Pricing Strategies
Date Submitted: 09/01/2004 03:30:26
Category: / Business & Economy / Accounting
Length: 5 pages (1418 words)
Category: / Business & Economy / Accounting
Length: 5 pages (1418 words)
INTRODUCTION
The board of a small hotel group in Dorset and Hampshire need to select a pricing strategy for their new brochure. Dorset and Hampshire is a seasonal area with a higher occupancy in the summer time then the winter. This would have an effect on the pricing strategy eventually chosen. Pricing is the only element of the marketing mix that does not represent cost. Therefore it is very important to gain the correct strategy …
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…segment, an overbooking policy, good information on internal and external data. However a mixture of cost orientated pricing and market orientated pricing would also be useful for the small hotel chain, as individually the pricing strategies do not work very well as they miss out vital information.
BIBLIOGRAPHY
1. Management Accounting for Hotels and Restaurants. Richard Kotas. Surrey University Press. ISBN 0-903384-58-
2. Hospitality Management Accounting. M. Coltman. V.N.R. ISBN 0-442-00542-3
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