Page 201 - DMGT510_SERVICES_MARKETING

Services Marketing Gopika Juneja, Lovely Professional University

Notes Unit 11: Pricing of Services

CONTENTS

Objectives
Introduction
11.1 Concept of Value and Price in Services

11.2 Uses and Objectives of Pricing
11.3 Framework for Pricing Decisions in Services

11.4 Pricing Approaches
11.4.1 Cost as a Basis for Pricing
11.4.2 Competitor-based Pricing

11.4.3 Demand-based Pricing
11.5 Pricing Strategies
11.5.1 New Service Pricing Strategy

11.5.2 Price Skimming Strategy
11.5.3 Service Portfolio Pricing
11.5.4 Tactical Pricing

11.5.5 Pricing Strategies for Public Sector Services
11.5.6 Internal Market Pricing

11.6 Summary
11.7 Keywords
11.8 Review Questions

11.9 Further Readings

Objectives

After studying this unit, you will be able to:
Describe the concept of price and value in services

State the objectives of pricing

Discuss various pricing approaches

Identify various pricing strategies


196 LOVELY PROFESSIONAL UNIVERSITY