MKT 510: Price and Product Management
Contents
This module deals with two important components of the marketing mix: price and product management. With regard to price management, the fundamentals of pricing decisions will be discussed as well as classic pricing theory and behavioral pricing. Furthermore, a focus of the lecture will be on determining optimal prices and on price implementation.
The part on product management is concerned with all decisions related to the current and future product portfolio and includes all stages of the product life cycle with a special focus on innovation management and the management of products already established in the market. Finally, the module covers fundamental models of product choice and major aspects of brand management.
Learning outcomes
At the end of this module, students will understand the relevance of pricing and product decisions and become familiar with important instruments/
Necessary prerequisites
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Recommended prerequisites
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| Forms of teaching and learning | Contact hours | Independent study time |
|---|---|---|
| Lecture | 2 SWS | 9 SWS |
| Exercise class | 1 SWS | 5 SWS |
| ECTS credits | 6 |
| Graded | yes |
| Workload | 180h |
| Language | English |
| Form of assessment | Exam (60 min) |
| Restricted admission | no |
| Further information | – |
Examiner Performing lecturer |  | Prof. Dr. Dr. h. c. mult. Christian Homburg Prof. Dr. Dr. h. c. mult. Christian Homburg |
| Frequency of offering | Fall semester |
| Duration of module | 1 semester |
| Range of application | M.Sc. MMM, M.Sc. Bus. Edu., M.Sc. Econ., M.Sc. Bus. Inf., LL.M., MAKUWI |
| Preliminary course work | – |
| Program-specific Competency Goals | CG 1, CG 2 |
| Literature | Basic Literature:
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| Course outline | Part A – Price Management A.1. General Principles of Price Management A.2. Fundamentals of Classical Pricing Theory A.3. Principles of Behavioral Pricing A.4. Price Determination A.5. Price Enforcement Part B – Product Management B.1. General Aspects of Product Management B.2. Innovation Management B.3. Management of Established Products B.4. Brand Management |