Pricing Strategy and Revenue Management

Course Info

Date: Dec-02-2024

Length: 1 Week

City: Dubai

Fees: 3,975

Type: In Classroom

the date is no longer available,
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Available Dates

  • Dec-30-2024

    Dubai

  • Jan-06-2025

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  • Apr-07-2025

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Course Details

Course Outline

5 days course

 

Introduction to pricing strategies

 

  • Business foundations for successful pricing strategies
  • Pricing – perspectives from different industries
  • Value-Based Pricing
  • Types of pricing strategies
  • Key KPIs behind pricing strategies
  • Common mistakes in pricing
What is revenue management (RM)?
 
  • Definition and a brief history
  • Objectives, principles, and elements of RM
  • Necessary conditions for revenue management
  • Revenue management vs. yield management
  • The importance of revenue management
  • RM terms and performance indicators

 

RM and Forecasting
 
  • The economics of revenue management
  • Demand management
    • Unconstrained demand vs. constrained demand

 

All about forecasting

 

  • What is forecasting?
  • Why is forecasting so important?
  • Booking curve and pickup forecasting
  • Forecasting methods
  • Error measurement
  • Useful forecasting tips
  • Overbooking
    • A quick introduction
    • Policies concerning overbookin

 

Inventory allocation and capacity control
 
  • The basics of inventory allocation
  • Expected marginal revenue
  • Nested reservation system
  • Protected level vs. booking limit
  • Group management
 
Implementation of revenue management systems
 
  • How can a revenue management system help
  • Features of a revenue management system
  • Revenue management and data sources, analytics, and visualization

Course Video