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Pricing strategies: leveraging bias and psychological tricks for success

eHotelier

Effective pricing strategies are crucial for capturing consumer attention and driving sales. Leveraging psychological biases and tricks can profoundly influence consumer perception and behavior, so let's explore several proven pricing strategies that smartly use human psychology to enhance business success.

Pricing 277
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Your hotel dynamic pricing guide: an overview of all price tags

eHotelier

It starts with dynamic pricing. You can adjust for other factors with the correct bottom and starting prices. Ready to boost your hotel’s profits?

Pricing 278
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Diners Have Negative Reaction to Surge and Dynamic Pricing

Modern Restaurant Management

Eighty-one percent of diners said they would either stop going to a restaurant altogether or alter their dining hours to avoid prices surging during peak hours and 64 percent said they have a negative reaction to restaurants using surge and dynamic pricing, according to a HungerRush’s National Restaurant Price Surging Survey.

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Guide to Hotel Pricing Intelligence

MEWS

What is hotel pricing intelligence? Hotel pricing intelligence involves analyzing, gathering, and using data to make informed pricing decisions based on room rates and various pricing strategies.

Pricing 130
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Agave prices fall as demand stabilises

Hospitality Magazine

As agave prices in Mexico continue to fall and demand for premium-and-above tequila moderates in the United States, alcohol market analysts IWSR says brand owners have an opportunity to improve product quality at lower price points.

Pricing 130
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Top 4 Benefits of Seasonal Pricing for Hotels

InnQuest

Pricing plays a crucial role in determining the success of any business. When it comes to hotel businesses, one must continuously strive to achieve a balance between the customer experience and pricing. Hotels follow different pricing strategies to get there and seasonal pricing remains one of the most important.

Pricing 220
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Hotel discount pricing strategy | Benefits & examples

MEWS

What is discount pricing? Discount pricing is a strategy in which you offer your hotel rooms at a lower price to draw guests, boost demand, increase sales volume, or decrease perishable inventory. This pricing strategy can be applied temporarily for promotional purposes or over an extended period to help position your hotel.

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