COURSE OVERVIEW

This highly-interactive course includes various practical sessions and exercises. Theory learnt will be applied using the “MS Excel” application. 

 

This course is designed to provide participants with a detailed and up-to-date overview of Revenue Management & Pricing Strategy Fundamentals. It covers the purpose of revenue management and core components of demand, inventory and price; the economic principlesbehind pricing, types of pricing strategies and revenue management cycle; the segmentation and customer behavior, technology in revenue management and basics of demand forecasting; and the forecasting techniques and models including inventory control in revenue management. 

 

Further, the course will also discuss the overbooking strategies, risk management for cancellations, modeling no-shows, late bookings and compensation policies; the capacity management and data requirements for effective forecasting; the strategic pricing frameworks and psychological pricing techniques; the price discrimination, segmented pricing and bundling and unbundling strategies; the discounting and promotions strategy, price testing and optimization; and the revenue management in hospitality and airlines and retail and E-commerce pricing. 

 

During this interactive course, participants will learn the subscription-based revenue models, revenue management in events and entertainment and B2B pricing strategy; building a revenue management culture and apply key performance indicators (KPIs), pricing governance and ethics, technology tools for revenue strategy and crisis and contingency pricing.