How does pricing strategy and price optimisation become strong Essay

How does pricing strategy and price optimisation become strong elements in revenue management to the independent boutique hotels in London - Essay Example 6). This piece of research paper explains how does pricing strategies and price optimisation become strong elements of revenue management in hotel industry, especially in independent boutique hotels in London. This paper details various pricing strategies like price optimisation, price discrimination and describe how these can help hotels to increase revenues as well as create customer focus. Revenue management is a process of managing capacity profitability that a hotel is involved in selling right inventory to the right customers at right time and for right price. One of its basic elements in allocating undifferentiated units of capacity to the available demand to generate maximum profit (Ingold, Yeoman and McMahon-Beattie, 2000, p. 3). Past and current levels of booking records are used to help the firm forecast demand and to maximize the profits as part of revenue management (Avinal, 2004, p. 52). Tranter, Hill and Parker (2009) emphasized that the hotel industries should develop a customer-centric approach to pricing. The pricing strategies that hotel industries adopt should be basically centered upon the perceptions and buying behaviour of the customers rather than solely focusing upon the products, service and profit margins (p. 117). In today’s highly competitive marketing environment, hotel industries have realized the importance of customer focus and customer centric approach along with its pricing strategies. Most boutique hotels perceive customer value as centre to its marketing concept and pricing strategies. One of the very common pricing strategies used in hotel industries is demand-based pricing, in which the hotels research the quantities of the products or services that would be purchased at different prices. This pricing method helps hotels to ensure that amounts produced can almost be sold out, but, making accurate demand estimation

Interrupting Flooding Assignment Example | Topics and Well Written Essays - 500 words

Interrupting Flooding - Assignment Example The rain garden should not be located straight over a septic system, it should also be built in sun and not under obstructions such as canopied trees among pother siting issues. The residential code regulates the construction of a rain garden by providing guidelines which must be followed. The cost of constructing rain garden is another inhibiting factor as the design should be deep enough to be costly. User profiles and needs: Surveys and interviews were conducted from different residents affected by the run-off during the rainy season to assess the extent of the problem. The users reported the following problems; Increase in pollution, Erosion of soil causes Sedimentation, Metal pollutants harm aquatic life, Stagnation of water increases the number of mosquitos, Contamination of water bodies with pesticides and Contribution of high temperatures among others. The problems are illustrated in the Pareto chart below. Design objectives: the design objects to solve the problem of the residents who experience high rates of surface run off during the rainy season. The design should be able to withstand percolation of water which reduces the amount of water running to the water bodies causing floods. The rain garden is designed to capture excess rainwater from hard surfaces which cannot percolate water such as driveways and cemented surfaces. The rain gardens are designed with beautiful flowers which can be attractive especially when in urban areas with poor drainage. The rain gardens are constructed with special features which enable them to capture the excess surface run-off. There are layers of sandy soil below the rain gardens which reduce the rate at which water enter the water bodies and the creeks. They are also effective in the removal of pollutants caused by fertilizers, nitrogen, dust and other wash off pollutants from the hard surfaces. Rain gardens are very effective as they can be mainta ined even in urban areas; they reduce runoff and protect the