Pricing Strategy Bootcamp - Session 1/3

Define the pricing problem • Hugh’s erroneous fear of $10 • Real numbers - How much does pricing affect profitability o Admission vs. $1 increase o Admission vs. Three-Tier Pricing o Admission vs. Admission+Merchandise o Pick-Your-Own vs. PYO+Low Admission • % change & profit matters Reasons why pricing doesn't change • Cheap Internal Beliefs • Pain Aversion • Irrational Belief In Rationality