Question

you have decided to open a gym. List 2 price differentiation strategies you could employ and breifly explain how each would work

Answer 1

The two different pricing stratergies which are helpful in gym success is that group pricing and time based pricing.

In group based pricing the two or more products are grouped and fixed a certain price thus making a combined pricing . This type of pricing attratcs customers to use the equipments which they are intrested thus making them attractive. This type of pricing will be helpful.

In time based pricing keeping the price for a particular time period so during this time period the customers can use any number of items. Thus these type of items are attractive to customers who wanted to use more items.

So these two stratergies will be used for the better development