122630150 Revenue Management and Pricing

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Pricing and Revenue Management

(c) Stowe Shoemaker, Ph.D



Les Miserables

• The duty of the innkeeper is to sell to the firstcomer, food, rest, light, fire, dirty linen, servants,fleas, and smiles; to charge for the open

window, the closed window, the chimneycorner, the sofa, the chair, the stool, the bench,the feather bed, the mattress, and the straw bed;

to know how much the mirror is worn and totax that; and by five hundred thousand devils, tomake the traveler pay for everything, even thefleas that is dog eats.




Objective of this section

• Understand steps to better pricing• Understand Competitive Value Analysis• Review basics of revenue management• Understand price customization

• Understand Value




The Challenge of Pricing

Taxi




“There is no easy way to find out what the actual

true price of any car is. Oh sure, there is a“sticker price,” but only a very naïve fungal creature just arrived from a distant galaxy

would dream of paying this. In fact, federallaw now requires that the following statementappear directly under the sticker price:

WARNING TO STUPID PEOPLEDO NOT PAY THIS AMOUNT

-- Dave Barry




• 60.3% claimed they definitely would ask about the

room rate the next time they made a reservation• 35.7% claimed they would definitely check rates at

other properties the next time they planned to visitthis hotel

Assume that you go to make a reservation atthe luxury hotel you are loyal to and you findout that they are charging you $50 per nightmore than they usually do because they have onlya few rooms left. Please answer each of thequestions based on this knowledge.




Steps to Better Pricing

1. Assess what value your customers place on a product orservice- How to create value- What is the economic value of this product or service to

customers- Case study on Coca-Cola

2. Look for variation in the way customers value the product- Do customers vary in their intensity of use- Do customers use the product differently- Does product performance matter more to some

customers, even if the application is the same





2. Look for variation in the way customers value the product -continued

- How do differences in both perceived value and non value factors influence price sensitivity and dividecustomers into market segments

- How can members of different segments be identifiedprior to purchase

- How can fences between segments be established- How can the firm avoid violating legal constraints





3. Assess customers price sensitivity - How could an effective marketing andpositioning strategy influence thecustomers willingness to pay - Market research techniques using Excel- Behavioral aspects of pricing

4. Identify an optimal pricing structure - Bundle pricing





5. Consider competitors reactions- Who are key current and potential

competitors- If competitors are currently in this

market, what actual transactional pricesdo they charge

- Given competitors past behavior,personalities, and organization structures,

what is their goal in pricing





5. Consider competitors reactions - continued- What are competitors strengths and

weaknesses relative to the firm- How might a firm use information to

influence competitors behavior in waysthat would make its goals more

achievable or profitable





10. Understand Supply• Cost structure

• Capacity utilization• Product perishability• Extent of product differentiation

• Number and diversity of competitors• Impact of sales volume on cost





11. Understand Demand• Price sensitivity of selective demand

• Efficiency of price shopping• Degree of brand loyalty• Industry growth rate

• Buyer concentration• Complementary product





12. Understand Distribution Channels





Competitor Analysis andPositioning: Key to Pricing




Example: Importance Question

• Next, please think for a moment about the reason for visiting a specifichotel in Las Vegas for gambling. Please tell me how important eachreason is for you in your decision to visit one specific property overanother. Please use a 1 to 10 scale, where a “1” means the reason is notat all important and a “10” means the reason is very important in yourdecision to choose one establishment over another for gambling. Youmay use any number on this 1 to 10 scale.

[Ask questions in random order]

• How important is…_______________…in your decision to choose oneplace to visit over another?

– It is a place my friends like to go




Example: Attitude Question

• Now I am going to read you a list of features that may or may notdescribe some of the hotels in the Las Vegas area. We ll use a 1 to 10scale, where a 1 means it “does not describe the hotel at all” and a 10means “describes the hotel perfectly”. If you have not been to the hotelpersonally, please base your answers on what you have heard, or whatyou believe to be true.

[Ask questions in random order]

• How well does this feature describe… (brand to be rated)? – It is a place my friends like to go




Calculation of Competitive Index

1. Sum the importance ratings for all features andmultiply by the number of scale points. (The numbersare in column A in Table on next page)

2. For each attribute, multiple average importance xaverage performance. Answers in Column C3. Sum all numbers in column C4. Calculate the CSI as -- Total C/Total in A

5. Repeat steps for competitor's: see columns D and E




Calculation of Competitive Index

Importance

A

CompanyRating

B

CompanyScore

C

CompetitorRating

D

CompetitorScore

E Feature Scale: 1-10 Scale: 1-

10 A*B Scale: 1-10 A*D

It is a placefriends like to go

7.3 7.6 55.48 6.4 46.72

Atmosphere is

very pleasant

8.8 7.7 67.76 7.6 66.88

One place seemsto have betterodds

7.4 6.8 50.32 6.0 44.40

Slot machinesfilled in a timelymanner

7.5 6.8 51 6.8 51.00

Type ofpromotionsoffered

7.4 7.7 56.98 6.8 50.32

TOTALINDEX

38.4 *10=384 281.5473.3

259.3267.5




Relative Performance

Example: Casino

L e v e

l o

f I m p o r t a n c e

high

low

Brand FeelSafe

GoodEntertainment

Value ofPromotions

Slot Club

Non

Smoking

FriendlyStaff

ServicePackage

Price

Matrix of Competitive Advantages




Steps to Developing a Positioning Strategy1. Identify the competitors

– From customer s point of view

– Different competitors in different segments




Best Way to Define True Competitors

• Ask 50 – 100 customers at check-in, “If you didnot stay here tonight, where would you stay?”

• Those hotels who, if they took a pricing action, would force you to take a pricing action

• Where do you currently “walk” guests?




Best Way to Define True Competitors

• Based upon a definition of the corecustomer; different competitors fordifferent segments

• Avoid emotional opinions




Steps to Developing a Positioning Strategy

2. Determine how the competitors are perceivedand evaluated

3. Determine the competitors positions • Critical to also have reference points for

data analysis




1. Identify competitive set• Upper tier: member of competitive market

with a rate premium above our hotel

• Direct tier: member of our competitivemarket, with a rate price point approximately“equal” to our hotel

• Lower tier: member of our competitivemarket, with a rate price point below ourhotel




• Calculate for your three core customers in all threecompetitive tiers: a total of nine analysis

• Three core customers• Business transient

• Pleasure transient• Group customer

• Thee competitive tiers• Upper tier

• Direct tier• Lower tier




2. Conduct competitive pricing analysisShops for – Local hotel reservations office – Hotel 800 number

– GDS system – Internet

• Shop for leisure peak, leisure non-peak, businesspeak, business non-peak, group peak, and group

non-peak




3. Use chart to plot each competitors overall value

– Horizontal axis: plot each competitorsoverall value assessment

– Vertical axis: plot each competitors lowestavailable retail rate obtained via blind shop

– Center axis: your hotel with rate equal tolowest available retail price point




FeelSafe

There

FriendlyEmploye

es

Place MyFriends

Like to Go

AlwaysHave Good

Entertaiment

DrinkOrders

Taken inTimelyManner

CashierLines Are

Short

RestaurantsOffer Great

Value

Can getchangequickly

SlotMachinesFilled inTimelyManner

Like thePromotions Offered

You Can GetComplimentari

esoverall

averageImportance 8.20 8.20 6.27 4.80 6.12 6.37 7.49 6.33 5.67 4.80 6.15 6.40Rio 7.26 6.60 6.49 6.47 5.93 5.91 5.70 5.54 5.35 5.05 4.96 5.93Bally 6.55 5.28 3.96 4.59 5.11 5.05 4.05 4.70 4.60 3.75 4.20 4.71Boulder 7.40 6.88 6.40 5.74 6.50 5.90 6.54 6.11 5.89 6.16 6.05 6.32Caesar 7.19 5.85 6.15 5.81 5.37 5.43 4.32 4.82 5.07 3.62 3.97 5.24Circues 4.70 4.60 4.07 4.24 4.59 4.63 4.55 4.15 4.21 3.80 3.81 4.30Excalibur 6.61 5.64 5.01 4.89 5.03 5.42 5.01 5.19 5.04 4.06 4.47 5.12Fiesta 6.19 6.00 4.75 4.64 5.48 5.43 5.61 5.60 5.34 4.66 5.25 5.36

Rate CSI

Rio $179.00 59.97Bally $185.00 47.91Boulder $160.00 63.92Caesar $189.00 53.16Circues $159.00 43.41Excalibur $140.00 52.07Fiesta $155.00 54.3




$179

$185

$189

$180

$159

$155

$140

59.97Rio

47.91Bally

63.92Boulder

53.16Caesar

43.41Circus Circus

52.07Excalibur

54.3

Fiesta



Creating Loyalty (44)Process

Value(AddedandRecovery)

Communication

Fluid

ExitExitExit

Exit




Value-Based Pricing

• Involves choosing a price after developingestimates of market demand based on howpotential customers perceive the value of theproduct or service.

• Can satisfy diverse product strategies, including,for example, market penetration or profitmaximization.

• Should be the preferred pricing methodology




Question: Where Would You Buy Gas?

Station A: Sells gasoline for $ 2.30 per gallon, and gives a

$ 0.10 discount if the buyer pays with cash.

Station B: Sells gasoline for $ 2.20 per gallon, and charges a$ 0.10 surcharge if the buyer pays witha credit card.




Examples

• Which do you choose? A____ or B____

– A. Receive $50

– B. 55% chance of receiving $100; 45%chance of earning nothing




Examples

• Which do you choose? C____ or D____

– C. Loose $20

– D. 20% chance of loosing $100; 80%chance of losing nothing




Answer to Previous Question Pertainsto Prospect Theory




Prospect Theory: Basic Idea

• Value is associated not with actual levels ofconsumption, but with anticipated changes in wellbeing

• Buyer assesses prospective decision outcomes(prospects) by mentally categorizing them aseither gains or losses relative to reference point




Explanation

Station A sets reference point at $2.30 and thenrewards buyers who pay cash; that is; a gain relativeto the reference point;

Station B first establishes a reference point at$2.20 and then penalizes buyers who use creditcards; a loss relative to the reference point

This is in contrast to economic theory that predictsthat gains and losses of equal size are valued thesame


Positive Value



Losses Gains

Positive Value

Negative Value

Reference Point(state of well being)

Station A ( $2.30 – 0.10)

Station B:($2.20 +.10)

Value Function

1.6

1.0




Examples

• Which do you choose? A____ or B____

– A. Receive $50

– B. 55% chance of receiving $100; 45%chance of earning nothing• Which do you choose? C____ or D____

– C. Loose $20 – D. 20% chance of loosing $100; 80

chance of loosing nothing




Rationale for Answers

• Prospect theory states that people are risk adverse (e.g.,conservative) when considering gains; in contrast, morenaturally inclined to risk a loss than to pay even the

expected value of avoiding it.


Positive Value



Losses Gains

Negative Value

Reference Point

(state of well being)

Value Function




Economic Theory versus Prospect Theory

• Economic Theory – Gains and losses of equal

size treated the same (e.g.,£100 gain = to £100 loss)

• Prospect Theory – loss judged more painful

than a gain of equal value(e.g., loss of £100 morepainful than a gain of£100)





• Economic Theory – People are consistent in

their decision making

• Prospect Theory• If people perceive they are

in the gain domain, they

will act conservatively• If people are in the lossdomain, they will tend totake more risks





• Economic – Expected utility of

uncertain outcome is weighted by itsprobability

• Prospect – Expected utility of uncertain

outcome is multiplied by adecision weight (p) where

: – 1. Impossible events arediscarded (0)=0

– 2. Low probabilities areover weighted whilemoderate and highprobabilities are under

weighted (e.g., odds of beinginvolved in an airline crash

versus car accident)




Prospect Theory – Implications

• Increasingly larger gains are incrementally less pleasurable (10to 20 great; 110 to 120 not as great)

• Increasingly larger losses are incrementally less painful (and

smaller losses are almost as painful as slightly larger losses)

• The displeasure associated with losing a certain amount (e.g.,of money) is generally greater than the pleasure associated

with winning the same amount (e.g., of money)




Positive Value



LossesGains

Negative Value

Reference Point

(state of well being)

Value Function




Prospect Theory Leads to Framing




G l f U d di



Goal of UnderstandingFrames of Reference

1. Change the relationship between what

customers perceive they pay and whatthey perceive they get in return. And manage this relationship




Example -1Change the relationship between what customers perceive they pay and wha

perceive they get in return.

• Option 1: Oliva Cameroon Cigar for $15• Option 2: Oliva Cameroon (Figurado, 6 ½ inch x 60

ring); made by Oliva Cigar Co. – NicaraguaThe Authentic Cameroon Wrapper gives this boxed

pressed figurado a pronounced aroma of nuts, with hints of

cocoa and coffee.It is medium-bodied, but not exceedingly strong. $15




Example-2Change the relationship between what customers perceive they pay and wha

perceive they get in return.

• Option 1: Selection of teas from wooden box $1.95• Option 2: Fresh pot of Lapsang Souchong black-

smoked tea:From the Fujian province of China, this black tea is fullancient history and flavor! Smoky smooth character is

achieved through the smoking process over pine and oak fires$3.95




Example-4Change the relationship between what customers perceive they pay and w

they perceive they get in return.

• Research shows that a significant number ofconsumers DO place a value on the X brand; e.g.,for a £10 premium 56% of business travelers and38% leisure travelers are very likely to choose Brand

A

• Goal is to concentrate not on the price, but thecomponents of the brand that consumers desire• Give customer choice


Example-5



Example 5Change the relationship between what customers perceive they p

and what they perceive they get in return.

• Focus on the features of the menu item thatare different from what consumer can buy athome; e.g., Kobe beef


W T F P h D i i



Ways To Frame Purchase Decisions

1. Structure transactions to reflect gainsand avoid losses

– Present price last after descriptions – endow potential buyers




# 2 Change Way Frame Decisions




Example 1

Let customer know the cost of not bookingand paying now; that is, give the differencebetween current booking class and the nextlevel up




Examine How We Quote Rates

• We always quote low to high, which setsreference point low and the other prices a “loss”

• If we quote high price first, then other prices area “gain”




Example 2Make it simple for customer to see options – and

trade-offs


This slide sho s ho prices change



This slide shows how prices changedepending upon day of flight; keyhere is that customer sees the optionsand can make choices




Figure 3




Note: departure and returnare bundled

Customers knows price buthas to buy prepackaged

schedule




Customer chooses by schedbut does not know price


Customer can easily get bothprice and schedule and therefore it



is easy to make choice




Example 3

Frame decision outcomes in terms of gains orlosses

– do not discuss benefits of buying the product, butdiscuss the consequences of not buying the product




Example 4

Frame by Bundling Gains and Losses – un-bundle gains – bundle losses




Frame by Un-bundle Gains

• Packages such as “London for Free” – use offree bundles gain; list all the componentsseparately

• Ability to purchase upgrades by segment (e.g.,seat on UK to USA different utility than seat onUSA to UK)

• Check-in time; use of lounge




Frame by bundle losses

• Should we quote rates that include all taxes andairport fees?

• What losses that can be bundled?




Hotel Examples?




Example of Research Study Undertaking

• Test Condition: Bundling Added: 1. Utilize proper opening dialogue2. Listen to caller s requests

3. Ask repeat guest question and determine reason for stay4. Provide normal sales strategy5. At time of purchase, ask the following:




Example of Research Study Undertaking

• For an extra $15 we can offer an amenities package that includes:• no phone access charge,• 10 free local phone calls,• free received faxes,• free sent faxes,• free internet access,• one 3-minute call to call home (may call anywhere in the world).




Examples of current research

• Test Condition: Willingness to Pay forGuaranteed Bed Type:

• At time of purchase, read the following: As you are probably aware, hotels only guarantee a room, they never guarantee what the bed type in the room will be. The reason for this pertains to the fact that the bed inventory is limited and fixed. Since guests arrive at different intervals, room assignments are made on a firstcome first serve basis. This means that the bed type you would like to

have may not be available. For an extra $20 we can guarantee that nomatter what time you arrive, the bed type you requested will beavailable.




Examples of current research

• Test Condition: Willingness to Pay forGuaranteed Bed Type:

• Other test conditions:

• At what price would this guarantee service be so expensive that you would not consider purchasing this service?

• At what price would this guarantee service be expensive, but you still would consider purchasing this service?

• What price would you expect this hotel to charge for the guarantee of abed type?




Framing and Reference Price

Formation




Hotel Example: Would You Choose?

• Staying at the Venetian Hotel in Las Vegas for a vacation; Staying two nights; 3036 rooms

• Which Would You Choose?

– A: Luxury suite room at $159 and then for an additional $30you get guaranteed room on a high floor with a strip view – B: Luxury suite room with guaranteed room on a high floor

for $189, or room for $30 less anywhere in the hotel




Hotel Example

• Venetian Hotel in Las Vegas• Manipulation

– Quote $159 first (option A previous slide) – Quote $189 first (option B previous slide)

• Two Teams – Team 1: conversion 21.9%; calls 1813 – Team 2: conversion 21.2%; calls 1654




Hotel Example

• Upgrades: – $159 quoted first: 13.59% upgraded (option

A) – $189 quoted first: 20.55% upgraded (option

B)

– Translates $31,878 extra revenue for themonth to the bottom line




Restaurant Study


d



Study Design

• Eight different menus – Type of description

• Modest/Detailed – Number of items

• Three per category/Two per category

– Prices• High prices/Low prices

23


h d



Spinach and Feta Dip

• Modest Description: • Spinach and Feta Cheese with Tomatoes and

Pinenuts

• Detailed Description: • Organic Spinach Sautéed in Garlic and

Combined with Authentic Athenian Feta

Cheese, Sun Ripened Yellow Tomatoes and Toasted Pinenuts




Menu One: Detailed Menu Descriptions, High Price, 3 ChoicesMenu Two: Detailed Menu Descriptions, Low Price, 3 ChoicesMenu Three: Detailed Menu Descriptions, High Price, 2 ChoicesMenu Four: Detailed Menu Descriptions, Low Price, 2 ChoicesMenu Five: Modest Menu Description, High Price, 3 ChoicesMenu Six: Modest Menu Description, Low Price, 3 ChoicesMenu Seven: Modest Menu Description, High Price, 2 Choices

Menu Eight: Modest Menu Description, Low Price, 2 Choices

MENU DESIGN




Hypothesis Two ItemsEachMenu

CategoryHo 1 X value (high price with detailed description) = X value (high price with modest description) Mean 4.74 4.26

p=.083

Ho 2: X value (low price with detailed description) = X value (low price with modest description) Mean 4.99 4.74

P=.369

Ho 3: X value (high price with detailed description) = X value (low price with detailed description) Mean 4.74 4.99

P=.315

Ho 4: X value (high price with modest description) = X value (low price with modest description) Mean 4.26 4.74

p=.113

Ho 5: X value (high price with detailed description) ≥ X value (low price with modest description) Mean 4.74 4.74

p=1.00


Wh I fl B R f P i



What Influence Buyers Reference Prices

1. Current Price Influences2. Past Price Influences3. Purchase Context Influences4. Prices of similar items5. Price considering cost of making item yourself


1 C P i I fl



1. Current Price Influences

• Product-Line Pricing – Adding a premium product to the product line may

not necessarily result in overwhelming sales of the

premium product itself. It does, however, enhancebuyer’s perceptions of lower -priced products in the

product line and influences low-end buyers to trade u

to higher-priced items


P d Li P i i E l Wi



Product Line Pricing Example: Wine

• $38• $48




• $38• $48• $58

Product Line Pricing Example: Wine


A h i



Anchoring

• The idea is that when a person must make ajudgment, he or she starts with an initial,approximate judgment - an “anchor.” This

judgment gets the person „in the ball -park.” Then, in view of other considerations, theperson arrives at a final judgment by adjusting

away from that initial assessment


Our top room is a Park Avenue Suite decorated with an elegant



Our top room is a Park Avenue Suite decorated with an elegantEuropean accent. This suite is 900 Sq. Ft. The suite is designedwith the business traveler in mind. Suites feature a separate parlor

with a wet bar and refreshment center, an oversized working desk,2 multi-line speaker phones with call waiting, voicemail, data-port,fax machines, Lodgenet Entertainment System with movies andCD Library. These rooms overlook 56 th street or the city view of57 th street. The bedroom can be closed off from the living room.The king size bed includes five down pillows with satin-bandedEgyptian cotton Pillowcases. Suites sell for $995.00.

Position following second: Our 2 nd room type is the Metropolitan Suite. This suite is 700 Sq.

Ft.

Position following third: Our 3 rd room type is the Executive Suite. This suite is 600 Sq. Ft.


C t P i I fl ti d



Current Price Influences - continued

• Suggested Reference Prices – State a price charged previously – State a price charged by a competitor – State suggested retail price


E ample of item being tested



Example of item being tested

• If consumers are always told the normal rate, and thenprovided with a discount from that rate, they willremember the normal rate, not the discount rate. Inaddition, when the invoice is provided to the client at

check-out, the normal price will be printed. At the endthe discount will be subtracted. We should see a rise in"overall price value" compared to when customer onlysees the price paid.


Current Price Influences continued



Current Price Influences - continued

• Consider the following airline prices seen on Internet for round-tripLondon to Paris £ 310Paris to Prague £ 288Nice to Prague £ 289London to Nice £ 310

Given above prices, answer following questions:1. What price would you expect to pay to fly from London to Prague

_____2. What is the most you would pay _____

3. What is a fair price _____


2 Past Price Influences



2. Past Price Influences

• Past price paid has a particularly strong influence on thereference price because it is more likely to be recalled asa frame of reference than past prices that wereobserved in advertising




3 Purchase Context Influences



3. Purchase Context Influences

• You are lying on the beach on a hot day. All you have to drink is warm water. For the last hour you have been thinking abouthow much you would enjoy a nice cold bottle of your favoriteimported beer. A companion gets up to make a phone call and

offers to bring back a beer. The only near by place where beer issold is a small, run-down grocery store. He asks what themaximum price you are willing to pay. If the price is higher, he

will not buy it.

What price do you tell him? _____


3 Purchase Context Influences



3. Purchase Context Influences

• You are lying on the beach on a hot day. All you have to drink is warm water. For the last hour you have been thinking abouthow much you would enjoy a nice cold bottle of your favoriteimported beer. A companion gets up to make a phone call and

offers to bring back a beer. The only near by place where beer issold is a resort hotel. He asks what the maximum price you are willing to pay. If the price is higher, he will not buy it.

What price do you tell him? _____




3. Purchase Context Influences continued

• Use context as a frame of reference that makes theprice seem fair or reasonable

e.g., 8 hours tossing and turning trying to get

comfortable, versus good night sleepe.g., a day at the officee.g., What is your time worth to drive versus

to fly to airport that is not convenient?




4. Prices of similar items (e.g., ifconsumers think there is nodifference, then there is a problem)

5. Price considering cost ofmaking it yourself


6 P i Diff ti l



• Scenario A: You are a purchasing agent for a large organization. You haveordered for your own use a new electric typewriter with special features, which will cost£ 1,000. A friend discovers that the identical typewriter isavailable from another vendor for £ 600. Would you cancel the currentorder and switch to the other vendor? (Assume that canceling the current

order and initiating a new one will take one of the purchasing clerks who works for you about one-half day. Assume that there are no other costssuch as a loss of good will or delay in delivery.)

Would you cancel the current order and switch to the other vendor?

Yes _______ No _________

6. Price Differentials




• Scenario B: You are a purchasing agent for a large organization. You haveordered a new word processor with special features, which will cost £20,000. Your purchasing department discovers that the identical wordprocessor is available from another vendor for £ 19,600. Would youcancel the current order and switch to the other vendor? (Assume thatcanceling the current order and initiating a new one will take one of thepurchasing clerks who works for you about one-half day. Assume thatthere are no other costs such as a loss of good will or delay in delivery.)

Would you cancel the current order and switch to the other vendor?

Yes _______ No _________




• Scenario A the difference is 40%, whereas inScenario B the difference is 2%, even though theabsolute difference in both is £ 400

• Implications – the perception of a price change depends on the

percentage, not on the absolute difference – there is a threshold above and below a product s price at

which price changes are ignored




• When quoting rates, quote price differencesinstead of whole rate; e.g., $320 versus $290.For $30 less get….


7 Framing Price Differences



7. Framing Price Differences

• Look at the two pairs of prices below and quicklyanswer the question: For which pair of prices is thelower price more of a bargain?

Higher Price Lower PriceFirst Pair $0.89 $0.75Second Pair $0.93 $0.79

Your answer _____




• Perceptions of Odd Price Endings – Buyers use left most digits in a price and round up to

form a quick reference point to evaluate the actual priceagainst.

– Previous example: second pair seems to have betterdiscount.(first pair: 8-7 = 1; second pair 9-7 = 2; if figure same infirst column, then look at second column)

In reality, difference is a greater percentage of the price inthe first pair (18.6% vs. 17.7%)




Objective of this section

• Understand steps to better pricing• Understand Competitive Value Analysis

• Review basics of revenue management• Understand price customization• Understand Value

122630150 Revenue Management and Pricing

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Transcript of 122630150 Revenue Management and Pricing