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Course Description

Pricing has become an increasingly important mechanism in maximizing a firm’s profits. The ease with which consumers comparison-shop has inspired firms to become more active pricers. Unfortunately, if you lack a proper understanding of the impact of price on demand (and contribution), changing prices can quickly erode your firm's profits. This course describes the impact of changing prices in a competitive environment and describes several methods for measuring demand sensitivity to price changes, or price elasticity.

The course begins with a strategic look at pricing and discusses the impact of price changes, including the anticipated reaction of your competitors. You will examine these impacts through a discussion of recent price changes during economic declines as well as a well-documented airline price war. Following this strategic discussion, you will use a set of tactical tools to evaluate the effect of a price action on demand and, ultimately, on profitability. You will have a chance to immediately practice what you've studied by participating in a pricing simulation game.

This course contains an optional module on Tableau, an interactive visualization software used for business intelligence. You can download a free copy of it to your desktop. While this is optional material, you can use Tableau skills for data analysis and presentations.

You are required to have completed the following course or have equivalent experience before taking this course:

  • Price and Inventory Controls

Faculty Author

Chris Anderson

Benefits to the Learner

  • Apply price sensitivity tactics to make pricing decisions
  • Use price elasticity and regression to maximize revenue
  • Visualize data in Tableau (optional bonus content)

Target Audience

  • General managers
  • Revenue managers
  • Marketing managers
  • Hospitality professionals responsible for financial performance

Applies Towards the Following Certificates

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Enroll Now - Select a section to enroll in
Type
2 week
Dates
Dec 11, 2024 to Dec 24, 2024
Total Number of Hours
10.0
Course Fee(s)
Contract Fee $74.00
Section Notes

IMPORTANT COURSE INFORMATION

  • This course includes a year of free access to Symposium! These events feature a week of live, highly participatory virtual Zoom sessions with Cornell faculty and experts to explore today’s most pressing hospitality topics. Throughout the year, you may participate in as many sessions as you wish. Attending a Symposium is not required to successfully complete the certificate program.
Type
2 week
Dates
Feb 05, 2025 to Feb 18, 2025
Total Number of Hours
10.0
Course Fee(s)
Contract Fee $74.00
Section Notes

IMPORTANT COURSE INFORMATION

  • This course includes a year of free access to Symposium! These events feature a week of live, highly participatory virtual Zoom sessions with Cornell faculty and experts to explore today’s most pressing hospitality topics. Throughout the year, you may participate in as many sessions as you wish. Attending a Symposium is not required to successfully complete the certificate program.
Type
2 week
Dates
Apr 02, 2025 to Apr 15, 2025
Total Number of Hours
10.0
Course Fee(s)
Contract Fee $74.00
Section Notes

IMPORTANT COURSE INFORMATION

  • This course includes a year of free access to Symposium! These events feature a week of live, highly participatory virtual Zoom sessions with Cornell faculty and experts to explore today’s most pressing hospitality topics. Throughout the year, you may participate in as many sessions as you wish. Attending a Symposium is not required to successfully complete the certificate program.
Type
2 week
Dates
May 28, 2025 to Jun 10, 2025
Total Number of Hours
10.0
Course Fee(s)
Contract Fee $74.00
Section Notes

IMPORTANT COURSE INFORMATION

  • This course includes a year of free access to Symposium! These events feature a week of live, highly participatory virtual Zoom sessions with Cornell faculty and experts to explore today’s most pressing hospitality topics. Throughout the year, you may participate in as many sessions as you wish. Attending a Symposium is not required to successfully complete the certificate program.
Type
2 week
Dates
Jul 23, 2025 to Aug 05, 2025
Total Number of Hours
10.0
Course Fee(s)
Contract Fee $74.00
Section Notes

IMPORTANT COURSE INFORMATION

  • This course includes a year of free access to Symposium! These events feature a week of live, highly participatory virtual Zoom sessions with Cornell faculty and experts to explore today’s most pressing hospitality topics. Throughout the year, you may participate in as many sessions as you wish. Attending a Symposium is not required to successfully complete the certificate program.
Type
2 week
Dates
Sep 17, 2025 to Sep 30, 2025
Total Number of Hours
10.0
Course Fee(s)
Contract Fee $74.00
Section Notes

IMPORTANT COURSE INFORMATION

  • This course includes a year of free access to Symposium! These events feature a week of live, highly participatory virtual Zoom sessions with Cornell faculty and experts to explore today’s most pressing hospitality topics. Throughout the year, you may participate in as many sessions as you wish. Attending a Symposium is not required to successfully complete the certificate program.
Type
2 week
Dates
Nov 12, 2025 to Nov 25, 2025
Total Number of Hours
10.0
Course Fee(s)
Contract Fee $74.00
Section Notes

IMPORTANT COURSE INFORMATION

  • This course includes a year of free access to Symposium! These events feature a week of live, highly participatory virtual Zoom sessions with Cornell faculty and experts to explore today’s most pressing hospitality topics. Throughout the year, you may participate in as many sessions as you wish. Attending a Symposium is not required to successfully complete the certificate program.
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