pricing
TRANSCRIPT
- 1. Pricing
- 2. Price If you were manager of a hotel. How wouldyou set your hotel rates?
- 3. Pricing
- 4. Pricing - Considerations, Approaches, StrategyRyanair Michael OLeary chief executive of IrelandsRyanair, wants to make air travel free, as inzero cost. by the end of the decade, he promises, more thanhalf of our passengers will fly free. http://www.bbc.co.uk/news/business-20202579tab
- 5. Factors affecting Price Decisions
- 6. The Dual Role of PricingPricing plays a dual role in business:As a direct determinant of profitabilityAs an implicit promotional-mix element
- 7. Marketing Objectives Survival Current Profit Maximization Market Share leadership Product Quality Leadership Other Objectives
- 8. Marketing Objectives: Product Quality leadership Red Sage restaurant in Washington D.C
- 9. Marketing Objectives:Market Share leadership
- 10. External Factors Affecting Pricing Decisions Market and Demand
- 11. Cross-Selling and Upselling
- 12. Consumer Perception of Price and Value
- 13. The Hypothetical Demand Schedule
- 14. Inelastic and Elastic Demand
- 15. Factors Affecting Price Sensitivity1. Unique Value EffectGive them value and you will create volume Ralph Hiltz
- 16. Factors Affecting Price Sensitivity 2. Substitute Awareness Effect
- 17. Factors Affecting Price Sensitivity3.End-Benefit Effect
- 18. Factors Affecting Price Sensitivity 4. Price Quality EffectFour Season Hotels
- 19. General Pricing Approaches a. Cost based pricing b. Break-even analysis c. Value based pricing d. Competition based pricing
- 20. Break-Even AnalysisBreak-even analysis involves developingcharts that show the relationship of costs,customer demand volumes, and profitsCosts are separated into fixed and variablein order to do break-even analysis
- 21. Break-Even Chart
- 22. Pricing Strategiesa. New-product pricingb. Prestige Pricingc. Market-skimming pricingd. Market-Penetration pricing
- 23. Revenue Management The Fairmont Story http://www.ideas.com/index.php/tools-resources/videos/understanding-the-value-of-revenue-management-the-fairmont-story