Pricing Tactics Essay

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Workshop : Group 3 (Pricing Tactics) From the presentation, Group 3 presented about Major Group. It was very interesting since Major Group used different pricing strategies in different product types and for different types of customers. Group 3 more focused on movie business of Major Group which comprised of Major Cineplex, EGV Cinemas, Paragon Cineplex and Esplanade Cineplex. They used product-mix, product-line and discriminatory pricings for their customers. By adapting different pricing strategies, they have received both successful and unsuccessful outcomes. The key learning point from this presentation was how to implement pricing strategies successfully. It is very true that we need to do the research, understand what the customers want, applying STP, apply 3Cs model especially what the competitors are doing in the industry and we need to have a specific vision in order for our pricing strategy to be successful. For my case example, I would like to share about hotel industry. I select The Landmark Bangkok Hotel as an example. Landmark has been opened in Bangkok over 20 years. During the world financial crisis and political instability in Thailand, many hotels are suffering from less tourists and business travelers. However, Landmark is not greatly impacted. Their occupancy rates are still not that low. Not only because of their great location on Sukhumvit road and the sky train station is only a few steps away but also their prices are not very high if compare with other hotels in the same area or same category. Pricing Methods  Perceived-value pricing for the customers. They would like to have their customers perceive that their room rates and services are worth the money the customers spend. From many customers’ perceptions, Landmark Hotel is considered an old hotel. However, Landmark has just renovated their hotel rooms, function

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