Singh, A. Driving value through pricing: Strategies adopted by managers in price sensitive and fierce competitive markets in Jauhari, V. for the book, “Creating Memorable Customer Experiences-Insights from Hospitality Sector”, Apple Academic Press, Inc., USA

Hotel managers have always faced the challenge of use of pricing strategies to achieve both revenue and customer satisfaction. The objective of this paper is to identify existing practices of price setting in hotels of National capital region and strategies adopted by managers in price sensitive and fierce competitive market. This information will enable us to analyze the thoughts and price pressures hotel managers go though in driving value for customers through pricing strategies and to make recommendations accordingly.

The chapter uses qualitative primary research through structured open ended interview to discuss in detail pricing strategies. The interviews will be conducted with senior management responsible for pricing decisions like revenue managers or General Managers from a spectrum of hotels in National Capital Region of India. It’s imperative for the hotels to understand the perceived customer value of the product or service in a global context and respond appropriately to change in the market conditions. This research will provide the understanding of the intentions of the hotels towards pricing strategies and the overall aim to be achieved through pricing. This makes this research quite valuable for academic researchers and practitioners to understand the factors that could be important for sustainable pricing strategy.

http://www.appleacademicpress.com/hospitality-marketing-and-consumer-behavior-creating-memorable-experiences/9781771883788

Vedatya

http://www.vedatya.ac.in/

Vedatya Institute is an initiative of IIT & the Wharton School alums who wish to replicate their own quality educational experience for the benefit of students in India. It was established with the active support of corporations such as - The Carlson Group - USA and the Edwardian Group, UK. The name Vedatya reflects institute's core values of research driven faculty, world class curriculum, international placements and student orientation. "Ved" in Hindi means knowlege and "Aditya" means Sun. Vedatya therefore is a coined term that means "source of knowledge". The institute was established in the year 2000 as a higher learning institution in India offering internationally recognised undergraduate and postgraduate programmes of study in the professional areas of hospitality and business management. The institute's campus, located on Gurgaon - Sohna road, is fully integrated with academic, recreational and residential facilities for students. Vedatya has an academic partnership with InterContinental Hotels Group (IHG) in the form of an IHG Academy. Vedatya is also the first institute in India to have an internationally branded on-campus training hotel, Holiday Inn. The Vedatya Institute is funded by the Umak Group that has business interests in India's Hotel, Restaurant, Education and Real Estate Industry.

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