This module, part of an introductory course in marketing, focuses on pricing. It contains basic pricing theory along with examples and assignments that reinforce the material.
The learning goals are focused on conveying a basic understanding of pricing concepts as part of a marketing plan. Emphasis is placed on application of concepts that draw upon students' personal experiences with pricing issues.
Target Student Population:
The obvious target student population is an undergraduate principles of marketing class. However, this material could be used as a pricing refresher for undergraduate and graduate students that need supplementary information.
Prerequisite Knowledge or Skills:
No course prerequisites or special skills are needed as basic calculations are clearly presented.
Type of Material:
This module is designed to be used within a larger principles of marketing course.
This material could be used for an online principles of marketing course as the core material for the pricing chapter. The material could also be utilized in other courses as a pricing refresher or as reference material for pricing of products.
Both faculty and students would need to have access to the appropriate computer technology. For anyone involved in distance learning, this material would fit nicely into an online course.
Evaluation and Observation
All of the basic pricing theories and terminology are covered in this module. An enormous amount of information on pricing is presented with over 21 printed pages of colorful examples (e.g., setting a price, market penetration pricing, public policy pricing, etc.) The presentation is user-friendly and visually engaging. Various assignments are integrated into the material. These assignments are timely and draw upon students' personal experiences and observations.
For some students this module may feel overwhelming due to the volume of information, examples, and exercises. However, the volume provides instructors the ability to assign certain information, examples, and exercises to be completed.
Potential Effectiveness as a Teaching Tool
This module demonstrates an effective blend of theory and real world assignments and examples. The author demonstrates an impressive ability to get the students to participate and interact with each other -- something that is challenging to accomplish with distance learning. For example, the module provides ideas on pricing questions that can be posed within online discussion groups.
Ease of Use for Both Students and Faculty
The material is very user friendly and provides excellent use of graphics and examples to explain pricing. As with any student new to distance learning, there will be a learning curve and a period of adjustment. However, the ease of use of this material should speed up the learning curve.
As mentioned earlier, the volume of information and exercises may feel overwhelming to some students.
Other Issues and Comments:
This module is a nice example of how to make online/distance learning material engaging. Even if someone is not looking for pricing material, it would be worth looking at this module just to see how "to do" distance learning. There are lots of good ideas presented by the author that extend beyond the basic pricing content.