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While Virgin America has just begun flying in the U.S. On August 8, 2007, this last aspect of service pricing strategy is relatively new, yet the company has a very successful track record with global flights on Virgin Airways using this strategy. In summary, the three key ways in which service prices are different for consumers include the use of service pricing on the part of services providers (in this case Virgin America) to optimize pricing for given markets and audiences (charter vs. full faire), define services segmentation while underscoring their UVP, and lastly incent greater levels of loyalty over time through pricing that invites self-efficacy on the part of their customers.
References
Bolton, N., Myers, M (2003). Price-Based Global Market Segmentation for Services:...
Journal of Marketing, 67(3), 108-128. Retrieved April 43, 2008, from ABI/INFORM Global database. (Document ID: 678339141).
Docters, R., Reopel, M., Sun, J., Tanny, S (2004). Capturing the unique value of services: why pricing of services is different. The Journal of Business Strategy, 25(2), 23-28. Retrieved April 2, 2008, from ABI/INFORM Global database. (Document ID: 625503741).
Kim, B., Park, S (2008). Optimal pricing, EOL (end of life) warranty, and spare parts manufacturing strategy amid product transition. European Journal of Operational Research, 188(3), 723. Retrieved April 4, 2008, from ABI/INFORM Global database. (Document ID: 1426348951).
Li, M (2006). A model of pricing perishable inventories using two restrictions, with an application to…
References
Bolton, N., Myers, M (2003). Price-Based Global Market Segmentation for Services: [1]. Journal of Marketing, 67(3), 108-128. Retrieved April 43, 2008, from ABI/INFORM Global database. (Document ID: 678339141).
Docters, R., Reopel, M., Sun, J., Tanny, S (2004). Capturing the unique value of services: why pricing of services is different. The Journal of Business Strategy, 25(2), 23-28. Retrieved April 2, 2008, from ABI/INFORM Global database. (Document ID: 625503741).
Kim, B., Park, S (2008). Optimal pricing, EOL (end of life) warranty, and spare parts manufacturing strategy amid product transition. European Journal of Operational Research, 188(3), 723. Retrieved April 4, 2008, from ABI/INFORM Global database. (Document ID: 1426348951).
Li, M (2006). A model of pricing perishable inventories using two restrictions, with an application to airline pricing. Journal of Revenue and Pricing Management, 4(4), 329-343. Retrieved April 4, 2008, from ABI/INFORM Global database. (Document ID: 1025479531).
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