KINN3027 Pricing and revenue management

    • Number of credits
      7,5
    • Teaching semester
      2023 Autumn
    • Language of instruction
      English
    • Campus
      Kongsvinger
    • Required prerequisite knowledge

      Recommended prerequisites: Basic understanding of business economics, statistics, and optimization is an advantage.

Course content
  • Basic price optimization
  • Price differentiation
  • Pricing with constrained supply
  • Revenue management
  • Markdown management
  • Customized pricing

Learning Outcome

Knowledge

Knowledge

  • Be able to identify what opportunities various companies might have to apply pricing and revenue management.
  • Understand the critical differences among different types of opportunities and approaches needed to address them.
  • Understand and be able to explain key concepts such as; (1) the impact of constrained capacity, (2) opportunity costs, (3) customer response, (4) demand uncertainty, and (5) market segmentation
Skills
  • Formulate decision problems within price and revenue management for companies/events.
  • Model real decision problems within price and revenue management using spreadsheets / appropriate software.
  • Implement the obtained results for (imaginary / real) companies / events within different business areas.
  • Understand and discuss what prices of various goods and services consist of from a price hedonistic point of view.
General competence
  • Assess what opportunities and limitations that are present by applying price and revenue management as tools in order to improve a company’s profitability.
  • Be able to propose various pricing models and implement these, using the appropriate software, in private/public Companies.
Teaching and working methods

Lectures, exercises, group work, case-reports, student presentations of research articles, self-study.

Required coursework

Mandatory course requirements:

  • Mandatory homework assignments must be handed in before each teaching module (a total of 4). These will be combinations of practical and theoretical exercises covering key topics in the course. 
  • Three out of four homework assignments must be passed to be allowed to take the exam.  
  • Attendance on at least 50% of the courses lectured teaching.
Form of assessment

Four-hour individual written exam. Grading A-F.

Assessments
Form of assessmentGrading scaleGroupingDuration of assessmentSupport materialsProportionComment
Written examination with invigilation
ECTS - A-F
Individual
4 Hour(s)
  • No support materials
100%

Reading list

Faculty
Inland School of Business and Social Sciences
Department
Department of Business Administration