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picture1_Pricing Strategies Ppt 67855 | Hoffman5e Ch06 Instructor


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File: Pricing Strategies Ppt 67855 | Hoffman5e Ch06 Instructor
chapter objectives discuss the concept of perceived value as it pertains to comparing total customer cost to total customer value understand the special considerations of service pricing as they relate ...

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                                          Chapter Objectives
          •     Discuss the concept of perceived value as it pertains to comparing 
                total customer cost to total customer value.
          •     Understand the special considerations of service pricing as they 
                relate to cost, demand, customer, competitor, profit, product, and 
                legal considerations.
          •     Discuss the pros and cons of using cost-based pricing in service 
                pricing decisions.
          •     Discuss the circumstances under which price segmentation is most 
                effective.
          •     Explain satisfaction-based, relationship, and efficiency approaches 
                to pricing and provide examples of service firms that are using each 
                of these pricing strategies.
                                             ®
                  © 2017 Cengage Learning . May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 
                                                         Opening Vignette: 
                                       Pay What You Can Restaurants
          •     The “Pay What You Can” movement began at Salt Lake City’s One 
                World Café more than 12 years ago
          •     Denver is now home to three such restaurants
          •     Customers can pay for their meals with cash or labor, or nothing at all
          •     The business model is simple: 
                  – Feed all customers, regardless of their ability to pay
                  – Ask those who can afford it to contribute a little more to help others
          •     There are no set prices on the menu
          •     These restaurants bring together people from all walks of life, rather 
                than only the poor 
          •     Entrepreneurs around the country are considering opening these 
                restaurants
                                             ®
                  © 2017 Cengage Learning . May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 
                                              The Art of Pricing
          • Pricing policy is the last stronghold of 
                medievalism in modern management…[Pricing] 
                is still largely intuitive and even mystical in the 
                sense that the intuition is often the province of 
                the big boss (Dean, 1947)
          • Pricing is approached in Britain like Russian 
                roulette—to be indulged in mainly by those 
                contemplating suicide (Chief Executive, 1981)
                                             ®
                  © 2017 Cengage Learning . May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 
                                                           Figure 6.1: 
                                      Buyer’s Perception of Value
                                    ®
          © 2017 Cengage Learning . May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or 
                                                                    in part. 
              Figure 6.2: Unique Differences Associated with 
                                                       Service Prices
                                    ®
          © 2017 Cengage Learning . May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or 
                                                                    in part. 
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