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This paper analyses the optimal pricing strategies of two sales models for a service product: the use-based mode, in which a customer pays for each use, and the prepaid-based mode, in which a customer enjoys a service with a card that represents an up-front payment for a period of time. For the prepaid mode, we analyze a kind of unlimited card, such as a fitness card. With considerations of customers' perceived value, transfer fees and the time-value of the funds, we establish generalized pricing models of a service product under these two sales modes in a monopoly, and discuss the pricing strategies between two companies using game theory in a duopoly. Research shows that in a monopoly, the optimal use-based price is identical whether the transfer fee exists or not, and the optimal prepaid-based price when the transfer fee exists is lower than when it does not exist. In a duopoly, according to game theory, we can derive two Nash equilibria from nine situations. Finally, through numerical examples, we verify the effectiveness of the pricing strategy and derive some managerial insights.

Use-Based Pricing and Prepaid-Based Pricing for Service Products: Analysis of an Unlimited Prepaid Card