Service Pricing and Revenue Management
5 Questions
1 Views

Choose a study mode

Play Quiz
Study Flashcards
Spaced Repetition
Chat to lesson

Podcast

Play an AI-generated podcast conversation about this lesson

Questions and Answers

What makes service pricing strategy different and difficult?

  • Customers find service pricing easy to understand and ethical
  • Service pricing does not consider the time factor
  • Service pricing does not have implications of cost analysis
  • It is harder to calculate financial costs of creating a service process or performance than a manufactured good (correct)

    • What is the main focus of value-based pricing?

  • Monitoring competitors' pricing strategy
  • Emphasizing benefits received from the service
  • Setting prices relative to financial costs
  • Relating price to the value perceived by the customer (correct)

    • What is the significance of activity-based costing (ABC) in service pricing?

  • It relates price to value perceived by the customer (correct)
  • It helps in understanding net value
  • It emphasizes benefits received from the service
  • It focuses mainly on price

    • How is perceived value defined in service pricing?

    <p>The consumer’s overall assessment of the utility of a service based on perception of what is received and what is given</p> Signup and view all the answers

    What do low-cost carriers emphasize as the most important component of value?

    <p>Emphasize the benefits they receive from service as the most important component of value</p> Signup and view all the answers

    More Like This

    Use Quizgecko on...
    Browser
    Open
    Browser
    Browser