The Homework of the Economics - Pricing Strategies

Businesses can utilize different pricing strategies to sell their products or services. Before deciding on the most efficient design that will maximize profits and business sustainability, the management should assess its position to understand its pricing segment and capability. Also, the administration should evaluate their strategy towards the pricing reaction of its competitors. This report will determine Hotel del Luna; when it charges the same price per night for each guest and when it charges a different cost per night for local guests and out-of-town guests.