The practices of revenue management and pricing analytics have transformed the transportation and hospitality industries, and are increasingly important in industries as diverse as retail, telecommunications, banking, health care and manufacturing. Segmentation, Revenue Management and Pricing Analytics guides students and professionals on how to identify and exploit revenue management and pricing opportunities in different business contexts. Bodea and Ferguson introduce concepts and quantitative methods for improving profit through capacity allocation and pricing. Whereas most marketing textbooks cover more traditional, qualitative methods for determining customer segments and prices, this book uses historical sales data with mathematical optimization to make those decisions. With hands-on practice and a fundamental understanding of some of the most common analytical models, readers will be able to make smarter business decisions and higher profits. This book will be a useful and enlightening read for MBA students in pricing and revenue management, marketing, and service operations.Thus a hotel that normally charged $300 per night would lower the rack rate to $150 per night. ... Thus if a customer beganto value a particular hotel room at $150, then an increase in the price to $300 is perceived to be unfair. ... Thus ifthey enter a particular store for the firsttime and notice thatthestore prices agallon ofmilk significantly higherthan what they are ... As an example, a major hotel chain implementeda price optimization softwarethat uses, asa referenceprice inthe model, theanbsp;...
|Title||:||Segmentation, Revenue Management and Pricing Analytics|
|Author||:||Tudor Bodea, Mark Ferguson|
|Publisher||:||Routledge - 2014-03-21|