Question

. What are the three types of pricing strategies services that services employ? Using a real...

. What are the three types of pricing strategies services that services employ? Using a real life example (Six Flags, The Brewers, etc.) illustrate each strategy.

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Answer #1

Different type of pricing structure that services employ include:-

1. Odd-even pricing: this type of pricing strategy is used by retailers and services such as gas station which essentially lowers the price of a product to an odd number for example from $5 to $4.99 which creates a sense of lower pricing in the mind of the people. Eg. Walmart and gas stations.

2. Experience curve pricing: takes into account that the unit cost of a particular product or service declines 10 to 30 percent as the company's experience I producing and selling them doubles. This type of pricing strategy is used in the electronic industry eg. Sony and cannon.

3. Prestige pricing strategy: which allows the companies to present product and services at a premium price point to only attract status-conscious consumers looking for quality. Eg. Rolls Royce cars

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