Car Rental Industry & Elasticity
The rental car industries as well as other industries within the travel market are challenged with developing a pricing strategy that will maximize profits for the firm. In our analysis of three firms, Hertz, Avis and Budget, our team used qualitative and quantitative methods to develop an understanding of their pricing strategies. We wanted to determine which company has the best overall pricing strategy. Furthermore, these methods helped us develop recommendations involving segmentation and brand differentiation that will help these rental car companies insure greater profitability through pricing that will minimize consumer surplus. Our examination of the three rental car companies and their pricing strategies begins with industry and financial analysis, continues with a discussion of yield management, and then moves on to review two approaches to determine if market segmentation will lead to increased profits for the automobile rental firm. Finally we will propose some tactics......
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Approximate Word Count: 3806
Approximate Pages: 16 (250 words per double-spaced page)
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