Pricing Puzzle The Critical Element of Pricing in Business - 275 Words

The Pricing Puzzle: The Critical Element of Pricing in Business (Essay Sample) Content: The Pricing Puzzle Name: Course: Instructor: Date: Every article, book or video, read or watched, always creates an impression on either the reader or the viewer. So is Jon Eliots article, the pricing puzzle. After reading the article, the reader gets the feeling of contentment from the initial feeling of being informed. The article is very informative to a business student or any individual venturing in the business field. They, through the information, can agree or disagree with the outlined concepts, identify or not identify with it, be able to fit it in their course materials, and derive the best way t evaluate it. A business student or one in the business field can agree with Eliot on a number of concepts he presents. It is true that pricing is a very critical factor not only in a hotel, but general business success. There are also for sure, factors that need to be considered in a business like market, competition, the consumers or customer preferences, demand and supply. It is also quite true that there is no way supply and demand concepts can be considered independently since they both rely on each other and are complementary (Eliot, 2013). The reader as a business student identifies with Eliots situation in two ways. One way is as an analytical guest who has to consider different conditions before b...