Importance Of Pricing In Marketing

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• Price: Pricing decisions of the products and services play an important role. The price must be reasonable and not too high. If it is, the customers will not pay for it as they can look for the products or services will are offered at lower value by the competitors. However, the business should not put the price at too low as it creates doubts on the quality and value of the products and services which invites bad impression by the clients. • Place: Place, in this sense, can be refer to selling place, as well as the distribution process. For the first one, the selling place must be strategic and can be found by the customers easily. For the latter, the distribution chain must be well considered by the business because the transportation fees…show more content…
The strategies shall be adopted is that the business shall put a normal price rate for the purchasing of the products and services provided. Whereas, for the certain seasons in which the demand is higher, the organization may put the price at a higher rate and thus gain higher revenue. And, for the seasons where the demand goes lower, the organization may offer the products and services at a lower rate or it may give promotion to the guests as a reward under loyalty program. Some established hotel has its loyalty program and for the customers that attain certain level can enjoy the benefits offered such as room and facilities…show more content…
The advertisement can be an efficient way as it covers a lot of areas such as the advertisement board, social media, TV and radio advertisement, magazine review. The effective and creative advertising plan can be portrayed through a short clips which is viral in the social media. The short clips or advertisement is very popular as one of the good promotional activities in Thailand as the business would invest money and made a short clip which is eye-catching and with funny or thought-invoked themes. This kind of clips can give the direct message to the customers and thus attracted the customers to find out more about the business. Hence, I would recommend Hotel 81 Singapore to try on the new and creative promotional activities in order by promote their facilities available and their good quality of services. For that to be happen, the business shall also allocate a budget for its promotional

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