Pricing for Profitability: Value Creation Strategies
Discover a multidisciplinary, data-driven approach to optimize your firm's revenue —and create long-term value for your organization and customers. You'll leverage cutting-edge techniques from marketing, data science, AI, behavioral science, and microeconomics to create pricing and monetization strategies that give your firm a competitive advantage.
Changes in consumer behavior and technological advancements are making traditional pricing strategies less effective. Forward-thinking companies are now leveraging new analytical tools, technologies, and the latest in behavioral research to implement a value-based pricing approach.
If your organization hasn't examined its pricing strategy recently -- and implemented a value-based approach -- it may be surrendering not only a significant amount of profit but value, both to your company and the customers you serve.
In this program, you'll learn The Chicago Booth Approach to pricing: a customer-centric, value-based, analytical approach to making decisions. You'll gain proven frameworks and incorporate multiple disciplines such as marketing, data science & AI, behavioral science, and microeconomics to increase profitable growth. You'll emerge from the program with a path to monetizing your organization's opportunities in a way that benefits customers, ultimately promoting competitive advantage and significant growth.
By attending, you will:
- Learn how to combine data with the latest analytical tools—potentially transforming your firm's profitability and ability to compete in the marketplace
- Develop a customer-centric approach to pricing, aligning pricing with each consumer's perceived value and willingness to pay
- Gain insights into how customers make purchasing decisions by leveraging research from the field of behavioral economics
- Determine which data and methods to use to make pricing decisions
- Gain a deeper understanding of how pricing is intertwined with your business goals, customers, and market competition
- Learn how to launch new products at the right price
- Acquire the frameworks to successfully implement a pricing strategy across your organization's multiple brands or product lines
WHY THIS PROGRAM?
This unique program combines a blend of faculty expertise, case studies, in-class exercises, and networking opportunities with peers around the globe.
- The program's renowned faculty have collaborated with companies such as Lyft and ZipRecruiter, and they've routinely brought The Chicago Booth Approach to the field by running pricing experiments with top organizations that have generated significant upside. You'll learn firsthand from these results.
- Hear from a prominent guest speaker who will share how they've created customer value in a traditional and constrained industry.
- Network with other executives transforming pricing strategy for their firms, and learn collaboratively with them through case studies, a simulation, and group discussion
- Mid- to senior- executives involved in pricing, monetization, and revenue management decisions; functional areas include Marketing, Finance, Product Management, Sales, RevOps/Chief Revenue Officers, Business Development, Operations, Engineering, Analytics, Strategy, Data Science, and general management.
- Any industry—this program is applicable to a wide range of industries; case studies and examples in this program range from manufacturing, tech, and B2B to regulated industries, two-sided marketplaces, and services.
Group Enrollment: This program is a good fit for groups of executives, as the course fosters a cross-functional approach to pricing and monetization.
Economic Value to the Consumer
- Monetizing customer value: A scientific approach to ensure that pricing decisions monetize the commercial opportunity
- A framework to measure value and incorporate value into marketing decisions
Pricing Techniques
- Elasticity analysis, experimentation, conjoint analysis
- Strategies in times of inflation
- Pricing in a competitive market
- Developing a customer-centric mindset
- Channel pricing
- Segmented pricing: personalized pricing and product line pricing
Behavioral Economics — the psychology of customer purchasing decisions
- Creating an ideal environment for purchases: choice architecture and nudging
- Present-biased preferences in the market
- Customer attention/inattention to prices
- Loss aversion and pricing
- What makes a price 'fair'?
Customer Lifetime Value
- CLV analysis and pricing
- Customer capture and retention
- Metered pricing, nonlinear pricing, and volume discount
- System-based pricing strategies
note: curriculum subject to change
Jean-Pierre Dubé
His research interests lie at the intersection of industrial organization and quantitative marketing. He has conducted empirical studies on the formation of consumer preferences for branded goods, price discrimination, advertising, food deserts and nutrition policy, and the role of misinformation in consumer demand. This empirical focus is also reflected in his MBA course on pricing strategies, which is designed to teach students how to apply marketing models and analytics to develop pricing strategies in practice. Several of his recent research projects are in collaboration with companies in the US and in China.
Dubé’s work has been published in the American Economic Review, Econometrica, The Journal of Marketing Research, The Journal of Political Economy, Management Science, Marketing Science, Quantitative Marketing and Economics, the Quarterly Journal of Economics and The Rand Journal of Economics. He is currently Department Editor at Management Science, and has previously served as an area/associate editor for The Journal of Marketing Research, Management Science, Marketing Science, and Quantitative Marketing and Economics. He was the recipient of the 2023 Hillel J. Einhorn Excellence in Teaching Award, the Chicago Booth Class of 2016 Phoenix Award for service to the extracurricular and community activities of the graduating class, the 2008 Paul E. Green Award for Best paper in the Journal of Marketing Research and of the 2005 Faculty Teaching Excellence Award for Evening MBA and Weekend MBA Programs at the Chicago Booth. He was also the recipient of several MSI Research Grants, a Kauffman grant, and a Yahoo! Faculty Research Grant.
Dubé earned a bachelor's degree from the University of Toronto in quantitative methods in economics in 1995, a master's degree in economics in 1996, and a PhD in 2000 from Northwestern University. He joined the Chicago Booth faculty in 2000.
Devin Pope
Devin Pope is the Steven G. Rothmeier Professor of Behavioral Science and Economics at the Booth School of Business at the University of Chicago. Pope is a behavioral economist that researches a variety of topics at the intersection of economics and psychology. He has published work in top journals of economics (Quarterly Journal of Economics, American Economic Review, Journal of Political Economy, etc.), general science (Science, Nature, etc.), and Management and Psychology (Psychological Science, Management Science, etc.). His research primarily uses observational data and studies how psychological biases play out in important economic markets.
Prior to joining Chicago Booth faculty in 2010, Pope was on the faculty at the Wharton School at the University of Pennsylvania. He earned a PhD in economics from UC Berkeley in 2007 and a BA in economics from Brigham Young University in 2002. Pope also worked as an Amazon Scholar from 2019-2021 and is currently a co-editor at the American Economic Review.
What participants say about Pricing for Profitability: Value Creation Strategies
"I believe it is part of our nature to constantly strive to learn and absorb anything and everything we can. Personally, I find it fulfilling to study new topics that I might not be as familiar with and move forward in my career. Studying value creation and pricing decisions were essential for me to contribute to my organization’s profitability and sustainability."
—Bridget Brizek, Director, Alverno Laboratories
Read a Q&A with Bridget on why she decided to enroll in the program.
“The program is excellent for anyone who wishes to gain a better insight into why companies make strategic decisions from a financial analysis point of view. I learned not only the how but also the why behind key financial decisions.”
—Dr. Douglas Hutchens, VP, Global Development and Chief Veterinary Officer, Bayer Animal Health, Bayer HealthCare
“The Chicago Booth faculty provided a highly engaging and thoughtful program. I am leaving the program with both technical and behavioral strategies that I’m excited to share with my organization.”
—Lara Schneider, Senior Marketing Manager, Toshiba Corporation
“I was able to rethink how pricing can be set with the strengths and weaknesses of my product.”
—GC Chew, Head of Business Development and Operations, Conduit
“I now see pricing in a much higher perspective as an efficient way to optimize my company’s pricing strategy.”
—Ken Lin, CEO & Co-Founder, Abies Asset Management Consulting Co., Ltd.
“I enjoyed learning something new. I.e., Economic value to the customer, while simultaneously revisiting microeconomics, which I hadn’t consciously thought of in decades, but now I am with a new perspective.”
—Jeff Draper, Vice President, Isco Industries, Inc.
“I gained a conceptual understanding of how to focus on customer value and competitor reference prices to understand product differentiation first. Then, I could analyze demand at different price points to understand elasticity.”
—Justin Makinson, Senior Director, Financial Planning & Analysis, Cox Automotive, Inc.
Advance Registration Benefit
When you commit your attendance by the specific expiration dates in 2025, you’ll benefit through financial savings. The savings will be automatically applied during the registration process. For more information, review our Advance Registration Benefits FAQs.
- April 07—11: $10,500 fee if registered by January 14.
- September 15—19: $10,500 fee if registered by June 14.
This program typically runs twice a year, Spring and Fall.
Contact us to learn more about our special pricing for group enrollment or ways we can work with you to support your organization's education budgets.