Explain the Categories of Pricing Objectives Open to a Service

question 7

Essay

Explain the categories of pricing objectives open to a service organisation and discuss when each would be appropriate.

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Definitions:

Specific Needs

Particular requirements or desires of individuals or target markets that products or services aim to fulfill.

Public Relations

The strategic communication process that builds mutually beneficial relationships between organizations and their publics.

Publicity

It involves creating awareness about a product, service, or company in the public domain, often through media coverage, without direct payment.

Credible

Being believable or worthy of trust, often based on a proven track record or evidence.