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Price Analysis
Hospitality Marketing
Nur Agustinus
PRICING PERCPECTIVES – Lancecter-Reynolds -
• ECONOMIST’s approach
The price is the means through which supply and demand
is brought into equilibrium
• ACCOUNTANTS’s approach
The price covers the costs and make profits
• MARKETER’s approach
Effect of price on the organisation’s competitive
market position
Setting the Right Price
Steps in Setting the Right Price
8
Price Skimming
Inelastic Demand
Limited Production
Penetration Pricing
Advantages Disadvantages
13
Tactics for Fine-
Fine-Tuning
the Base Price
Quantity Discounts
Cash Discounts
Functional Discounts
Seasonal Discounts
Discounts
Fine-Tuning
Fine-
Pricing Geographic Pricing
Tactics
Special Pricing
Tactics
Economic Environment
Inflation is a sustained
increase in the general price A recession is a significant decline
level of goods and services in economic activity that goes on
in an economy over a period for more than a few months.
of time.
Inflation
Cost-Oriented Tactics
High Inflation
Demand-Oriented Tactics
21
Cost-Oriented Tactics
Problems with Cost-
Cost-Oriented Tactics
23
Demand-Oriented Tactics
Cultivate selected demand
Value-Based Pricing
Bundling or Unbundling
Value-Based Pricing
Bundling
Unbundling
Assignment
• Watch a movie: MADRE
• Link: https://www.youtube.com/watch?v=4XK23tEMu5s
• Write a reflective journal after watching the film.
– Write your response about experiences and opinions after
watching the film.
– Write your thoughts and feelings.
– Write what you learned from the film.