Two summers ago, I went bungee jumping in Whistler and the cost to jump was $120 and you become a lifetime member. Becoming a lifetime member means that everytime you jump after your first jump, you pay half the price of the orginal. In two weeks, I will be going up to Whistler again to bungee jump for a friend's birthday; however, I won't be paying $60.
Recently, Groupon (a site for daily group-coupons to restaurants, services and products) posted a discount for Whistler Bungee Jump for $65 from $130 (they raised the price). So I advised all my friends to buy the Groupon but I did not bother as I am already a member. Not knowing that when my friends called to Whistler Bungee to book the jump that I will not be paying half the price of the orginal pricing but instead I will be paying $80. The receptionist at Whistler Bungee told my friend that the member (me) should buy the Groupon and not pay for the member's price -- of course I bought the Groupon.
When I found out about this, I got annoyed because why is it that a member who has jumped before is paying more than the first time bungee jumper? This also made me question the costs of services and products.
Anyways, as all of us are becoming future marketers should we think of different and innovative ways for strategic pricing? As well as be aware of these "Groupon" deals and other deal-like sites to come. And how will it effect pricing of things in the future? Of course as a consumer its an advantage to us for cheap deals on services and products and as a marketer, sites like these will help build market share. But when determining price for a service or product, what are all the things we need to consider?
So as a consumer, the question is should I now wait for fate to post me a deal that I like and will others think the same?
Other deal of the day sites:
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