Bij deze een samenvatting voor het vak 'Service Industry II'. Deze samenvatting bevat alle stof die behandelt is tijdens de hoor-, en werkcolleges evenals de stof die behandelt is in de hoofdstukken van de boeken en een oefentoets met open vragen en antwoorden.
Chapter 17 - Managing services across national boundaries (p.422-p.423)……………............p.32
Chapter 18 - Servitization - or why services management is relevant for manufacturing
environments (p.430-p.432)…………… …..……………………………………………………………………………p.33
Practice test (based on the lectures)……………………………………………………………………………………………..p.34
Answers to the test……………………………………………………………………………………………………………….p.35+p.36
1
,Lectures & Training Sessions
Week 1
Price
Of the classical four Ps of the marketing mix (product, place, promotion, and price), it is price that
usually receives the least attention, even though the pricing decision probably has the greatest
impact on a company’s profits.
“Price is distinguished from other marketing devices by the force and the speed of sales-effect, the
shortness of time it takes to change it, the elasticity of competitive reactions and cash flow
implications.”
Non-monetary costs
What it costs for a customer (other than money) to buy a product, including the time spend on
shopping and the risk taken in the assumption that the product will deliver expected or promised
benefit.
There are several types of non-monetary costs:
• Search costs: the effort to identify and select the desired service (e.g. time)
• (In)Convenience costs: arranging schedules, travelling time
• Time costs: length of time to be served
• Psychological costs: fear of not understanding (pension), fear of refusal (bank), fear of the
outcome (surgery): risk taking
Non-monetary costs play a role in the assessment of the quality of processes, the assessment of the
price/value relationship and hence in customer satisfaction. People are also willing to pay more if
they perceive a decrease in nonmonetary costs.
Pricing decisions
Pricing decisions can be made through a four-step process. These four steps include:
Pricing objectives: The pricing objectives should be in line with the overall business and marketing
strategy; e.g. acquiring market share, maximizing short-term profit, prevent competition from
entering the market, communicate brand positioning, stimulate sales of other company services
2
, Pricing strategy: The pricing strategy establishes a framework for pricing decisions and determines
the way in which prices will be set. Cost, competition and value as experienced by the consumer
should be taken into account
Pricing structure: The pricing structure takes into account a set of characteristics that will have an
effect on price levels and answers questions like : Which aspect of the service will be priced? What
will be included for that price? Will there be differentiation among different customers, payment
conditions?
Pricing levels/tactics: Promotions or other short term actions e.g. quantity discounts, lower prices in
off-peak hours.
3
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller JeffreyEngels. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $6.95. You're not tied to anything after your purchase.
