How might a manager adjust pricing strategies

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Reference no: EM133940533

Discussion Question 1:
Brayley & McLean (2019) explain several purposes of pricing, such as cost recovery, value creation, behavior influence, and equity promotion.

Which of these purposes do you think is most important in public or nonprofit leisure services, and why?

Provide an example from sport, tourism, or recreation where pricing supports that goal.

Discussion Question 2:
The authors describe different types of price-monetary, opportunity, psychological, and effort.

Choose one of these types and discuss how it affects a customer's willingness to pay.

How might a manager adjust pricing strategies to address this perception in their organization?

Revenue Management

Discussion Question 1:
Revenue management focuses on maximizing revenue by understanding market demand and optimizing price, rate, and inventory.

How can sport, tourism, or hospitality managers apply these concepts ethically while maintaining service quality and fairness for all customers? Get the best assignment help from top tutors.

Give an example of a situation where this balance might be challenging.

Discussion Question 2:
Brayley & McLean (2019) introduce RevPAR and Yield Management as tools for monitoring financial performance.

How can data from these tools help managers make better operational decisions?

Discuss one potential advantage and one limitation of relying on these metrics in leisure or tourism settings.

Reference no: EM133940533

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