Case Study: The high cost of never promoting

May 22, 2019
 

Many people think that discounting costs them money, but if you NEVER promote or discount, it can be costing you much more.  Remember that simple discounts and price reductions are not the same as well thought out promotion strategy. 

Naturally, this strategy depends on your property and whether you have a brand as strong as Four Seasons or Apple, but online marketplaces are full of consumers looking for VALUE and comparing rates in Expedia, Booking.com, TripAdvisor, and Google. 

The dictionary definition of the word Bargain is:  "a thing bought or offered for sale more cheaply than is usual or expected."  The very concept of a bargain or getting value is based on customer expectations and psychological perception.  Of course this can be taken too far, but watch this short video post for a real-life example of this strategy and the results.  

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