SERVICES MARKETING

PRICING STATEGIES

GROUP-1
RAKESH PATEL
SATISH TRIPATHI
PARWEZ KHAN
HARSHA KHATRI
SEC-MKT 1
1 FILL IN THE BLANKS
…………………….. refers to an instance where pricing is the key element of
the marketing mix
ANS. Promotional pricing 
2…………………….. (also called prestige pricing) is the strategy of
consistently pricing at, or near, the high end of the possible price range
to help attract status-conscious consumers.
Ans . Premium pricing 
3………………………….. is the practice of selling multiple units of an item for
a single price
Ans . multiple pricing.
4.What pricing strategies nike utilizes?
Ans.Nike uses Price Leadership strategy and value based pricing.
 
5.The price charged for products and services is set artificially low in
order to gain market share?
Ans.Penetration Pricing
6.The approach is used when the marketer wants the consumer to
respond on an emotional, rather than rational basis?
Ans .Psychological Pricing.
 
7.A short term discounted price offered to stimulate sales
Ans .Promotional discounts
8.The Pricing Tripod of pricing strategies consists of?
Cost ,competition and …………………….?
Ans ,value for money
9.Value exchange will not take place unless customer sees
………………….net value in transaction?
Ans . positive
10.The Three main foundations to pricing a service are?
Cost-based pricing
Competition-based pricing and…………………………………….?
Ans. Value-based pricing
 
11.PRICING STRATEGIES ARE TRIPOD COSTS, COMPETITION AND ………………….
ANS. VALUE OF CUSTOMER
12.MONETARY PRICE IS NOT ONLY PERCIEVED OUTLAY IN PURCHASING USING A SERVICE.
TRUE\FALSE.
ANS .TRUE
13.TIME COST, PHYSICAL COST PSYCHOLOGICAL COST AND SENSORY COST ARE CALLED….
A.MONETORY COST
.BNONMONETORY COST
C.FINANCIAL COST
D.NONE OF THE ABOVE
ANS. MONETORY COST
14.MONETORY PRICE IS NOT ONLY PERCIEVED OUTLAY IN PURCHASING, USING A SERVICE.
TRUE\FALSE.
ANS. TRUE
15.CHASE ADVERTISES ITS FAST NEW CREDIT CARD SCANNING SERVICE IS CALLED…
A.MAKER’S LINKS SERVICE
B.CUSTOMER’S BLINK SERVICE
C.CHASE’S BLINK SERVICE
D.NONE OF ABOVE
ANS. CHASE’S BLINK SERVICE.

 
 16).Net value=perceived benefits to customer ………..all
perceived outlays.
Ans. minus
17). ……………. Price is not only perceived outlay in purchasing
using a service.
Ans.monetary
18).pricing strategy stand on …………………. Legs.
Ans.three
19). How many type of service characteristics.name them.
Ans.4 type .1intangibility .
2inseparability.3hetrogenerty.4perishability.
20).is service are intangibility.
Ans.yes
Q 21 Price the company receives after accounting for discount promotions and other
incentives ?
Ans- Effective prices.

Q 22 What type of pricing strategy is used by Indigo Airlines ?

Ans- Low cost pricing.

Q23 There are three main foundation for pricing a service i.e. Cost based, Compettion based

&Value based pricing So among the above three which pricing seeks to recaver cost plus
margine for profit ?
Ans- Cost based pricing.

Q24 Define a ACARS and how is it useful for Indigo Airlines ?

Ans- Air, Craft,Communication,Addersing and Reporting, System.
Indigo Airlines use at for timing purpose what the called as indigo standard time.

Q 25 No frills Airlines is also known as ___________

Ans- Low cost airlines.