Pricing Strategy and Pricing Offers in Service Marketing,

Front

What is the main goal of a pricing strategy in service marketing?

Back

To determine the best price for attracting and retaining customers

Front

What is cost-plus pricing?

Back

Setting prices by adding a fixed percentage profit to service costs

Front

What is value-based pricing?

Back

Pricing services based on how much customers perceive them to be worth

Front

Which pricing strategy involves setting a low initial price to attract customers?

Back

Penetration pricing

Front

What is psychological pricing?

Back

Setting prices to make them look more attractive (e.g., $9.99 instead of $10)

Front

What is demand-based pricing?

Back

Adjusting prices according to changes in customer demand

Front

What is price bundling?

Back

Selling multiple services together at a lower price

Front

What is skimming pricing?

Back

Setting a high initial price and lowering it over time

Front

What is a subscription-based pricing model?

Back

Customers pay a regular fee for continuous access to a service

Front

Why do companies use premium pricing?

Back

To position their service as high-quality and luxurious