Price management in financial services

Authored by: George J. Avlonitis , Kostis Indounas

The Routledge Companion to Financial Services Marketing

Print publication date:  December  2014
Online publication date:  December  2014

Print ISBN: 9780415829144
eBook ISBN: 9780203517390
Adobe ISBN: 9781134095551

10.4324/9780203517390.ch17

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Abstract

A review of the literature on financial services pricing reveals that a number of authors have underlined the importance of pricing for financial services providers:

The price component of any marketing mix has a number of important roles to fulfill. First, and perhaps most importantly, it affects revenue and therefore profitability. Second, it is a competitive tool that can be used to exploit market opportunities and, third, it contributes to the image created for the product within the marketing mix. In broad terms, the role of pricing in a marketing context is to determine a price, which will produce the desired level of sales in order to meet the objectives of the business strategy.

Hughes 1990: 112

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