Different types of factors that can affect service pricing are mentioned below:
1. Costs Involved in Providing Service and Breakeven Analysis
The accurate analysis of the...
In most services, there is an inverse relationship between price levels and demand levels. Demand tends to fall as price rises.
This phenomenon has implications...
There are the following costs involved in service delivery:
1. Monetary Costs
There will be fixed, variable and financial costs associated with the production of the...
The foundations underlying pricing strategy can be described as a tripod, with the three legs being named costs, competition, and value to the customer.
The...
Any decision on pricing strategy must be based on a clear understanding of the organization’s objectives. Ther e are two basic categories of pricing...
The only component of the marketing mix that generates returns is called price, however, others only generate costs.
Price can be easily altered, whereas, other...