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, as well as classic pricing theory and behavioral pricing, will be discussed. 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/tools of price and product management. They will especially know and understand the fundamentals of pricing decisions, which are rooted in microeconomics and psychological theory, and they will be able to derive detailed recommendations for action regarding all areas of product decisions. In addition, the students will be able to apply analytical tools used to make pricing and product decisions.

Necessary prerequisites
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Recommended prerequisites
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Examiner Performing lecturer

Prof. Dr. Dr. h. c. mult. Christian Homburg Prof. Dr. Dr. h. c. mult. Christian Homburg