Dr Brian's SmartaMarketing Blog Number 1

Dr. Brian Monger

Introduction

Pricing decisions are of major importance in service marketing strategy. As with other marketing mix elements, the price of a service should be related to the achievement of marketing and organisational goals and should be appropriate for the service organisation’s marketing program.

Service pricing principles and practices tend to be based on principles and practices used in pricing goods. As with goods, easy generalisations about pricing are difficult to make. There is as much diversity in the service sector as in the goods sector.

The great variety of environments in which service pricing decisions are made and the diversity of pricing practices which may apply, is partly reflected in the many different terms used to describe the prices of services.

Characteristics of Services and their Influence upon Service Prices

The characteristics of services as with all Products will influence prices set in markets. The influence of these…

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