Price analysis is very important in golf marketing but most golf properties fail to conduct this analysis properly. Most golf courses are raising their green fees to X but they have no solid research to substantiate the increase. What they must do is go out into the marketplace and find out what is the true value of their golf property.
It doesn’t matter what you think; what matters is what the golf market thinks. Find out how much the golfer is willing to pay before you put some arbitrary number out into the marketplace for your golf memberships or your golf rates. The golf market may or may not have the same perceived value of your golf products and golf services as you do. Your perceived value might be irrelevant to the paying golfer who will dictate your pricing structure; or at least a portion of it.
You can’t just set your desired rate for a round of golf or for a golf membership without conducting some elementary research. What you have to do is look at the golf market and find out what your golf property can command. Failing to analyze your pricing structure is marketing suicide. Find out how much other golf properties are charging their golfers. Find out what the golf market is willing to pay. Then find out where you fit into the picture.
Just because you want to charge $70.00 per round does not mean the perceived value within your golf market is also $70.00 per round. It is perfectly fine to charge whatever you want for destination golf because golfers are coming from beyond your market area and therefore are willing to pay to play golf at a new/different course. But when you are marketing to your local market within your immediate 10 to 20-mile radius, you must conduct a price analysis to find out what your golf property can command.
Conduct a price analysis to find your sweet spot within your community and you will grow your golf course, the game and your golf career.
For more free tips on growing the game, increasing rounds through golf course marketing, golf marketing, golf course campaigns, golf campaigns, professional golf membership sales and advancing your golf career visit us today @ www.golfmarketingmmc.com or call 904-217-3762.