Raffles Hotel Singapore
1. Write definition of pricing (with 20 referencing) - at least 8 pages a) What is price (explain in price) b) Explain the steps in price planning for Raffles Hotel i) Step 1: Develop pricing objectives ii) Step 2: Estimate demand iii) Step 3: Determine costs iv) Step 4: Evaluate pricing environment v) Step 5: Choose a pricing strategy vi) Step 6: Develop pricing tactics c) Explain the advantages and disadvantage of 4 major pricing for Raffles Hotel I. Price skimming II. Premium pricing III. Promotional pricing IV. Geographical/segmented d) Discuss the competitive pricing 2. CRM Strategy (8-10 referencing) - at least 5 pages I. The concept of CRM. Why is it important to Raffles Hotel Singapore? II. Explain the CRM 4 steps to Raffles Hotel Singapore 1) Identifying your customers 2) Differentiating your customers 3) Interacting with your customers 4) Customising your enterprise's bahaviour III. The advantages and disadvantages IV. Streamline 2 key benefits for Raffles Hotel Singapore and 2 key benefits for consumers. 3. Promotion Mix (8-10 referencing) - at least 5 pages I. What are the promotion mix? II. Pick 3 and explain why is it suitable for new hotels at overseas III. What are the advantages and disadvantages for the 3 promotion mix. IV. What are the characteristics for each tools V. How are we going to use each tools for overseas new hotels VI. How effectively to use the tools for overseas new hotels VII. Ultimately choose ONE that is the most suitable. Explain why. Notes: please use APA referencing and all questions are link to Raffles Hotel Singapore.