1. To solve the problem between sellers and customers disagreement the sellers should clarify why exactly they set high prices. For instance, they should compare their prices with the reference prices and establish approximately the same, so that the customer could determine the sellers’ prices as fair.
2. Regarding too high price, it could have numbers of excuses high expenses, high-cost price, complicated service which demands a lot of costs and productive power.
Consequently, “too high price” does not mean unfair. However, “unfair” price is the price established to high compared to the reference one without any excuses. Consequently, unfair prices affect negatively the Revenue Managers setting prices decisions and establishing the prices they find themselves dealing with the confused customers.
3. On the one hand, the price should satisfy the customers' expectations and stay around the reference one. On the other hand, it should maximize the profit and include all expenses such as taxes, salaries etc. Indeed, the price has to be set in reasonable terms, so that the company could gain the profit and have the clients.
4. Altering buyers’ perceptions of price fairness it should be followed distinct steps. The Revanue Manegers’ steps have to be aimed at the buyers’ recognition that the set prices are fair. For instance, the price might be verified by comparing to other established price, by pointing out all the outlays, by convincing that the company provides the best services or products on the market. In case, when the price seems too high the evidences have to be provided that the company manufactures better product or offers more qualified services than the competitors. Consequently, the price is clear and fair.
5. The most significant thing, that makes customer perceive some prices fair and some are not is merely suspiciously high price combined with the incompetent buyer. Moreover, not knowing real cost price of the product or service and having incorrect prejudices, buyers continue believing that sellers deliberately charge too high prices.
Wasserman, Elizabeth. 'How To Price Your Products'. Nc.com. N.p., 2010. Web. 30 Sept. 2015.
Hayes, David K, and Allisha Miller. Revenue Management For The Hospitality Industry. Hoboken, N.J.: Wiley, 2011. …