The 2017 pricing survey results. What pricing strategy worked? What was the pricing dynamic? | Perfect Price
We partnered with Auto Rental News to survey the industry about pricing strategy, dynamic pricing moves, remarketing and other key concerns. Most of the answers surprised us. Read on to be surprised yourself.
Pricing is the priority
Respondents, who were managers or higher (0% were individual contributors, with 7% being in administrative roles), reported that retail rental pricing was their company’s “highest priority” ( 57%), with fleet acquisition and remarketing second and third respectively–by wide margins. Surprise? (Ok, this may be because the people who did the survey were focused on pricing… and frequently the two divisions don’t interact much).Fleet planning and remarketing drive substantial profits and require careful thought and planning, as well as a lot of manpower. Pricing tends to be isolated in a handful of people, with well oiled routines. Why is pricing overwhelmingly the most important focus?
Because… pricing is dynamic
Just like the weather, the pricing climate depends on where you are.But it also depends on who you are, and who else is near you. As you can see, while some respondents saw prices down this year, just as many (more, in fact) felt they were either about the same or up. More than 2/3 said the pricing dynamic is the same or better than last year.
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The 2017 pricing survey results. What pricing strategy worked? What was the pricing dynamic?.
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