Starting out with dynamic pricing is a bit like learning to swim. But what if promoters just can’t bring themselves to jump into the deep end with dynamic pricing? Is there a way to wade into it cautiously, without diving in headfirst?
The new Disney seasonal pricing has some asking, “Has Disney gone too far?” The better question is, “Has Disney gone far enough?” Variable pricing is a step in the right direction, but has its limitations.
Disney announced on February 27 that it was implementing “seasonal pricing” for its California and Florida theme parks. Or was it “surge pricing?” Maybe “variable pricing?” Perhaps it was “demand-based pricing.” It might have been “dynamic pricing.” We take a closer look at what Disney did and did not do with pricing.
“Walt Disney Co.’s move to lift prices at Disneyland and its other theme parks on busy days was a novel step for the entertainment giant, but the news made perfect sense…”
Sometimes the optimal price for a ticket is less than the minimum price you’ve established. Decide ahead of time whether you’ll be willing to break your own constraints if the data tells you that a lower price is optimal.