Tourism Supply and Demand

Camilleri, M. A. (2018). Tourism Supply and Demand. In Travel Marketing, Tourism Economics and the Airline Product (Chapter 8, pp. 139-154). Cham, Switzerland: Springer Nature.

20 Pages Posted: 17 Dec 2018

See all articles by Mark Anthony Camilleri

Mark Anthony Camilleri

University of Malta; University of Edinburgh

Date Written: December 1, 2017

Abstract

The demand for tourism products may be affected by the marketing mix elements, including the nature of the product or service, its distribution, its promotional strategies and its price. Price is the only element in the marketing mix which actually produces revenue. However, the setting of a price is not an easy task, as there are a number of pricing strategies which any travel business may apply, including; prestige pricing, penetration pricing; cost-based pricing; differential pricing and uniform pricing. Moreover, there are a number of factors which will influence what type of pricing strategy could be employed. Such factors include; corporate objectives; the marketing objectives, and the organisations’ cost levels, among other matters. This chapter explains the various approaches which may be utilised when setting prices. Ultimately, the customers themselves will decide whether the product that is being supplied to them will meet or exceed their expectations.

Keywords: tourism economics, supply, demand, pricing, pricing strategies, price skimming, penetration pricing, cost based pricing, differential pricing, uniform pricing, airline marketing, revenue management

JEL Classification: M00, M1, M3, M10, M30, M3, Z3, Z30, Z32

Suggested Citation

Camilleri, Mark, Tourism Supply and Demand (December 1, 2017). Camilleri, M. A. (2018). Tourism Supply and Demand. In Travel Marketing, Tourism Economics and the Airline Product (Chapter 8, pp. 139-154). Cham, Switzerland: Springer Nature.. Available at SSRN: https://ssrn.com/abstract=3289478

Mark Camilleri (Contact Author)

University of Malta ( email )

Department of Corporate Communication,
Faculty of Media and Knowledge Sciences
Msida, MSD2080
Malta
79314808 (Phone)

HOME PAGE: http://https://www.um.edu.mt/profile/markacamilleri

University of Edinburgh

27 Buccheluech Place,
The Business School
Edinburgh, Scotland EH8 9JS
United Kingdom

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