Case Study : Dynamic Pricing and the Golf Industry
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This case study focuses on dynamic pricing schemes in the golf industry. The study uses information about other markets that implement dynamic pricing strategies to provide information regarding the tactic and its effectiveness. Furthermore, it focuses on the effectiveness of using dynamic pricing at resort type golf courses, public golf courses, and highly acclaimed public golf courses. Five different interviews with four separate golf courses and one owner of a dynamic pricing software for golf courses, provided the relevant information for this study. Through the interviews, it was evident that a golf course’s conversion rates are key to improving revenue and bringing in more demand. When bringing in more demand, however, courses must be aware of the market to which they are providing their services and products. Being knowledgeable of the market allows courses to find the most efficient way to use dynamic pricing tactics. When improving revenue, courses must also ensure that their rates are reflective of the products and services being provided. Implementing dynamic pricing at golf courses can impact a customer’s willingness to pay maximum prices thereby optimizing course revenue.