Discuss the pricing strategies in tour packages.

1.	Discuss the pricing strategies in tour packages.
Answer» The pricing strategies are: 1. Cost based pricing- this is used to make over the cost in order to reach at the breakeven point. 2. Competition based pricing- this pricing strategy takes tab of the prices of its competitors in order to tag the price of its own product. 3. Consumer based pricing- this type of pricing is primarily set to target customers by taking the affordability and the quality of purchase into considerations. 4. Rack rate pricing: it is a full rate before discounts are given. 5. Seasonal pricing: a wide mix of pricing of package is set to cater low, high and shoulder seasons as tourism is largely driven by the season. 6. Last minute pricing- it is common method of giving discount from the daily coated prices in order to close bookings. 7. Per person pricing and Per unit pricing.

Answer»

The pricing strategies are:

1. Cost based pricing- this is used to make over the cost in order to reach at the breakeven point.

2. Competition based pricing- this pricing strategy takes tab of the prices of its competitors in order to tag the price of its own product.

3. Consumer based pricing- this type of pricing is primarily set to target customers by taking the affordability and the quality of purchase into considerations.

4. Rack rate pricing: it is a full rate before discounts are given.

5. Seasonal pricing: a wide mix of pricing of package is set to cater low, high and shoulder seasons as tourism is largely driven by the season.

6. Last minute pricing- it is common method of giving discount from the daily coated prices in order to close bookings.

7. Per person pricing and Per unit pricing.

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