Develop an effective pricing approach in tourism industry : case : The Sophisticated Geek Company
Le, Anh (2023)
2023
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Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-2023121136038
https://urn.fi/URN:NBN:fi:amk-2023121136038
Tiivistelmä
Pricing has been a key factor in the operation of the business across several disciplines. The recent developments in the field of tourism have led to a focus placed on the characteristics of the touristic offerings within the tourism pricing. While it is a growing field, publications on tourism pricing remain few. This study attempted to illustrate the pricing approach in tourism by integrating tourism characteristics with applicable pricing theories.
The objective of the thesis is to suggest an integrated pricing approach in the tourism industry. The thesis aims to evaluate the current pricing situation at the case company, which was The Sophisticated Geek, and propose suggestions to elaborate on the pricing approach of the company regarding the introduction of the new offerings. A qualitative approach was employed, integrating semi-structured interviews and content analysis, to collect and analyze data. Secondary data was gathered from reliable contemporary literature to generate a conceptual framework. Semi-structured interviews were conducted to gain insights into the pricing situation and proposed pricing approaches regarding the business situation.
Results suggest that The Sophisticated Geek acknowledged their pricing objectives and their pricing strategy towards the business direction. Many pricing factors have been taken into consideration by the company; however, no systematic pricing guidelines have been established. The suggested pricing approach for The Sophisticated Geek focuses on the commitment toward service quality and iterative process. The company is suggested to implement multiple pricing strategies while taking touristic characteristics into account to maximize the profit and gain a better customer experience.
The objective of the thesis is to suggest an integrated pricing approach in the tourism industry. The thesis aims to evaluate the current pricing situation at the case company, which was The Sophisticated Geek, and propose suggestions to elaborate on the pricing approach of the company regarding the introduction of the new offerings. A qualitative approach was employed, integrating semi-structured interviews and content analysis, to collect and analyze data. Secondary data was gathered from reliable contemporary literature to generate a conceptual framework. Semi-structured interviews were conducted to gain insights into the pricing situation and proposed pricing approaches regarding the business situation.
Results suggest that The Sophisticated Geek acknowledged their pricing objectives and their pricing strategy towards the business direction. Many pricing factors have been taken into consideration by the company; however, no systematic pricing guidelines have been established. The suggested pricing approach for The Sophisticated Geek focuses on the commitment toward service quality and iterative process. The company is suggested to implement multiple pricing strategies while taking touristic characteristics into account to maximize the profit and gain a better customer experience.