Revenue Management and Pricing Strategy Fundamentals - Virtual Learning

Course Objectives

Revenue Management and Pricing Strategy Fundamentals - Virtual Learning

Course Objectives

By the end of the course, participants will be able to:

  • Gain insight into revenue management principles.
  • Apply different forecasting methods to drive future demand.
  • Develop the right pricing strategy and relevant measures.
  • Optimize the use of existing inventory through proper allocation and capacity control.
  • Discuss the key trends in revenue management for different businesses.

Target Audience

This course is designed for marketing and sales department heads and managers (B to B and B to C), business professionals, business owners, entrepreneurs starting a business, and any professional with business experience wishing to update their skills and learn new revenue management and pricing techniques.

Target Competencies

  • Forecasting
  • Inventory management
  • Analytical thinking
  • Financial decision making
  • Strategic insight
  • Pricing strategies
  • Negotiation skills
  • Communication skills
  • Statistical analysis
  • Economic savviness
  • Margin analysis

Course Outline

  • 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
  • Pricing strategies
    • 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
  • 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 overbooking
  • 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

Per participant

USD 2,250

Fees + VAT as applicable

Tax Registration Number : 100239834300003

Discount Plans & Cancellations Policy