Distinguish the pricing of service from product
Date Submitted: 09/10/2006 03:50:33
Category: / Social Sciences / Psychology
Length: 2 pages (630 words)
Category: / Social Sciences / Psychology
Length: 2 pages (630 words)
Price is a "language" to customers. If a marketer does not pay attention to the price structure that the market prefers, he may be unable to achieve his company goal, which is gaining profit. Why service pricing is so important to marketers? It is significant because service does more than just provide a means to drive sales. Marketers can capture and maintain their market share and build sales in the their particular industry. In these …
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…customers. In addition, the misprice of the services by provider is an issue as well. In my opinion, knowing that the services are harder to price than product because of its intangible characteristic, marketers should emphasize on their customer perspective. They should conduct a survey before developing a service to satisfy the customers' requirement. As a result, customers are willing to pay for the price because the services provided have met their needs and wants.
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