing strategy decisions and recommendations Clarity of communication

Assessment task 2: Case analysis reports and discussions (Group)*

Objective(s):	This addresses subject learning objective(s): 1, 2 and 3
Weight:	30%
Length:	10-15 slides for the case report. Please show all your calculations, in detail, in the appendix if required. 15-20 mins per group for leading the case discussion including Q&A.
Criteria:	Accurate identification of key business issues and problems in the case Appropriate application of theories and analytical tools to business problems Feasible pricing strategy decisions and recommendations Clear and engaging communication and presentation *Note: Late submission of the assessment task will not be marked and awarded a mark of zero.

Minimum requirements

Students must achieve at least 50% of the subject’s total marks.

Required texts

Utpal Dholakia (2017), How to Price Effectively: A Guide for Managers and Entrepreneurs.

The textbook is available in both electronic and hard copy on Amazon.com. Please take delivery time into consideration when you make the purchase.

The coursepack access will be announced on Canvas.

References

Lecture slides and workshop exercises
Lecture slides and pre-work materials will be available prior to each class.

Although lectures are recorded, it is expected that all students will attend all of their allocated classes.

To avoid legal implications and protect privacy, please note that students are not allowed to share audio and/or visual recording including photography of classes for this subject.

Other resources

Canvas
Canvas is a web-based learning tool. In 24760, Canvas is used for keeping up to date (via Announcements); accessing learning resources (via Subject Materials), and checking your grades (via Tools). It is an expectation and responsibility to access this resource at least once a week. To log in to Canvas visit https://canvas.open.uts.edu. If you are having technical problems with Canvas you should contact the ITD Help Desk on telephone number 9514 2222 or via email: Help.Desk@uts.edu.au.

Mathematics and ICT Study Centre

The Mathematics and ICT Study Centre offers free assistance with mathematics, statistics and basic computing to students from all faculties. The centre can assist students with common computing packages including word processing and spreadsheets. The centre also runs workshops and bridging courses in mathematics, statistics and computing. Full details are available online at www.science.uts.edu.au/facilities/centre/maths.html