Sunday, October 30, 2011

Pricing Concepts


When Marriott Hotels sets their prices for their services they are thinking in the best interest of their customers as well as also keeping in mind the importance of the profit to stay in business. Marriott structured themselves with the ability to charge the "reasonable price" for the service being provided and make a profit that would reflect on better tomorrows for the company. Pricing is very important to any company considering there will always be competitors where you can pay less for the same type of service. So when you provide outstanding service customers realize the cost may be higher for the quality services they are being provided. Most customers see the value of the good or service through the price and by the information research. If the price is too high they might want to shop around. But if they have done their research and know the quality of the service or good then they will not mind paying more for it.

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