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What is the major significant difference between pricing a product and pricing a service?

Pricing
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Question added by Ramanathan Jagadeesh , Associate Director , Unimoni Enterprise Solutions Private Ltd
Date Posted: 2015/05/13
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Pradeep Dubey
by Pradeep Dubey , Manager Financial Planning and Analysis , Tata Communications Limited

Pricing a product is simple as its tangible and you can break down the cost in various components to arrive at price,

 

Pricing a service is bit tricky as its intangible and working out pricing involves lot of assumption and cost specification related to particular activity to arrive at price

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