Marketing 8

Purpose

To assess your ability to:

• Catalog offerings in competitors' portfolios.
• Recommend a pricing strategy for the product.

Overview

By now you likely have a good idea of the kind of service you intend to provide through your bed & breakfast or small hotel. Now it is time to stretch the depth of your product line.

Action Items

• Write a one page brief outlining your product line.
  • You must have at least three levels of depth in your product line.
    • Detail what each of these levels.
      • Describe the amenities and/or services that would be included in each.
    • List the price you would set for each level and explain the basis for that pricing.
      • Will certain levels included additional services beyond the core service? Will you need additional staff to provide these services? Will higher quality amenities cost you more to provide? Will you base the price solely on your costs, or will you incorporate consumer demand? If so, how?