Price-sensitivity measurement: A tool for the hospitality industry |
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| Affiliation: | 1. Center for Outcomes Research and Evaluation, Yale New Haven Health, New Haven, CT, United States of America;2. Yale University School of Medicine, Division of Cardiovascular Medicine, New Haven, CT, United States of America;3. Baptist Health South Florida, Miami, FL, United States of America;4. Michael E. DeBakey Veterans Affairs Medical Center, Houston, TX, United States of America;5. Baylor College of Medicine, Houston, TX, United States of America;6. Section of Cardiovascular Medicine, Department of Medicine, Yale School of Medicine, New Haven, CT, United States of America;7. Department of Health Policy and Management, Yale School of Public Health, New Haven, CT, United States of America |
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| Abstract: | Instead of using such pricing methods as gut feel or trial and error to determine the “right” price for products or services, a hotel or restaurant operator can use a relatively simple survey tool to measure customers' price sensitivity in advance. |
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