Pricing Objectives and Pricing Strategies of the Hospitality Industry in Tourism Destination at Emerging Markets
Description
The database utilized in this research is intricately connected to the study's examination of pricing objectives and strategies within the hospitality industry. It serves as the foundational data source, comprising survey responses from 417 hospitality companies located in a tourist destination. This extensive dataset allowed for a robust application of quantitative methodologies, including Exploratory Factor Analysis and Logit Regression, which were essential in identifying and condensing the pricing objectives into three primary dimensions: increasing sales, market enhancement, and achieving financial targets. Moreover, the database enabled the exploration of how these objectives are linked to four distinct pricing strategies: Cost-Based Pricing, Image-Based Pricing, Differentiation Pricing, and Cash-Based Pricing. Despite the limitations imposed by the evolving nature of pricing objectives and strategies, the comprehensive data collected provided valuable insights into the strategic pricing decisions within the hospitality sector.
Files
Steps to reproduce
Data was gathered using a survey. Along with the survey questionnaire, the survey packet included a formal letter on university letterhead assuring respondents' complete anonymity and confidentiality and outlining the academic goal of the study (Alasuutari et al., 2008). It became clear that in small businesses, pricing was largely a top-management decision, as a result, the questionnaire was distributed to the owner, or managing director, or an equivalent position. The survey targeted companies that cater to tourists visiting the destination. Specifically, the study identified several types of establishments, including inns, tourism agencies, vessels and boats, bars and restaurants, and retail stores offering souvenirs and mementos. Data were gathered on-site utilizing an online questionnaire accessible via mobile devices such as cell phones and tablets. A printed version was also available if the respondent felt uncomfortable using a mobile device. Alasuutari, P., Brannen, J., & Bickman, L. (2008). The SAGE handbook of social research methods. SAGE Publications Ltd.