Title: An examination of popular pricing and price framing techniques in the hospitality industry and directions for future research
Authors: Anna S. Mattila; Yixing (Lisa) Gao
Addresses: School of Hospitality Management, The Pennsylvania State University, 224 Mateer Building, University Park, PA 16802, USA ' School of Hospitality Management, The Pennsylvania State University, 201 Mateer Building, University Park, PA 16802, USA
Abstract: Pricing in the hospitality industry is significantly different from pricing in the traditional consumer goods market. This paper focuses on price framing and customer reactions to different price presentation formats. Specifically, we highlight seven types of pricing strategies that are commonly used in the hospitality industry, namely price endings/odd pricing, discounts framing, best available rate (BAR), package/bundling, participative pricing strategy such as name-your-own-price (NYOP) and pay-what-you-want (PWYW), and flash deals/daily deals. We offer several propositions that might sparkle interest among hospitality researchers.
Keywords: popular pricing; price framing; hospitality industry; hotel industry; restaurant pricing; customer reactions.
International Journal of Revenue Management, 2016 Vol.9 No.2/3, pp.175 - 185
Available online: 17 Jun 2016 *Full-text access for editors Access for subscribers Purchase this article Comment on this article