ing of Services | The Taj Mahal Palace

Presented By

Maneet Kumar Arti Kumari

Mani Shankar Sonkushre Debarati Sen Gupta

Man Mohan Anand Monalisa Ghosh

roduction – Hotel Taj Mahal Palace

 The Indian Hotels Company (IHC) is the parent company of Taj

Hotels Resorts and Palaces.

 It was founded by Jamset Ji N. Tata on December16, 1903.

 Currently the Taj Hotels Resorts and Palaces comprises 57

hotels at 40 locations across India

 Additional 18 hotels are also being operated around the globe.

 During fiscal year 2006, the total number of hotels owned or

managed by the Company was 75
ervices at Taj Mahal Palace
Reference Prices

It is a price point in memory for a good or services and

generally consists of price last paid , the price frequently paid or
the average of all prices customer have paid for similar offering.

It differs from actual price due to :

•Service Variability.
•Providers are unwilling/unable to estimate the price.
•Individual customer needs vary.
•Collection of price is overwhelming.
•Prices are not visible
nmonetary Costs Considered in Pricing

• Time Cost
• Search Cost
• Convenience Cost
• Psychological Cost
rice an Indicator of Service Quality?
proaches to Pricing of Services
Cost Based
Competition Based

Competitive Pricing is the discipline that strategically and

tactically defines the price offered in comparison to the
market. Competitors of Taj are Marriot group ,The Oberoi
group ,Grand Hyatt group, ITC group , The Lalit Hotel group,
Leela group.
p 10 Hotels in Terms of Business

 Taj Mahal Palace & Tower, Mumbai

 Leela Palace, Bangalore
 Trident Hilton, Gurgaon
 Oberoi Udaivilas, Udaipur
 Leela Kempinski, Mumbai
 Rambagh Palace Hotel, Jaipur
 The Four Seasons, Mumbai
 Imperial Hotel, New Delhi
 Taj Coromandel, Chennai
 Sheraton Maurya, New Delhi

Source - http://www.theindiastreet.com/2007/08/top-ten-10-business-hotels-
in-india.html
Demand Based Pricing

Demand Based pricing also known as Dynamic pricing is all about

tailoring their pricing according the current supply and demand

You expect to pay more for a hotel when a city is full of conventioneers
and to pay less at a resort during the off season.

Demand changes constantly based on economic conditions and other

external factors. They offer wide ranges of products and services that
customers may value or devalue according to whim and fashion. 
Price Elasticity
Perceived Value
erceived Values (Contd.)
Thank You