St. Louis Union Station – Case Study

St. Louis station case study

St. Louis Union Station – Case Study

Lodging Hospitality Measurement engaged Integrated Insight to prepare a Pricing Strategy prior to opening several attractions including an aquarium, maze, ropes course, giant wheel, and mini-golf. The strategy provided consumers flexibility and LHM a number of levers to use to respond to competitive initiatives and/or market conditions. Key components included simplifying the number of price points and establishing more consumer-friendly pricing; establishing tiers of membership to help incent repeat visitation; developing science around the marketing of price to pull consumers into higher spending; suggested promotional guidelines and specific promotions to have levers to pull in times of soft demand; stratified pricing for corporate, school and birthday groups to provide options for niche consumers; and a framework for third-party distribution to leverage additional channels to drive demand.

Category

Business Optimization, Pricing Strategy, Revenue and Profit Optimization