Today's Revenue Management thought:-

Value is in the mind of the buyer.

Value equals willingness to pay !

It's only logical - the more value your customers see in your product / service, the more they're willing to pay for it.

Have a profitable week.

✌🏼

Today's Revenue Management thought:-

Labour costs & shortages

Increased food & beverage costs

Energy costs all increasing to unheard of levels.

Raising your prices significantly is best done when there is public awareness of your increased costs….. so if you’re gonna do it.. now’s the time.

Have a profitable week.

✌🏼

Today's Revenue Management thought:-

Your pricing problem is NOT your price.

It’s perceived value !

Have a profitable week.

✌🏼

Today's Revenue Management thought:-

When you're talking about pricing, think about value.

Who own’s the pricing decision ?

Who owns the value proposition ?

Pricing should have the concept of value underlying every decision.

Have a profitable week.

✌🏼

Today's Revenue Management thought:-

LVMH’s Bernard Arnault…..

“Luxury goods are the only area in which it is possible to make luxury profits.”

Nikolas HALL - “When the product’s price is right, you don’t have to be a great marketer to make a profit.”

Have a profitable week.

✌🏼

Today's Revenue Management thought:-

Inflation has a strange impact on pricing……

• Makes balloons bigger - The concept of pricing empty space.

• Chocolate bars smaller -Shrinkflation, the hidden Price Increase.

Have a profitable week.

✌🏼

Today's Revenue Management thought:-

Pricing is so complex…..

You must understand:-

• your products

• your buyers

  • their rational thoughts

  • their irrational thoughts

• competitors

• market conditions

• investor / owner demands

and so much more…….

But at the end of the day it’s so worth it.

Have a profitable week.

✌🏼

Today's Revenue Management thought:-

Small improvements in pricing strategies and implementation……

Will have a positive effect on your results.

€3 more for each room daily in a 100 room property with an annual occ. % of 60 = €65,000.00

Have a profitable week.

✌🏼

Today's Revenue Management thought:-

The reason price is the only issue your customers care about is because……

You have not given them anything else to care about.

Have a profitable week.

✌🏼

Today's Revenue Management thought:-

Utilising powerful pricing strategies & implementing pricing tools entails that…..

you are in a position to create significantly more value than your competitors.

Have a profitable week.

✌🏼