How Royal Caribbean gets customers to spend more money


Courtesy of Conde Nast Traveler

  • Royal Caribbean increased revenues by allowing customers to purchase more goods and services they would use during the cruise while they were booking it.
  • Doing so makes onboard expenses seem smaller at the time of purchase and changes the way customers think about their spending habits once they’re on the cruise.
  • The phenomenon is explained by an economic theory that businesses use all the time.

How much should a TV cost?

It seems like a simple question, but it can be a difficult one to answer. Of course, it depends on factors like size and quality, but once you’ve determined those, it’s still difficult to figure out what the price should be without referring to other TVs you seen, owned, or read about in the past. 

Even then, a $700, 55-inch…

Read More

*** This news item is 3rd party content and is included strictly for non-commercial informational purposes.

320ro

Comments

comments