Today's Revenue Management thought:-

Empathy in Pricing: Understanding Customer Perceptions

Empathy in pricing begins with understanding the customer's perspective. It involves considering how customers feel about the price of a product or service, including their financial situation, perceived value, and emotional reactions. 

Hotels that show empathy in their pricing are more likely to create offerings that customers feel are reasonable and justifiable. T

his may involve flexible pricing structures, tiered pricing, or discounts for specific groups like students or seniors. 

By putting themselves in their customers’ shoes, hotels can reduce the likelihood of pricing being seen as exploitative or out of touch, thereby improving customer satisfaction and increasing the likelihood of repeat purchases.

Have a profitable week !

✌🏼