Question

Please answer/discuss the following questions?

Assume you are the RM for a newly opened theme park in a major southwestern city. Your guests will consist primarily of families visiting the park, as well as schoolchildren on field trips and church youth groups. Yours is the only such park within 150 miles. Identify at least five non-cost factors you would want to consider as you determine the prices that will be charged for the menu items you will sell. Explain why you selected each factor chosen.

Answer 1

                                             The given case assumes that a new theme park is being opened and the expected guests of the park are the families, school children and the church youth group. Consider the fact that this is the only park available in the 150 mile range, the following are the major non-cost factors that would have to be considered for pricing

· Infrastructure: It would require a better infrastructure in the maintenance of the park so that the various customers are being provided with a better environment in the park. The items of various services have to be put in proper places and should be well maintained so that it would result in increased customer satisfactions which would improve the overall returns to the park

· Innovation in the services: Th various services provided should be innovative so that it would make the park stand different from the other ones and thus would result in attracting many customers and thus could improve the overall return as varies pricing could be set for services that are demanded.

· Availability of basic necessities: Apart from the various services to pass the time, the basic necessities should also be provided so that the customer would not have to go around to access those services and thus increases the customer base of the park

· Security of various services provided: The services provided should be secure so that the customers are retained and no additional cost has to be incurred in unforeseen situations

· Categorisation of services: Since it is given that the major customers are from three categories, specific categorisation of the servicing could be provided so that each category is being satisfied and separate pricing policy could be followed for each category