Explain any three pricing strategies adopted by the firm under service

1.	Explain any three pricing strategies adopted by the firm under service marketing mix.
Answer» Pricing strategies adopted by the firm under service marketing mix: 1. Value Pricing (EDLP – Every Day Low Pricing): here, the marketer promises consumers the lowest available price. 2. Promotional Pricing: The concept of psychological discounting (Rs.99, Rs.49, etc.) is used to attract customers. 3. Differentiated pricing i.e. difference in rate based on peak and non-peak hours or days of shopping is also a pricing technique. 4. Bundling: it refers to selling combo-packs and offering discount to customers. The combo-packs add value to customer and lead to increased sales.

Explain any three pricing strategies adopted by the firm under service marketing mix.

Answer»

Pricing strategies adopted by the firm under service marketing mix:

1. Value Pricing (EDLP – Every Day Low Pricing): here, the marketer promises consumers the lowest available price.

2. Promotional Pricing: The concept of psychological discounting (Rs.99, Rs.49, etc.) is used to attract customers.

3. Differentiated pricing i.e. difference in rate based on peak and non-peak hours or days of shopping is also a pricing technique.

4. Bundling: it refers to selling combo-packs and offering discount to customers. The combo-packs add value to customer and lead to increased sales.

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