travel, hotel and booking Information

While developing your pricing strategy, it is important to remember that there is an implicit relationship between price and value. We expect to pay more for gourmet food than for fast food and for a luxury car than for an economy model. At the same time, value is a matter of opinion, not fact. I prefer a new Subaru to a '95 Cadillac; my husband prefers the opposite. His wardrobe is built around Dickies; my taste runs to rather more eclectic (and non-synthetic) clothing.

Hotel Booking Given that there is a relationship between price and value and that value is a matter of opinion, I had always priced my products and services by triangulating three factors: what I wanted or needed to earn, my costs, and what the market would bear. That's what I had taught countless other people to do, and it worked fine. All else being equal, quality, price, and market generally reached a dynamic balance where prosperity and service overlapped.

Finding a reasonably priced hotel in New York City is tough all year round where $350 a night rooms are commonplace f you can book them.

Travel Agency But, once came the day when something felt out of synch in the way I used that marketing strategy, and I felt some gritchiness around the prices of products I recommended. I kept examining my assumptions, and everything seemed right. Still, the feeling that something wasn't quite right persisted.

Find and book unique hotels around the world with Kuoni Travel, Britain's best luxury travel and tour operator.

Cheap Hotel Never one to ignore an itch, I kept scratching until this week I realized what the problem is. I had been using quite different "markets" to assess what the market would bear. That is, I'd been looking at markets that had different values from the values of many of the people I attract. I based my pricing strategy and marketing on the proven best practices of other respected "info product" gurus, but those practices were designed to address the values of people who didn't, and probably never would, be attracted to my e-zine.

* Priceline's Name Your Own Price® price travel sites like Hotels.com and Expedia.com. With Priceline's Name Your Own Price® reservation service, the exact hotel is shown only after purchase. Name Your Own Price® Hotel examples shown are for offers booked between June 9 and Septmber 11, in between September 1 through November 15, 2006 and do not include applicable taxes and service fees. Percent savings shown above are as compared to the published prices shown on Hotels.com and Expedia.com for the same hotels and the same dates. There is no guarantee that hotels or prices will be available. Actual prices and availability are always subject to change. All prices and dates may not be available at time of travel booking and savings are not guaranteed.

Flight Booking Readers of my e-zine were a special case. From their emails and phone calls, I knew that they placed a high value on authenticity, intelligence, and creativity. I knew they had high standards for courtesy, honesty, and what I might call "finish." They were tolerant of mistakes (assuming they were acknowledged). They had a sense of humor, a hunger for spirit, and a fundamental commitment to growth. At the same time they tended to be a frugal lot, willing to pay for high quality, but unmoved by hype and positively turned off by pressure tactics.

Name Your Own Price® Hotel examples shown are for offers booked between November 23 and December 14, in within 7 days and do not include applicable taxes and fees. There is no guarantee that hotels or prices will be available. Actual prices and availability are always subject to change. All prices and dates may not be available at time of travel booking and savings are not guaranteed.

Travel Agent The generic information marketing model is designed to address the needs of people for whom profit is an over-riding value. These folks -- many of them good souls indeed -- thrive in the hyper-stimulating atmosphere of the motivational circuit: loud, upbeat music, extravagant challenges to dare to be great and simple formulas for achieving success. The more costly the package, the more this customer tends to believe in its value. And I'm willing to suppose that for the right person, that value can be substantial.

Strategy 1. Budgeting strategy Budgeting strategy involves setting the right level of investment in paid search and allocation of this budget between the different paid search networks and the campaign components within the structure of the account. In this section we look at setting the right overall level of investment in paid search and also in setting the right bidding or price levels for when your a.....

Hotel Chicago But this model didn't fit me and it probably didn't fit my e-zine readers, either. More than likely, they were past believing in "7 Steps to Instant Gratification." They probably didn't believe in easy answers, however much they might sometimes long for them. (Me, too.)

Online Booking The bottom line is that, in that case, so-called "best practices" just didn't apply. The sophistication, values, and life experience of this community constituted a different market, and we would just have to develop our own best practices.

Travel Health Insurance What would those practices look like? My hunch was:

Hotel Reservation Transparency: No fake sales; any specials should be clearly linked to a business purpose, and the regular retail price should always be fair so if you miss a sale you can feel good about buying at another time for full price.

London Hotel Booking -- Clarity: Accurate, no-hype descriptions of products and services.

Discount Travel -- Simplicity: Prices expressed in whole dollar amounts. Forget the "95 cents" gimmicks. We can round up!

Orlando Hotel -- Trust: Simple returns and exchanges.

Booking Agency I evaluated the marketing and pricing strategy for my products and those of affiliates, keeping asking the questions that gave birth to "Authentic Promotion" in the first place: "What's bugging me about the way I do (or think I have to do) business? What am I assuming? What is the truth of this? What if the truth were not a problem?"

International Travel Medical Goldilocks tried three chairs, three bowls of porridge, and three beds before finding the ones that were "just right." In much the same way, your working toward "just right" prices and marketing methods will definitely pay off, as it did for me. I believe this price-value matrix will help you to find your "just right" price!

New York Hotel For example, my client sells a course which is a comprehensive self-guided seminar that transforms fears and resistance to marketing into grounded advocacy for good work. It's a high value, if she does say so herself. Still, it has a medium price because she is still working on way to convey to potential purchasers the potency and efficacy of this course. One way she is doing that is to develop a series of follow up emails that remind buyers of key practices and principles, that ask powerful questions to help them move forward, and that suggest specific sections of the program that solve specific challenges. As she develops this support, she will be able to charge -- and receive -- a higher price.

Online Travel Booking PRICE-VALUE MATRIX
(please see the chart at http://www.authenticpromotion.com/pricing-strategies/pricing-strategy-matrix.html):

Travel Medical Insurance HIGH VALUE -- LOW PRICE

Miami Hotel Underpriced: value undercut by price. "What's wrong with this picture" pricing strategy.

Air Deccan Booking HIGH VALUE -- MEDIUM PRICE

Las Vegas Nevada Travel Attractive pricing: ideal for market penetration. "More for your money" pricing strategy.

Las Vegas Nv Hotel HIGH VALUE -- HIGH PRICE

Hotel Florence Booking Online Premium pricing: prestige, prominence. "Connoisseur" pricing strategy.

Orlando Travel MEDIUM VALUE -- LOW PRICE

Hilton Hotel True bargain: may be a temporary special to raise revenue or to move discontinued items. "Inventory sale" strategy.

Booking Delta Com MEDIUM VALUE -- MEDIUM PRICE

Travel Insurance Online Price and value are in balance, exclusive of other factors. "Square deal" pricing strategy.

London Hotel MEDIUM VALUE -- HIGH PRICE

Online Hotel Booking Overpriced: informed buyers will stay away; sales may be made to unsophisticated market. "Infomercial" pricing strategy.

Travel Insurance LOW VALUE -- LOW PRICE

Paris Hotel Cheap stuff. Often sold with lots of "bonus" items or features. "Tourist trap" pricing strategy.

Airline Booking LOW VALUE -- MEDIUM PRICE

Travel Trailer Turns sales into complaints. "Caveat emptor" pricing strategy. ("Let the buyer beware.")

San Francisco Hotel LOW VALUE -- HIGH PRICE

Air Ticket Booking Don't even think about it: the "Fleece 'em and run" pricing strategy.

Cheap Travel * * *

Bangkok Hotel Use Molly Gordon's Small Business Marketing Resource to cast a fresh eye on your business practices -- niche marketing, self promotion, marketing plan components, pricing strategies, and work life balance, and become more vibrant, more authentic, more engaged in your life as well as your work, effortlessly attracting business.

Music Booking About the author:

Travel And Tourism Molly Gordon, MCC, is a leading figure in business coaching and personal growth coaching, writer, and a frequent presenter at live and virtual events worldwide. Join 12,000 readers of her Authentic Promotion® ezine, an invaluable small business marketing resource helping you grow your strong business while you feed your soul, and receive a free 31-page guide on effective self promotion.

New York City Hotel

Air Asia Ticket Booking Molly Gordon, MCC, is a leading figure in business coaching, writer, workshop leader, frequent presenter at live and virtual events worldwide, and an acknowledged expert on niche marketing. Join 12,000 readers of her Authentic Promotion® ezine, an invaluable self promotion and small business marketing resource, to grow your strong business while you feed your soul.

[ Comment, Edit or Article Submission ]