Revenue Management & Dynamic Pricing

Course details

Senior level executives who are responsible for maximization of revenue. We are looking for persons who are engaged in developing or improving pricing systems in hotels, airlines, railways, car rentals, restaurants, internet service providers, movie theaters, broadcasters, healthcare, trucking, transportation service providers, energy, petroleum, sporting complex, cricket associations, cruise liners, and manufacturing.

Objectives

• Revenue management is a scientific way of dynamically managing prices, inventories, and capacities of perishable services. It is the science and art of dynamically managing prices to maximize revenue and remain competitive. The general principles of revenue management are widely applicable although each particular application needs to carefully address the requirements of a specific industry. There are numerous demonstrations of the impact of revenue management in various industries. Studies have found that for the average S&P 1500 company, a price increase of 1% would generate an increase in profits of 8-12% that is an impact 50% greater than a 1% cut in variable costs and 300% greater than a 1% increase in volumes.

The Programme Aims To:

• Provide an insight into concepts of revenue management
• Provide an understanding of how revenue management systems improve revenue
• Acquaint participants with various tools and techniques used in revenue management
• Discuss the practice of revenue management in various industries
• Discuss the technical and organizational challenges for implementing revenue management systems

Content

• The business process of revenue management
• Economics of revenue management
• Perishable services pricing
• Inventory allocation
• Capacity management
• Legal issues of revenue management
• Case Study and practice in Indian context
• Implementation of revenue management in an organization