Yield & Revenue Management

The Willingness-to-pay for a specific product is not the same for everyone. A pricing strategy based on a standard price for all sales is usually an imperfect choice. In fact, the optimum use of the Willingness-to-Pay per client (segment) ensures major – and often hidden – margin potential. But how can you make use of this Willingness-to-Pay?

Segmentation is the keyword. Segmentation can be applied in various ways. One of these is based on the time of purchase. One method that relies on this and optimises the total income with limited capacity is revenue management. This technique has been successfully applied for many years in sectors such as air travel, car hire and the hotel business.

Revenue management is orientated by the following questions:

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Which customers want to pay what price?

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When shall I change the price?

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How many products shall I sell for a specific price?

This training course gives an insight into the theory and practice of revenue management. The participants will discover the opportunities provided by revenue management .What is more, this training course will communicate to the participants the necessary theory and background that it is required to be able to apply revenue management in practice.

RESULTS

The objectives of this training course are:

▪ Knowing what revenue management can do for you.

▪ Learning the basis of revenue management.

▪ Putting you in a position to discover the opportunities of

revenue management.

▪ Knowing how to apply revenue management in practice.