Inhalt: Managers can use economics to strategize and solve a variety of business problems, from the mundane to the mission critical. In this course, IMD Professor of Strategic Marketing Stefan Michel explains how to use economic theory to answer strategic questions such as... What are customers buying? (demand theory) What should we produce? (production theory) Which costs do I need to worry about now? (cost theory) What market am I in? (competition theory) What should we charge for it? (pricing theory) To understand what managerial economics looks like in practice, Stefan explains how Google''s auction-based advertising system employs the principles of game theory and how understanding this can help decision makers to outmaneuver their competitors. Umfang: 01:20:39.00
Inhalt: Are you charging the price you deserve? You might be able to increase revenue through value-based pricing, a strategy in which you set prices based on the perceived value to customers instead of on cost. In this course, IMD professor Stefan Michel lays out the differences between cost-based and value-based pricing, while detailing the key capabilities of value-based pricing: superior customer insights, an understanding of your market, and the abilities to manage prices and apply pricing psychology. Along the way, explore the benefits of customer segmentation and the concept of pricing as pain management, as well as how to apply psychological principles to affect how customers perceive prices. Umfang: 00:47:18.00
Inhalt: Service innovation means changing the way you serve your customers to create greater value for them and deliver more revenue for your organization. IMD Professor of Service Management Stefan Michel shows you how to identify service innovations-process innovations, new services, and new service-driven business models-and then embed them into your business. Once you understand service innovation, you can design and implement your own innovations. Each chapter combines real-world case studies with a methodological framework to help you become a better "idea hunter" for service innovation. After you identify an innovative model, you can align and execute your innovation by applying the customer star model and by embedding your innovation approach in your overall business strategy. Umfang: 00:58:08.00
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