Internal and External Pricing Factors Questionnaire
I'm working on a hospitality writing question and need a sample draft to help me learn.
1. Pricing is a dynamic endeavor.
- Summarize, compare and contrast the internal and external pricing factors.
- Briefly describe the concept of revenue management, or yeild management. Align this description specifically with the pricing-adjustment strategies listed in this chapter.
- What is psychological pricing. Describe a time when you encountered one of the psychological pricing strategies, did it work on you?
2. One way of increasing revenue is through upselling. Give examples from the hospitality or travel industries of when upselling can result in a more satisfied guest.
3.Give an example of an effective use of price discrimination. Support your reasons for thinking that it is a good example.
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