Pricing Strategy of 10 Service Industry

1>Tourism Industry: In tourism industry pricing strategies depend on what value added services they are providing to the customers. For most tourism businesses setting prices will be more market based that is, what

do competitors with similar products and services charge within market. What are operating costs (fixed and variable). 2>Hospital Industry:
There are two methods to be used to set the prices of the hospitals. In first method, all item codes in the Charge Description Master (CDM) are increased at some constant percentage. In the second method selective price increases or decreases for each item code to achieve some stated overall charge increase. . The latter approach usually attempts to place price increases in areas where recovery opportunities are greater.

3>Banking Industry:
Pricing in the banking industry today is often focused on the companys own costs or the competitors prices. Whereas the customers perception of value and their expectations are given little regard, money is given away due to inadequate value extraction in pricing banking services. . Financial services value pricing focuses on determining the willingness-to-pay of different customer segments and setting the prices accordingly.

4>Hotel Industry: In hotel industry, the charges of room cannot be easily increased or decreased, according to the market demand the price of any room can vary the price of rooms depend upon the popularity of the hotels location and the type of the guest.

5>Education Sector: y y y y Experienced and qualified faculty they are providing. Depending on the location where institute is situated. University approved. What kind of placement they are providing.

6>Airlines Industry:
Pricing method whereby the selling price of a product is calculated to produce a particular rate of return on investment for a specific volume of production. The target pricing method is used most often by public utilities, like electric and gas companies, and companies whose capital investment is high, like automobile manufacturers. 7>MOBILE Telecommunication:

Pricing strategies are divided geographically and product packages when the company introduces its product company offer. Price changes when the companies introduce the new package and launched in market, when the other competitors changes price they also change the call rates and also introduce the other service.

8>ITES Sector: Pricing of ITES is depend on the services they provided like marketing services, human resource, Engineering, call centre, banking. 9> TRANSPORTATION Industry: The pricing strategies is measured on the reliability, frequency of the users trip, intervals between the carriers departures, minimized transfer or intermediate stopping points, and punctuality. 10> trade industry
y y y y

Cost-plus pricing - set the price at the production cost plus a certain profit margin. Target return pricing - set the price to achieve a target return-on-investment. Value-based pricing - base the price on the effective value to the customer relative to alternative products. Psychological pricing - base the price on factors such as signals of product quality, popular price points, and what the consumer perceives to be fair.