Pricing may be affected by international monetary policy

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Reference no: EM132281167

How Pricing May Be Affected By International Monetary Policy & Currency Exchange Issues

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The purpose of the discussion forum is to provide a platform for students to consider how marketing principles may apply differently based on the norms, attitudes, values, beliefs and social practices of different cultures.

You’ve been exposed to the spectrum of internal (Marketing Objectives, Marketing Mix Strategy, Costs, Cost Subsidization and Organizational Considerations) and external (Market & Demand, Cross-Selling & Upselling, Consumer Perceptions, Price-Demand Relationship, Elasticity of Demand, Price Sensitivity) factors affecting pricing decisions. In addition, you read about pricing approaches that could be taken into account in Revenue Management (Dynamic Pricing, BAR Pricing & Rate Parity).

For this discussion assignment, as with previous discussions, undertake some additional research (through the library or other citable resources besides the text book) to gain insight on how pricing decisions for hospitality, travel or tourism services in the United States might be influenced by a foreign country's monetary policies (visa fees, port charges, airline landing fees, and so forth), and how prices would be affected by the international exchange rate of that country's currency. In a brief statement, share what you’ve learned about how pricing for hospitality, travel and tourism services may necessarily differ based on monetary policy and currency exchange issues; and, how you think this could impact marketing to guests that may be coming to the United States from that region or country.

Next, take a position and provide your justification on whether a hospitality, travel or tourism business should actively adjust prices based on fluctuating global monetary policies or currency exchange rates, and whether price positioning should even be considered important in marketing a hospitality, travel or tourism business seeking to attract an international target market.

Be sure to cite the source of the information you are referencing using APA guidelines. American Psychological Association (2009). APA publication manual (6th ed,). Washington, D.C.

Additionally, you must read at least two other classmate's postings and provide your observations and/or thoughts on what they've found through their research and how they've applied it in the international hospitality, travel and tourism arena.

Reference no: EM132281167

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