Strategy and Tactics of Pricing

Question: Discuss about the Strategy and Tactics of Pricing. Answer: Pricing Good morning ladies and gentlemen thank you for your attendance. The main aim of this gathering is to elaborate on the data obtained concerning Westin Hotel product pricing. The issue of matching pricing strategy applied by various companies and organization has been an issue in business marketing sector and moreover to our hotel. In cases where firms tend to use almost similar prices, determination and choices of a product become difficult for customers leading lack of consumer loyalty making us to loose customers. Application of almost similar prices as witnessed in the case of the selected organizations from previous year 21st December to the current year 2nd January is a challenge.as Westin hotel we should be flexible an change our prices during pic seasons such Christmas. Their product pricing ranges from $500 low seasons and to maximum of $1100.SOFITEL showed constant price fluctuating at low margins as in the data. Obtaining the data was a challenging to me and my team as pric es kept changing as per of and pic seasons. The we me and other team of Westin hotel have provided were not complete since RMs are constantly changing their prices as the day gets closer Thank you for your time and attention. Reference Monroe, K. B. (2012). Pricing: Making profitable decisions (pp. 37-46). New York: McGraw-Hill. Nagle, T. T., Hogan, J. E., Zale, J. (2006). The strategy and tactics of pricing: A guide to growing more profitably. Upper Saddle River, NJ: Pearson/Prentice Hall.