Price
Price is defined as what customers actually pay in exchange for the benefits accruing from a product or service (Lovelock & Wirtz, 2007).
Services firms are relatively undifferentiated from competing offerings need to keep an eye on what competitors arecharging and should to try price accordingly. If there is a little or no difference between theservices offered in the marketplace, customers may just choose the cheapest (Lovelock &Wirtz, 2007). Thus, price can be an effective way to influence demand. Price carries amessage; lower prices in off peak periods may stimulate demand at that time but put off other customers.