Presentation On PRICING STRATEGIES
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PRICING STRATEGIES Presentation Transcript:
1.PRICING STRATEGY IN
SERVICE INDUSTRY
2.Introduction
Service sector is the lifeline for the social economic growth of a country. It is today the largest and fastest growing sector globally contributing more to the global output and employing more people than any other sector.
In alignment with the global trends, Indian service sector has witnessed a major boom and is one of the major contributors to both employment and national income in recent times. The activities under the purview of the service sector are quite diverse
3.Indian Service Industry covers
Trade
Hotels and Restaurants
Railways
Other Transport & Storage
Communication (Post, Telecom)
Banking
Insurance
Dwellings, Real Estate
Business Services
Public Administration; Defence
Personal Services
Community Services
4. Pricing
Pricing is the process of determining what a company will receive in exchange for its products. Pricing factors are manufacturing cost, market place, competition, market condition, Quality of product.
5.SERVICE PRICING OBJECTIVE
Profit oriented objective- In order to generate high returns on service resources.
Volume oriented objective- In order to process large number of customers or their possessions.
6.FOUNDATIONS OF PRICING STRATEGY
7. Four Customer Definitions of Value
8.Pricing Strategies
When the Customer Defines Value as Low Price
9.Pricing Strategies
When the Customer Defines Value as Everything Wanted in a Service
10.Pricing Strategies
When the Customer Defines Value as Quality for the Price Paid
11.Pricing Strategies
When the Customer Defines Value as All That Is Received for All That Is Given
12.Determining the Total Costs of a Service to the Consumer
13.Trading off Monetary and Non- Monetary Costs
14.SERVICE PRICING –DIFFERENT AND DIFFICULT
It’s harder to calculate the financial cost of creating the service process than goods.
Variability in outputs and inputs.
Importance of time factor.
Difficult to understand for customer.
15.WHY SERVICE PRICES VARY
Inseparability and perish ability.
Creative ways to maximize the revenues and reduce per customer served.
Presentation of service in innovative manner.
Quality of service ingredients
Download
PRICING STRATEGIES Presentation Transcript:
1.PRICING STRATEGY IN
SERVICE INDUSTRY
2.Introduction
Service sector is the lifeline for the social economic growth of a country. It is today the largest and fastest growing sector globally contributing more to the global output and employing more people than any other sector.
In alignment with the global trends, Indian service sector has witnessed a major boom and is one of the major contributors to both employment and national income in recent times. The activities under the purview of the service sector are quite diverse
3.Indian Service Industry covers
Trade
Hotels and Restaurants
Railways
Other Transport & Storage
Communication (Post, Telecom)
Banking
Insurance
Dwellings, Real Estate
Business Services
Public Administration; Defence
Personal Services
Community Services
4. Pricing
Pricing is the process of determining what a company will receive in exchange for its products. Pricing factors are manufacturing cost, market place, competition, market condition, Quality of product.
5.SERVICE PRICING OBJECTIVE
Profit oriented objective- In order to generate high returns on service resources.
Volume oriented objective- In order to process large number of customers or their possessions.
6.FOUNDATIONS OF PRICING STRATEGY
7. Four Customer Definitions of Value
8.Pricing Strategies
When the Customer Defines Value as Low Price
9.Pricing Strategies
When the Customer Defines Value as Everything Wanted in a Service
10.Pricing Strategies
When the Customer Defines Value as Quality for the Price Paid
11.Pricing Strategies
When the Customer Defines Value as All That Is Received for All That Is Given
12.Determining the Total Costs of a Service to the Consumer
13.Trading off Monetary and Non- Monetary Costs
14.SERVICE PRICING –DIFFERENT AND DIFFICULT
It’s harder to calculate the financial cost of creating the service process than goods.
Variability in outputs and inputs.
Importance of time factor.
Difficult to understand for customer.
15.WHY SERVICE PRICES VARY
Inseparability and perish ability.
Creative ways to maximize the revenues and reduce per customer served.
Presentation of service in innovative manner.
Quality of service ingredients
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