Pricing of Marine Products and Services in the Modular Age

Liping Jiang, Omar Al-Ajlouni

Research output: Book/ReportReportCommunication

Abstract

WHAT IS THE ISSUE?
Pricing can be a particular challenging issue for marine suppliers with multiple products and services especially when suppliers want to address specific customer needs and at the same time achieves the efficiency in pricing.
WHY IS IT IMPORTANT?
Appropriate pricing of products-and-services combination can have a much broader impact on the business. First, it will boost the sales and revenue by differentiating customers’ varied preference between offerings while reducing the transaction costs. In addition, it will enhance the competitiveness and minimize the ability of new entrants to compete in the market. Lastly, customer satisfaction and loyalty will be increased accordingly.
WHAT CAN BE DONE?
The pricing challenge for multiple products and services can be overcome by applying the modular concept on pricing, where each product or service is offered as a module, so suppliers can either set different prices for each module or offer a couple of modules at a bundled price. Pursuing price bundling will allow suppliers to balance the tradeoff between customization and standardization in pricing, thus creating a potential win-win situation.
Original languageEnglish
Place of PublicationFrederiksberg
PublisherCBS Maritime
Number of pages25
ISBN (Electronic)9788793262126
Publication statusPublished - 2017

Cite this

Jiang, L., & Al-Ajlouni, O. (2017). Pricing of Marine Products and Services in the Modular Age. Frederiksberg: CBS Maritime.
Jiang, Liping ; Al-Ajlouni, Omar. / Pricing of Marine Products and Services in the Modular Age. Frederiksberg : CBS Maritime, 2017. 25 p.
@book{27a3b403868346bb998a58bdb0422151,
title = "Pricing of Marine Products and Services in the Modular Age",
abstract = "WHAT IS THE ISSUE?Pricing can be a particular challenging issue for marine suppliers with multiple products and services especially when suppliers want to address specific customer needs and at the same time achieves the efficiency in pricing.WHY IS IT IMPORTANT?Appropriate pricing of products-and-services combination can have a much broader impact on the business. First, it will boost the sales and revenue by differentiating customers’ varied preference between offerings while reducing the transaction costs. In addition, it will enhance the competitiveness and minimize the ability of new entrants to compete in the market. Lastly, customer satisfaction and loyalty will be increased accordingly.WHAT CAN BE DONE?The pricing challenge for multiple products and services can be overcome by applying the modular concept on pricing, where each product or service is offered as a module, so suppliers can either set different prices for each module or offer a couple of modules at a bundled price. Pursuing price bundling will allow suppliers to balance the tradeoff between customization and standardization in pricing, thus creating a potential win-win situation.",
author = "Liping Jiang and Omar Al-Ajlouni",
year = "2017",
language = "English",
publisher = "CBS Maritime",
address = "Denmark",

}

Jiang, L & Al-Ajlouni, O 2017, Pricing of Marine Products and Services in the Modular Age. CBS Maritime, Frederiksberg.

Pricing of Marine Products and Services in the Modular Age. / Jiang, Liping; Al-Ajlouni, Omar.

Frederiksberg : CBS Maritime, 2017. 25 p.

Research output: Book/ReportReportCommunication

TY - RPRT

T1 - Pricing of Marine Products and Services in the Modular Age

AU - Jiang, Liping

AU - Al-Ajlouni, Omar

PY - 2017

Y1 - 2017

N2 - WHAT IS THE ISSUE?Pricing can be a particular challenging issue for marine suppliers with multiple products and services especially when suppliers want to address specific customer needs and at the same time achieves the efficiency in pricing.WHY IS IT IMPORTANT?Appropriate pricing of products-and-services combination can have a much broader impact on the business. First, it will boost the sales and revenue by differentiating customers’ varied preference between offerings while reducing the transaction costs. In addition, it will enhance the competitiveness and minimize the ability of new entrants to compete in the market. Lastly, customer satisfaction and loyalty will be increased accordingly.WHAT CAN BE DONE?The pricing challenge for multiple products and services can be overcome by applying the modular concept on pricing, where each product or service is offered as a module, so suppliers can either set different prices for each module or offer a couple of modules at a bundled price. Pursuing price bundling will allow suppliers to balance the tradeoff between customization and standardization in pricing, thus creating a potential win-win situation.

AB - WHAT IS THE ISSUE?Pricing can be a particular challenging issue for marine suppliers with multiple products and services especially when suppliers want to address specific customer needs and at the same time achieves the efficiency in pricing.WHY IS IT IMPORTANT?Appropriate pricing of products-and-services combination can have a much broader impact on the business. First, it will boost the sales and revenue by differentiating customers’ varied preference between offerings while reducing the transaction costs. In addition, it will enhance the competitiveness and minimize the ability of new entrants to compete in the market. Lastly, customer satisfaction and loyalty will be increased accordingly.WHAT CAN BE DONE?The pricing challenge for multiple products and services can be overcome by applying the modular concept on pricing, where each product or service is offered as a module, so suppliers can either set different prices for each module or offer a couple of modules at a bundled price. Pursuing price bundling will allow suppliers to balance the tradeoff between customization and standardization in pricing, thus creating a potential win-win situation.

M3 - Report

BT - Pricing of Marine Products and Services in the Modular Age

PB - CBS Maritime

CY - Frederiksberg

ER -

Jiang L, Al-Ajlouni O. Pricing of Marine Products and Services in the Modular Age. Frederiksberg: CBS Maritime, 2017. 25 p.