ABSTRACT
After working through this chapter, you should be able to:
Understand the significance of pricing in the pre-encounter marketing mix
Identify external and internal factors that influence pricing decisions
Appreciate how online search and transparency influences contemporary pricing strategies
Explain quality/pricing strategies in a hospitality context
Understand how hospitality organizations set prices
Understand how revenue management can optimize sales revenue
Describe the role of price promotions to increase revenue in low-demand periods
Recognize the complexity of pricing in an international context.
