Pricing: Strategy and Tactics

Learn how to strategically manage pricing to defend or increase your profitability, even in highly competitive markets.

Too often, managers treat pricing as a tactical problem. By pricing to cover costs, they undermine profit. By pricing for competitive advantage, they undermine value. In fact, pricing products and services is a strategic challenge that requires insight, analysis, and perspective.

This program introduces senior managers and executives responsible for pricing decisions and approvals to the theory and techniques needed to understand strategic pricing and implement it in their own organization. The program will help you use price to achieve strategic objectives, successfully introduce new products to the market, respond to significant price competition, and achieve prices that reflect the true value of your products.

By attending this program, you will:

  • Explore the real financial implications of pricing decisions and when it makes sense to compete on price and when it doesn't.
  • Learn how to change customers' price perceptions to capture more value and determine which alternatives to price competition are appropriate for your business.
  • Use pricing to strategically guide a business to long-term profitability, rather than reacting to solve short-term challenges.


Chicago Booth, Gleacher Center, Chicago, IL

This program is designed for senior managers and executives of companies who analyze, recommend, or approve pricing decisions. It is especially valuable for directors of marketing, finance, sales, and planning and for managing directors and presidents of smaller companies who are introducing new products, facing significant price competition, or failing to achieve prices that reflect the value they deliver.

Sanjay K. Dhar

James H. Lorie Professor of Marketing

Sanjay Dhar has been a Chicago faculty member since 1992. Many sources have recognized Professor Dhar for his excellence in teaching. He received the 2012 Hillel Einhorn Teaching Award voted by executive MBA students in North America, 2008 Hillel Einhorn Teaching Award voted by executive MBA students in Asia, the prestigious McKinsey Teaching Award in 2000 awarded once every 2 years, was cited among the outstanding faculty in Business Week's Guide to Best Business Schools (McGraw-Hill, 1997, 1999 and 2001), and in 1994 was awarded the Emory Williams Teaching Award by students for outstanding teaching performance. In 2006, the Economic Times (India) identified Professor Dhar as one of twelve “Indians who have made a global impact on marketing research and thought”. He was also rated as one of 6 "must-have" professors at Chicago Booth by Veritas Prep in the 2010 Annual Report on Chicago Booth.

Dr. Dhar received the 2008 Paul Green Award which recognizes the best article in the Journal of Marketing Research. Dhar was honored for his research “Consumer Packaged Goods in the United States: National Brands, Local Branding”. This article was recently nominated as one of the finalists for the 2012 William O’Dell award. The William O’Dell Award honors the article published in the last 5 years that has made the most significant, long-term contribution to marketing theory, methodology, and/or practice. In addition he has won the 1995 John D. C. Little Best Paper award for his research “The Introduction and Performance of Store Brands” and an Honorable Mention Award for the 2003 William R. Davidson Awards for his research “Effective Category Management Depends on the Role of the Category”.

Dr. Dhar’s research and teaching focuses on Advertising Strategy; Brand Management; Marketing Strategy; Pricing and Promotion Strategy; Private Labels; Consumer Promotion Evaluation and Planning; Internet Marketing; New Product Development, Management and Strategy; Retail Management Best Practices, Loyalty Reward Programs, Every Day Low Pricing (EDLP); Trade Promotions; Category Management; Purchase incidence, and Brand choice. He has published widely in leading academic journals he is also on the Editorial Board of several top journals in marketing.

Dr. Dhar is considered a leading expert in marketing and is regularly interviewed by leading newspapers, news agencies, and business magazines and has been interviewed by major television programs. He is frequently invited as a keynote or featured speaker in company management conferences, major industry association meetings and has also conducted research studies sponsored by major firms and trade associations. He has also provided consulting to, and conducted training sessions with, FORTUNE 100 companies and has served as an expert witness.

He earned his doctoral degree in management from the University of California at Los Angeles in 1992. Prior to that, he served in several management positions at Lipton India Ltd.

In Executive Education, Professor Dhar is the academic director of New Product Innovation, Development and Implementation Strategies and Pricing: Strategy and Tactics.

Georg Müller

Managing Director, Deloitte Consulting

Georg Müller is a Managing Director at Deloitte where he specializes in helping firms develop and implement profitable growth strategies.  He serves clients in manufacturing, automotive, distribution, technology, healthcare, and consumer products.  Past work includes transactional assessments to identify near-term margin opportunities, pricing for new product introductions , designing channel incentive programs, creating new revenue models to capture value more efficiently, and building strategies to address competitive entry.

Georg started his career as Assistant Professor at the Leavey School of Business at Santa Clara University where his courses on marketing strategy won teaching awards.  Prior to joining Deloitte, Georg served as Vice President of a start-up company specializing in health analytics.  The company was acquired by one of the nation’s leading clinical laboratory companies.

Georg is a frequent presenter at industry conferences such as the Professional Pricing Society, the Association of International Product Marketing and Management, and Eye for Retail. He has published articles on pricing, marketing strategy, and economics.

He received his MBA and PhD in Marketing and Statistics from the University of Chicago Booth School of Business.

Programs taught by this instructor include:


Strategic versus Tactical Pricing: Asking the Right Questions

  • Why pricing "to cover costs" undermines profit
  • Fundamentals of value-based pricing
  • Creating value - the use of EVC
  • Communicating value and value maps
  • Why pricing "to achieve sales goals" wastes profit
  • Why pricing "for competitive advantage" undermines value

Costing and Financial Analysis

  • Determining the relevant costs for pricing
  • Incremental costing versus fully allocated costing
  • The importance of contribution margin
  • Calculating break-even sales changes
  • Analyzing the profitability of price changes

Managing Price Competition

  • Mastering the pricing "game" and planning for profitable competition
  • Using information strategically
  • Managing resources for competitive advantage
  • Understanding the legal issues in pricing

Pricing Psychology

  • Understanding how customer information processing strategies affect price perceptions and judgments
  • Determining effective pricing communication tactics
  • Managing customer risk to maximize value

Strategic Pricing Tools and Application

  • Determining the product/service economic value
  • Creating tiered offerings to drive margin and growth
  • Using price analytics to identify opportunities for policy and process change

Setting Profit-Maximizing Prices

  • The role of value
  • Segmented pricing
  • Accounting for price sensitivity factors
  • Using price to achieve strategic objectives
  • Managing price over the life cycle

Organizational Transformation

  • Building a pricing capability
  • Road map for transitioning to strategic pricing
  • Planning for organizational change

Comprehensive, thought provoking, applicable. An overall excellent experience that provided me with a rigorous basis for making pricing and marketing strategy decisions.

—Mark Caylor, Manager, Commercial Transactions, Boeing Satellite Systems

High value seminar and discussions. Very thought provoking. I am eager to apply it and assist moving my company forward.

—Jeffrey Lillich, CFO, Tempur Pedic Inc.

It was a very beneficial class and we actually used some of the strategies learned over the immediate week this weekend to put together a tiered multi-option unbundled value package for a quick turnaround government quote. The package was sent out on Monday and we secured every line item yesterday due to the presentation of the quote package.

—Chris Norch, President, Denison Industries

Managers who believe that the pricing process is under their control should take this course to understand the potential damage they could be driving to the profit of their companies, and also this course would help them to understand the challenges that are involved as decision maker.

—Francisco Canzoneri, Planning Supervisor, Petroleos de Venezuela

As a CFO of a small/mid-sized company, I found it very useful to listen to and interact with experts in marketing and pricing. Several of the presentations yielded new ideas which should be addressed in my company's strategic discussions.

—Tom Friezen, CFO, Dakota Growers Pasta Co.

Overall, a very good course. Good content coverage and excellent translation of principles to real world situations. The instructors compliment each other well in areas of organization, experience and energy. Each seems very in touch with what is happening in industry and what are the current strategies for effective pricing tactics.

—John Eshleman, Site Manager, SPI Pharma

This program effective tools I plan to take back to the office. The tools reviewed in our session will allow us to be more proactive in establishing our pricing strategy. We will be better prepared to quickly address changes in market conditions.

—Mark Pieroni, Director of Finance, Scientific-Atlanta, Inc.

The class is an absolute requirement for any person who is tasked to be a change agent for their organization's pricing strategy

—Michael Maddie, Finance Manager, Best Buy

 The instructors provided excellent insight and real world illustrations of the strategic power of pricing structure and policy in business. Everyone in management will benefit from these principles and techniques

- Charlie H. Rogers, Director of Customer Service, FMC FoodTech Inc.

This was an excellent class that touched on the key strategic points on pricing, profit, and understanding risks and understanding how to promote value of your products and services.

—A.J. White, VROD Assembly Process Lead, Harley Davidson Motor Company

Very focused, practical. It gives the right basic framework to think about pricing as a major profitability driver.

—Antonio Ferreira Managing Director, Johnson & Johnson Produtos Proffissionais - Brasil


Please check back here soon for upcoming 2021 program dates.