Operation Valuation

Abstract

Although marketing education has seen a dramatic shift toward hands-on, experiential learning in recent years, the teaching of pricing has fallen behind complementary elements of the marketing mix in pedagogical execution. Although the teaching of pricing has shifted focus from economic-based models to value-based pricing in theory, available pedagogical tools for teaching value-based pricing are scarce. This article proposes and outlines an experiential class assignment that engages students in a real-world, applied, market exchange environment. While avoiding the inherent risks of using actual money for transactions, this assignment enables students to explore the consumer motivations and perceptions of value central to value-based pricing.

Marketing education for sustainable development

“…Papers belonging to this cluster evaluate marketing pedagogies, for example, regarding their impact on students’ motivation (Robson, 2019) or students’ acquisition of discipline-specific knowledge (Kemp et al , 2019; Mills and Treen, 2016) and critical thinking skills (Dahl et al , 2018). Characteristics include perceived student learning (what students think they have learnt) and actual student learning (typically expressed in grades).…”

Building a Hierarchical Enablers Framework for Service Business Model Innovation for Sustainable Performance: Evidence from Ghana’s Electricity Sector

“…Value-based pricing is a strategy by which the price of a service is determined based on the customer's perceived value of the service [86] and is underpinned by factors such as brand image, differentiation, premium pricing strategy, and service proposition resonance [87]. The cost of the service is equated to the benefits it provides to the customer and the focus is on the customer's perception of the value of the product or service and creating long-term value for the buyer, rather than simply covering the cost of providing the service [88]. According to [89], this method is particularly well suited for digital products, where pricing is often based on consumer value perception, which has implications for a firm's economic sustainability.…”