Module 6 – Make the Competition Work for You
Duration 2 hours approx
- How can a comprehensive understanding of your position in relation to your competitive set drive revenue efficiencies in your business?
- Do you know how to structure competitor analysis to highlight your USP’s allowing you to make more profitable pricing decisions?
- Could you benefit from an objective perspective on your competitor behaviour so you can make informed and rational pricing adjustments in response to these.
What will you learn?
Completion of this module will demonstrate how important a solid understanding of your position relative to your competitor set is to driving optimal revenue strategies. Walk through a step by step approach to evaluate your hotel in relation to your competitors, revealing strengths and USPs that will impact your pricing strategies. Armed with this renewed understanding and confidence in your position in the market place, you will avoid reacting to competitor behaviours and make informed and rational pricing that make sense for your property.
This is for you if you are
- A Hospitality business owner, with limited access to revenue management and pricing expertise who would like to understand how to easily and effectively influence pricing decisions.
- An aspiring revenue and commercial manager within a hotel who wants to make a valuable contribution to profit discussions.
- A service provider to hospitality businesses looking to engage fully in commercial conversations at client meetings
What will you get
- 6 easy to follow instructor led tutorials provide a step by step guide to plan to evaluate your position within your comp set and make pricing decisions with confidence
- All the theory is covered in a workbook as a handy reference to reinforce your online learning
- ‘Test your Understanding’ with our Quiz
- Need some additional support? Our online forum is the place to connect with teachers and fellow students. Ask a question, seek advice, share your wins
- A practical example of the Price Positioning Matrix , an invaluable addition to your revenue toolkit, helping you determine the optimal pricing strategy.