ke 5-strategi penetapan harga utk jasa
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DOSEN:IMANUDDIN HASBI, ST., MM
MANAJEMEN HARGA
DAN PENDAPATAN
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WHAT MAKES SERVICE PRICING STRATEGY
DIFFERENT (AND DIFFICULT)?
No ownership of services--hard for firms to calculate financial costs ofcreating an intangible performance
Higher Ratio of Fixed Costs to Variable Costservice business with highfixed costs include those with an expensive physical facility (e.g., a hotel, ahospital, a university, or a theater), or a fleet of vehicles (e.g., an airline, a buscompany, or a trucking company), or a network dependent on company-
owned infrastructure (e.g., a telecommunications company, an Internetprovider, a railroad, r a gas pipeline).
Variability of Both inputs and outputs--how can firms define a unit ofservice and establish basis for pricing?
Many services hard for customers to evaluate--what are they getting inreturn for their money?
Importance of time factor--same service may have more value to customerswhen delivered faster
Delivery through physical or electronic channels--may create differences inperceived value
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ETHICAL CONCERNS
Exploting Customer Ignorance
Complexity and Unfairness
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Types of Costs
Total CostsSum of the Fixed and Variable Costs for a Given
Level of Production
Fixed Costs(Overhead)
Costs that dontvary with sales or
production levels.
Executive SalariesRent
Variable Costs
Costs that do varydirectly with the
level of production.
Raw materials
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IDENTIFYING USER OUTLAYS
Financial Outlays
Price of purchasing serviceOther Financial Expenses: expenses associated with search,
purchase activity, usage
Nonfinancial Outlays
Time expenditures (e.g., wasting time, waiting time) Physical Effort (e.g., fatigue, discomfort, occasionally even injury) Psychological burdens (negative feeling, e.g., mental effort, feelings) Sensory burdens (unpleasant sensations affecting any of the five
senses)
Customer expenditures on service comprise bothfinancial and non-financial outlays
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DETERMININGTHE TOTAL COSTSOFA SERVICE
TOTHE CONSUMER(FIG. 8.2)
Price
Related MonetaryCosts
Time CostsPhysical Costs
PsychologicalCosts
Sensory Costs
Necessaryfollow-up
Problem
solving
Operating Costs
IncidentalExpenses
Purchase andUse Costs
Search Costs
After Costs
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PriceHigh Medium Low
High
LowProdu
ctQuality
Med
PremiumValue
MediumValue
Economy
Overcharging
Rip-OffFalse
Economy
HighValue
SuperValue
Good-Value
PRICE - QUALITY STRATEGIES
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TRADINGOFF MONETARYAND NON-
MONETARY COSTS
Which clinic would you patronize if you needed a chestx-ray (assuming all three clinics offer good quality) ?
Price $85
Located 15 minaway by car ortransit
Next availableappointment is in 1week
Hours: Monday Friday, 8am 10pm
Estimated wait atclinic is about 30 -45 minutes
Clinic B
Price $125
Located next toyour office orcollege
Next appointmentis in 1 day
Hours: Mo Sat,
8am 10pm By appointment -
estimated wait atclinic is about 0 to15 minutes
Clinic CClinic A
Price $45
Located 1 hour awayby car or transit
Next availableappointment is in 3weeks
Hours: Monday
Friday, 9am 5pm Estimated wait at
clinic is about 2hours
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UNDERSTANDING NET VALUE
The sum of all perceived benefits(gross value) minus the sum of all
perceived outlays
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Perceived
Benefits
Time
eEffort
NET VALUE = (BENEFITS OUTLAYS)(FIG. 8.3)
PerceivedOutlays
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ENHANCING GROSS VALUE
Pricing Strategies to Reduce Uncertainty
service guarantees
benefit-driven (pricing that aspect of service that creates value)
flat rate (quoting a fixed price in advance)
Relationship Pricing
non-price incentives
discounts for volume purchases
discounts for purchasing multiple services
Low-cost Leadership
Convince customers not to equate price with quality
Must keep economic costs low to ensure profitability at low price 13
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INCREASING NET VALUEBY REDUCING
NON-FINANCIAL COSTSOF SERVICE
Reduce time costs of service at each stage
Minimize unwanted psychological costs of service
Eliminate unwanted physical costs of service
Decrease unpleasant sensory costs of service
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REVENUE MANAGEMENT: MAXIMIZING REVENUE
FROM AVAILABLE CAPACITYATA GIVEN TIME
Based on price customization- charging different customers(value segments) different prices for same product
Useful in dynamic markets where demand can be divided
into different price bucketsaccording to price sensitivity
Requires rate fencesto prevent customers in one valuesegment from purchasing more cheaply than willing to pay
RM uses mathematical models to examine historical data
and real time information to determine what prices to charge within each price bucket
how many service units) to allocate to each bucket
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THE STRATEGIC LEVERSOF
REVENUE (YIELD) MANAGEMENT
Quadrant 4:
Continuing Care
Hospitals
Quadrant 3:
Restaurants
Golf Courses
Unpredictable
Quadrant 2:Hotel Rooms
Airline Seats
Rental Cars
Cruise Lines
Quadrant 1:Movies
Stadiums/Arenas
Function Space
Predictable
Duration
VariableFixed
Price
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DEALINGWITH COMMON CUSTOMER CONFLICTS
ARISINGFROM REVENUE MANAGEMENT
Perceived Unfairness & Perceived
Financial Risk Associated with
Multi-Tier Pricing and Selective
Inventory Availability
Customer conflict can arise from: Marketing tools to reducecustomer conflicts:
Unfulfilled Inventory Commitment
Unfulfilled Demand of Regular
Customers
Unfulfilled Price Expectation ofGroup Customers
Change in the Nature of the
Service
Fenced Pricing
Bundling
Categorising
High Published Price Well designed Customer Recovery
Programme for Oversale
Preferred Availability Policies
Offer Lower Displacement CostAlternatives
Physical Segregation & Perceptible
Extra Service Set Optimal Capacity Utilisation Level
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KEY CATEGORIESOF RATE FENCES
Rate Fences Examples
Physical (Product-related) Fences
Basic Product Class of travel (Business/Economy class)Size and furnishing of a hotel room
Seat location in a theatre
Amenities Free breakfast at a hotel, airport pick up etc.Free golf cart at a golf course
Service Level Priority wait listing
Increase in baggage allowancesDedicated service hotlinesDedicated account management team
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KEY CATEGORIESOF RATE FENCES(CONTD)
Non Physical Fences
Transaction Characteristics
Time of booking or
reservation
Requirements for advance purchase
Must pay full fare two weeks before departure
Location of booking orreservation
Passengers booking air tickets for anidentical route in different countries arecharged different prices
Flexibility of ticketusage
Fees/penalties for canceling or changing areservation (up to loss of entire ticket price)Non refundable reservation fees
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KEY CATEGORIESOF RATE FENCES(CONTD)
Non Physical Fences (contd)
Consumption Characteristics
Time or duration of
use
Early bird special in restaurant before 6pm
Must stay over on Sat for airline, hotelMust stay at least five days
Location ofconsumption
Price depends on departure location, esp ininternational travel
Prices vary by location (between cities, citycentre versus edges of city)
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KEY CATEGORIESOF RATE FENCES(CONTD)
Non Physical Fences (contd)
Buyer Characteristics
Frequency or volume
of consumption
Member of certain loyalty-tier with the firm get
priority pricing, discounts or loyalty benefits
Group membership Child, student, senior citizen discountsAffiliation with certain groups (e.g. Alumni)
Size of customergroup
Group discounts based on size of group
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OBJECTIVESOF PRICING STRATEGIES
Revenue and profit objectives
Seek profit
Cover costs
Patronage and user base-related objectives
Build demand
Build a user base
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THE PRICING TRIPOD(FIG. 8.4)
Pricing Strategy
CostsCompetition
Value to customer 24
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THREE MAIN APPROACHESTO PRICING
Cost-Based Pricing
Set prices relative to financial costs(problem: defining costs)
Competition-Based Pricing Monitor competitors pricing strategy
(especially if service lacks differentiation)
Who is the price leader? (one firm sets the pace)
Value-Based
Relate price to value perceived by customer
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COST-BASEDPRICING
Cost-Based Pricing
The practice of relating the price to be charged to the costs associated
with producing, delivering, and marketing a product.
Regulated Pressures
Most local utilities-like telephone, water, cable TV, electricity, and gas-
have been regulated historically by government agencies that control all
changes in prices and terms of service.
Activity-Based Costing
An approach to costing based on identifying the activities being
performed an then determining the resources that each consumes.
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ACTIVITY-BASED COSTING: RELATING ACTIVITIES
TOTHE RESOURCES THEY CONSUME
Managers need to see costs as an integral part of a firmseffort to create value for customers
When looking at prices, customers care about value to
themselves, not what production costs the firm
Traditional cost accounting emphasizes expense categories,with arbitrary allocation of overheads
ABC management systems examine activitiesneeded tocreate and deliver service (do they add value?)
Must link resource expenses to:
variety of products produced
complexity of products
demands made by individual customers27
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COMPETITION-BASEDPRICING
Competition-Based Pricing
The practice of setting prices relative to those charged by
competitors.
Price Leadership Price leader : A firm that takes the initiative on price
changes in its market area and is copied by others.
Price Bids and Negotiation
Industrial buyers sometimes request bids from competing
service suppliers.
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VALUE-BASEDPRICING
Pricing Strategies to Reduce Uncertainty
Benefit-driven pricing: the strategy of relating the price to that aspect of
the service that directly creates benefits for customers.
Flat-rate pricing: the strategy of quoting a fixed price for a service in
advance of delivery.
Relationship Enhancement
Discounting to win new business is not the attract customers who will
remain loyal over time, since those who attracted by cut-rate pricing are
easily enticed away by competing offers.
Cost Leadership
Cost leader: a firm that bases its pricing strategy on achieving the lowest
costs in its industry.
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PRICE ELASTICITY
De
De
Di
Di
Price per
unit ofservice
Quantity of Units Demanded
De : Demand is price elastic. Small changes in price lead to big changes in demand.
Di : Demand for service is price inelastic. Big changes have little impact on demand.
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RELATING PRICE BUCKETSAND FENCESTO
THE DEMAND CURVE (FIG. 8.5)
First Class
Full Fare Economy (No Restrictions)
One-Week Advance Purchase
One-Week Advance Purchase, Saturday Night Stayover
3-Week Advance Purchase, Saturday Night Stayover
3-Wk Adv. Prchs, Sat. Night Stay,No changes/refunds3-Week Adv. Prchs, Sat. Night Stay., $100 for Changes
Late Sales through Consolidators/Internet, no refunds
Capacity
of Aircraft
No. of Seats Demanded
Capacityof 1st-classCabin
Price per
Seat
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ETHICAL CONCERNSIN PRICING
Customers are vulnerable when service is hard to evaluateor they dont observe work
Many services have complex pricing schedules
hard to understand
difficult to calculate full costs in advance of service
Unfairness and misrepresentation in price promotions
misleading advertising
hidden charges
Too many rules and regulations
customers feel constrained, exploited
customers unfairly penalized when plans change 33
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PRICING ISSUES:
PUTTING STRATEGYINTO PRACTICE(TABLE 8.1)
How much to charge?
What basis for pricing?
Who should collect payment?
Where should payment bemade?
When should payment bemade?
How should payment bemade?
How to communicate prices?34