Innovation and Pricing Strategies

Introduction

Companies invest substantial resources in developing new products and services, yet many innovations fail to create sufficient value for customers or to generate sustainable revenue for firms. Successfully bringing innovations to market requires not only strong ideas, but also a structured approach to understanding customer needs, testing concepts, and making strategic innovation decisions. Furthermore, innovative products must be introduced to the market in the “right” way, as pricing strategies can have substantial implications for market success and profitability. This course focuses on how firms create and capture value by integrating innovation and new product development with pricing strategy.

The course is organized into two modules. The first module focuses on innovation strategy and examines the logic and structure of the innovation process, including customer insights, idea development, concept testing, and product portfolio decisions. The second module focuses on pricing strategy and addresses how firms capture value through pricing decisions, covering topics such as pricing strategies, consumer choice behavior, reference prices, price fairness, bundling, and methods for measuring willingness to pay.

Course content

The course examines how firms create and capture value through innovation and pricing. The first module covers key stages of the innovation process, including customer insight generation, idea development, concept development and testing, and innovation strategy and product portfolio decisions. The second module focuses on pricing strategy, addressing consumer choice, reference prices, price fairness, bundling, and methods for measuring willingness to pay and price response.

Disclaimer

This is an excerpt from the complete course description for the course. If you are an active student at BI, you can find the complete course descriptions with information on eg. learning goals, learning process, curriculum and exam at portal.bi.no. We reserve the right to make changes to this description.