What is pricing strategy? Discuss the factors influencing pricing decision with special reference to travel and tourism services? .
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Pricing is considered to be one of the most important marketing tools in sales and sales promotion. Pricing is also one of the important topics that businesses should be careful about if they want to have an edge over their rivals in the market. Pricing is a process controlled by business itself.There are internal and external factors pricing depends on. Internal factors are: marketing strategies, cost structure and cost decision mechanisms. External factors are; market and demand structure, product price of opponents, chain of distribution and legal legislation.This study aims to determine the factors affecting prices of products and pricing strategies of businesses. In this study, exploratory research was used so as to determine the pricing strategies of 4 and 5 star hotels operating in the Southeastern Region of Anatolia. As a result of the analyses, the most important factor affecting pricing was found out to be costs.