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Chapter 17. Pricing of Services. Three Key Ways that Service Prices Are Different for Consumers Approaches to Pricing Services Pricing Strategies that Link to the Four Value Definitions. Pricing Quiz. Which dentist would you choose for a filling in your tooth?.

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Pricing of services

Chapter

17

Pricing of Services

  • Three Key Ways that Service Prices Are Different for Consumers

  • Approaches to Pricing Services

  • Pricing Strategies that Link to the Four Value Definitions


Pricing quiz
Pricing Quiz

  • Which dentist would you choose for a filling in your tooth?


Customers often lack knowledge of service prices
Customers Often Lack Knowledge of Service Prices

  • Customers often lack reference prices for service

  • Service variability limits knowledge

  • Providers are unwilling to estimate prices

  • Individual customer needs vary

  • Collection of price information by customers is difficult

  • Prices are not visible


The role of non monetary price
The Role of Non-monetary Price

  • Time costs

  • Search costs

  • Convenience costs

  • Psychological costs

Do you trade time for money?


Price as an indicator of service quality
Price as an Indicator of Service Quality

Can price attract somecustomers?


Price as an indicator of service quality1
Price as an Indicator of Service Quality

InfersHigh Quality Service

Infers Low Quality Service



A customer focused approach to the pricing process
A Customer-Focused Approach to ServicesThe Pricing Process






Pricing strategies when the customer defines value as all that is received for all that is given
Pricing Strategies When the Customer Defines Value as All that Is Received for All that Is Given


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