Activity: Identifying the Right Pricing Strategy

Instructions
1. Prior to class, review 4 price strategies to maximise profits during the high season
(https://www.trekksoft.com/en/blog/yield-management-pricing-strategies-to-maximise-profits-
during-the-high-season).
2. Individually, read The right pricing strategy? case study.
3. Working in a small group, answer the questions that follow the case study, as well as the
additional questions below.
4. Be prepared to discuss with the class.

Additional Questions
1. What is the name of the pricing strategy used by Wet ‘n Wild?

1. The Wet and Wild Company used a premium pricing strategy, selling tickets for
$120. At the moment, The Wet and Wild Company's customers are disappointed
with the park's offerings. The main reason for this is because some consumers are
unable to use the waterpark services despite paying for them. Customer happiness
is critical to the business's continued prosperity. Their level of happiness, for
example, influences their post-purchase behavior, such as whether they become
loyal to the brand or encourage others to buy the goods. The remedy to this problem
appears to be a change in the company's pricing policy..

2. What seasonal pricing strategies could have been used to aid in visitor traffic demand while
maximizing revenue?

2. A seasonal pricing strategy will help you avoid cash flow losses during low
seasons while maximizing profits during peak seasons.

 Pricing for off-peak and peak times. Variations in client demand should be
accommodated in your pricing approach. ...

 Holiday-based marketing techniques ...

 Reuse and recycle whenever possible.

3. Since the park was purchased and renamed to Raging Waters Sydney, what pricing
strategies are currently being used?

© 2021, Southern Alberta Institute of Technology 1

  The off-peak rate in Time-of-Day Pricing is currently being as a designed to
encourage customers to shift their energy use from peak periods to periods when
energy demand – and price – is normally lower.

Note: This information can be found on the Raging Waters Sydney website
(https://ragingwaterssydney.com.au).

© 2021, Southern Alberta Institute of Technology 2