Pricing and Marketing Mix Models in Marketing Analytics
Course facts
- Payment: Free to learn, certificate paid
- Credits: CPD Credits
- Learning style: Self-paced, start anytime
- Format: Video Based
- Video access: Streaming Only
- Refund: Conditional Refund
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Learn pricing approaches such as skimming and dynamic pricing, and see how marketing mix models use advertising models and media data.
Pricing in marketing analytics means choosing what to charge when a product sells at several prices over several periods, and judging how customers respond to each choice. The lessons work through skimming, power block pricing, markdowns and dynamic pricing, then move on to marketing mix models, where cost analysis, a linear model and advertising equations tie media data to the effect of marketing decisions on customers.
What You Will Achieve
- Choose a pricing approach for a product sold at multiple prices over multiple periods.
- Apply price-based segmentation, price bundling and price sales promotions to pricing problems.
- Describe the linear model in marketing mix models and the equations behind advertising models.
- Use media data and cost analysis to compare advertising models and their impact.
Program Overview
Pricing Strategies and Methods
Introduces pricing in marketing analytics and the attributes of several pricing methods, with attention to how each one is applied in daily business.
- Skimming pricing
- Power block pricing and the strategies that support it
- Markdown and dynamic pricing
Solving Pricing Problems and Segmentation
Applies pricing to situations with multiple prices across multiple periods and to different groups of customers.
- Solving pricing problems
- Price-based segmentation
- Price bundling
- Price and sales promotions
Marketing Mix Models and Advertising Models
Shows how marketing mix models measure the effect of marketing decisions on customers through cost analysis, a linear model and advertising equations.
- Cost analysis in marketing mix models
- The linear model
- Advertising model equations and their impact
- Working with media data
Certificate Awarded (Paid)
Pass the course assessment to earn it. The course is free to study; the certificate is optional and has a fee.
Job Outlook
Pricing analysis and marketing mix modeling are used in marketing teams, media planning and ecommerce businesses, where prices, promotions and advertising budgets are set and reviewed with data.
- Marketing Specialist
- Media Buyer
- Digital Marketing Specialist
Good for: Marketing and ecommerce staff who set prices or plan advertising spend and want a structured look at the models behind those decisions.
Keep in mind: Power block pricing is shown mainly through how power and electricity companies use it, and the marketing mix lessons describe their models as concepts.
Bottom line: It pairs pricing tactics with marketing mix modeling, so one course covers both what to charge and how advertising spend is measured.
Frequently Asked Questions
What is power block pricing used for in the course?
The course looks at the features of power block pricing and how power and electricity companies apply it in their daily business. It also reviews strategies that can be adapted to support a power block approach.
Which pricing situations does the course address?
It deals with products sold at several prices over several periods, price-based segmentation, bundling and sales promotions, and it shows how markdown and dynamic pricing inform important business marketing decisions.
Which advertising topics are part of the marketing mix lessons?
The second module covers the impact of advertising models, the equations behind them, a linear model and the use of media data, alongside cost analysis within marketing mix models.
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