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One of the Revenue Manager’s toughest jobs is pricing to optimize revenue during
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One of the Revenue Manager’s toughest jobs is pricing to optimize revenue during different economic conditions. A huge deduction in the price of an item may be seen as a devaluation of the product and customers will expect to see those reduced prices remain, even after the economy rebounds.
Below is an example of a very unique and innovative pricing and promotional strategies:
(Well, what your plate weighs – though a buffet restaurant used to weigh children and charge them by weight)
These go beyond including amusement park passes or breakfasts in your hotel room rate.
Please post at least two unique pricing strategies offered by hotels, restaurants, services, products – pretty much just about anything – that you think would be effective in generating revenues in an economic downturn. Comment on whether or not you think the pricing would be economically feasible in the long term – why or why not?