Nate Davies
  Jimmy Xu
  Business 260 - Marketing
  April 19th, 2018

Which pricing strategies does Airbnb use?

I  would say they use a combination of strategies being primarily economy and premium. This is because they recognize some homes are lower quality and cost less and their are high-end homes worth much more money.
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2.      Does the number of reviews matter for an Airbnb host?

The number of reviews places a significant role in people propensity to pay for the rental as does the type of photo one uses to advertise the listing.

3.      The article mentioned the various attributes affecting an Airbnb rental list. Which attribute matters the most? Why?

The most important were reviews because people trust others who have shared experiences. The second is the picture you use to illustrate how "cozy" the room or home may be. The next is the time of the year. The example is the need for bed spaces in Brazil. This does matter because travel is highly seasonal. There is also the geographic location relative to the groups of homes around it. It can cost half as much to stay about couple blocks difference.

4.      How does the machine-learning model help a host manage the rental list?

It gives them the points of reference and confidence to maximize their income. For example, they don't take the first offer and lose out on funds or wait until the last minute and receive nothing at all.

5.      Listed below are a series of pricing strategies/polices. Place them onto the correct section of the matrix and explain you choose that strategy.
  • Holiday Inns try to fill hotels during winter weekends
Economy
  • Burger King introduces a new range of value meals.
Economy
  • Nokia launch a new videophone.
Skimming

  • Wall-Mart launch a new range of own-label soups.
Economy
  • Cunard launch two new cruise ships.
Premium
  • A cable TV provider moves into a new area and needs to achieve a market share.
Penetration

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