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Chapter 6:
Setting Prices and
Implementing
Revenue Management
Chapter 6 Page 1
Overview Of Chapter 6
Services Marketing
Chapter 6 Page 2
Services Marketing
Effective Pricing is
Central to Financial Success
Chapter 6 Page 3
Services Marketing
How can firms define a unit of service and establish basis for
pricing?
Chapter 6 Page 4
Services Marketing
Seek profit
Cover costs
Build demand
-Demand maximization
-Full capacity utilization
Chapter 6 Page 5
Services Marketing
Pricing Strategy
As Represented by the Pricing
Tripod
Chapter 6 Page 6
Services Marketing
Chapter 6 Page 7
Services Marketing
Value to customer
Competition
Costs
Chapter 6 Page 8
Services Marketing
Chapter 6 Page 9
Services Marketing
Chapter 6 Page 10
Value-Based Pricing:
Understanding Net Value
Services Marketing
Chapter 6 Page 11
Value-Based Pricing:
Strategies for Enhancing Net Value
Services Marketing
Chapter 6 Page 12
Services Marketing
Purchase
Search Costs*
Time
Physical Effort
Purchase and Service
Encounter Costs
Operating Costs
Incidental Expenses
Psychological Burdens
Sensory
Burdens
Necessary
Follow-up
Problem
Solving
Chapter 6 Page 13
Competition-Based Pricing
Services Marketing
Chapter 6 Page 14
Competitive-Based Pricing
Services Marketing
Chapter 6 Page 15
Services Marketing
Revenue Management:
What it is and How it works
Chapter 6 Page 16
Services Marketing
Perishable inventory
Chapter 6 Page 17
Services Marketing
Chapter 6 Page 18
Price Elasticity
Services Marketing
Chapter 6 Page 19
Services Marketing
Product-Related Fences
Rate Fences
Examples
Basic Product
Amenities
Service Level
Chapter 6 Page 20
Services Marketing
Transaction Characteristics
Rate Fences
Examples
Time of booking or
reservation
Location of booking or
reservation
Chapter 6 Page 21
Services Marketing
Consumption Characteristics
Rate Fences
Example
Chapter 6 Page 22
Services Marketing
Buyer Characteristics
Rate Fences
Examples
Frequency or volume of
consumption
Group membership
Chapter 6 Page 23
Services Marketing
Chapter 6 Page 24
Services Marketing
Chapter 6 Page 25
Services Marketing
hard to understand
misleading advertising
hidden charges
Chapter 6 Page 26
Services Marketing
Chapter 6 Page 27
Services Marketing
Putting Service
Pricing into Practice
Chapter 6 Page 28
Pricing Issues:
Putting Strategy into Practice
Services Marketing
Chapter 6 Page 29
Services Marketing
1. How much
to charge?
2. What basis
for pricing?
Completing a task
Time based
Chapter 6 Page 30
Services Marketing
Mail/bank transfer
In advance
3. Who should
collect
payment?
4. Where should
payment be
made?
5. When should
payment be
made?
Chapter 6 Page 31
Services Marketing
Cash
Token
Vouchers
6. How should
payment be
made?
7. How to
communicate
prices?
Chapter 6 Page 32
Summary
Services Marketing
Cost-based pricing
Competition-based pricing
Value-based pricing
Chapter 6 Page 33
Summary
Services Marketing
Revenue management
Hidden charges
Chapter 6 Page 34