Universal Rental Car :
The Universal Rental Car Pricing Simulation teaches you the principles of
pricing in a dynamic and realistic management environment
Your instructions
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Tasks
1.
District manager for the Florida region of Universal Rental Car in three different
regions which vary in size, market dynamics and customer mix.
2.
Set weekday and weekend prices for each region for each month.
3.
Make fleet capacity decisions at several points throughout the simulation.
Focus
Competition between different rental car companies with players inputting
discisions for their Rental Car company with regard to price decisions.
The computer will play the role of your competitor and adjust their pricing
accordingly.
Duration
12 simulated months
Can be played :
In teams
Individually
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Learning Objective
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Explore the principles of pricing :
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The nature and dynamics of consumer response to price (price elasticities)
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Importance of understanding and accounting for differences across customer
segments and geographic markets in the pricing decisions
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Importance of accounting for competitive response when setting price
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Impact of price on overall marketplace demand
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Impact of general economic conditions on the demand function
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Economics of pricing decisions and associated marginal math
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The role of pricing in managing product inventory (e.g. stock-outs)
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Short and long term impact of pricing decisions.
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Britt Dejager
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E Britt.dejager@pricingplatform.eu
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