Apr
15
I came a cross the most bizarre thing last week.
It's a piece of software that compares your online rate with those published by a group of your competitors, then it adjusts your rate so you're positioned somewhere (and you can choose where) close to them. It'll do this all day, every day, whenever a price changes in your competitive group.
The hotelier who showed me this system beamed at me,
"Your don't have a system that does that, do you?", he said.
He's quite right of course. I don't. And for the life of me, I can't think of a reason why I'd want to.
Price is important, don't get me wrong. But just because you can do something like this, it doesn't mean that you should.
Let me explain why...
It's a piece of software that compares your online rate with those published by a group of your competitors, then it adjusts your rate so you're positioned somewhere (and you can choose where) close to them. It'll do this all day, every day, whenever a price changes in your competitive group.
The hotelier who showed me this system beamed at me,
"Your don't have a system that does that, do you?", he said.
He's quite right of course. I don't. And for the life of me, I can't think of a reason why I'd want to.
Price is important, don't get me wrong. But just because you can do something like this, it doesn't mean that you should.
Let me explain why...
Continue reading "The mysterious case of the oscillating price..."
