Neuromarketing aspect of tourısm pricing psychology

The price of a product is the key determinant of the revenues and profits of a tourism or hospitality business. Customers form their value judgments of a touristic product or service based on the price they have paid. Moreover, the price of a touristic product or service may have psychological influences on the customer. Thus, the way prices are perceived by potential tourists is of paramount importance. Against this backdrop, this study aims to provide insight into how tourists perceive prices and pricing issues. In particular, it provides neuromarketing examples to explain how tourists perceive prices in holiday advertisements in terms of design features, positioning and content.