Applied Learning Assignment - Price-Quality Analysis - see below and the attached document for further explanation and instructions.

• Define the targeted quality level of a hospitality or tourism service property of your choosing. Quality should be identified by industry segment (e.g. family restaurant, sports bar, or fine-dinning restaurant; limited-service or convention hotel) as well as by quality level of tangible and intangible components of the products/services (e.g. utilizes only prime beef, provides highly personalized service, etc.)

• List the firms direct competitors as well as indirect competitors one quality-level above and below the firm.
• Explain how pricing impacts the perception of quality. Shop pricing levels, utilizing the Internet and shop calls, for the firm and its competitors; determine if the pricing level is appropriate based upon quality and the level of value provided to the customer/guest.
• Determine if the firm offers different prices to different market segments; if seasonal, how does the firm alter its pricing during the off-season versus the peak-season
• What is the lowest price the firm should charge in order to drive demand for the business? Explain the reason for your decision?
• Suggest a strategy that allows your chosen business to better compete when needed to with a competitor that is one price point above, or one price point below, your chosen property.