Revenue Management

Revenue Management is the art and science of optimizing product price and its availability to maximize profitable revenue and its growth. In essence, revenue management deals with analysing customer need and perception of product value to adjust and align prices, placement and packaging of products.

 
  • Introduction
  • Industries
  • Benefits
  • Solution

Introduction

Revenue Management is the art and science of optimizing product price and its availability to maximize profitable revenue and its growth. In essence, revenue management deals with analysing customer need and perception of product value to adjust and align prices, placement and packaging of products.

Revenue Management starts with Revenue Analytics. In this step, the past data is analysed to gain insight into the customer behaviour; this insight combined with pricing optimization models form the basis for Revenue Management.

The first step towards Revenue management is data collection. The data requirement includes historical data on inventory, prices, demand, and other factors, which might affect the revenue. The next step is market segmentation. Segmentation is the key to market based pricing, which can lead to revenue maximization.

Forecasting is important step in revenue management. Accurate forecasting of demand, inventory, market share, and total market are essential.

Next step is optimization, which suggests how the firm should respond to the forecasted data. This step will answer what should be the optimal pricing for various customer segments.

Industries

Following are a few sectors that will be benefitted by our solution:

  • Hospitality - Hotel
  • Cargo, Freight and Travel - Airlines, Rental Cars
  • Entertainment & Leisure - cruise lines
  • Media - Radio / television advertisement sales

Benefits

  • Increase revenue by up to 5% annually
  • Gain visibility into the customer behaviour and demand pattern
  • Bring agility to the planning process and respond to change in market conditions quickly
  • Automate and Streamline the pricing processes complex pricing processes

Solution

Please contact us directly for further details.

Mail Id: This email address is being protected from spambots. You need JavaScript enabled to view it.

Phone: +91 44 4501 8472 or +91 98406 18472

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