• Concepts and Insights
• 23 min
  1. What will consumers pay more for? Luxury markets and premium pricing

  • Dr. Ian Yeoman
• 61 min
  2. How do consumers perceive value and price: understanding value-based pricing

  • Prof. Irene Ng
• 42 min
  3. Does the consumer trust you?

  • Ms. Una McMahon-Beattie
• 29 min
  4. Search-based advertising and revenue management

  • Dr. Özgür Özlük
• 24 min
  5. Low cost worlds and the airline industry

  • Dr. Laurie Garrow
  • Ms. Stacey Mumbower
• 51 min
  6. Pricing and revenue optimization: maximizing staff effectiveness

  • Dr. Warren Lieberman
• 28 min
  7. Fencing in the practice of revenue management

  • Dr. Michael Zhang
• 42 min
  8. Revenue management and air cargo

  • Ms. Gina Morello
• 28 min
  9. Era of convergence in revenue management

  • Mr. Ramesh Venkat
• 18 min
  10. Online travel data: A goldmine of new opportunities

  • Dr. Laurie Garrow
  • Ms. Brittany Luken
• 52 min
  11. Global distribution capabilities, origin destination control and dynamic pricing

  • Dr. Karl Isler
• How Pricing and Revenue Management Works
• 40 min
  12. Practical pricing for the hotel industry

  • Dr. Warren Lieberman
• 48 min
  13. Practical pricing and the airline industry

  • Dr. Stefan Poelt
• 59 min
  14. Setting optimal rents for apartment firms

  • Dr. Jian Wang
• 25 min
  15. Practical pricing and the restaurant industry

  • Prof. Sunmee Choi
• 57 min
  16. Forecasting and control

  • Prof. Robert Raeside
• 27 min
  17. B2B price optimization analytics

  • Dr. Jon Higbie
• 45 min
  18. Practical pricing and the car park

  • Dr. José Guadix

Printable Handouts

PDF

Navigable Slide Index

1. Introduction
2. Definition of pricing and revenue management
3. Preconditions for revenue management (RM)
4. Pricing and RM fit demand to capacity
5. Pricing, RM, and scheduling optimise revenues
6. Airline market segmentation
7. Additional revenue by price discrimination
8. The airline distribution process
9. Revenue management - a three step process
10. Basics on airline demand forecasting
11. Input data for demand forecasting
12. Unconstraining - from bookings to demand
13. PNR based no-show forecasting
14. The revenue management dilemma
15. Layout of a revenue management system
16. Assumptions of RM optimisation methods
17. Littlewood's rule
18. EMSR - a leg optimisation heuristic
19. Comparison of leg optimisation methods
20. Heuristics versus "optimum" solutions
21. Dynamic pricing (DP)
22. O&Ds, itineraries, and legs?
23. What about O&D revenue management?
24. Drawbacks of leg control
25. Step-wise upgrade from leg to O&D
26. Data flow of O&D bid price control
27. O&D forecasting and aggregation
28. Overbooking - motivation
29. Deterministic and probabilistic overbooking
30. Performance measurement
31. The revenue opportunity model (ROM)
32. "Spiral-down" by removing fare restrictions
33. Enhancing the forecaster
34. Pricing is less researched than RM
35. Pricing versus revenue management
36. The airline pricing process
37. RM developments - relaxing assumptions
38. References

Topics Covered

• Introduction and basics of pricing and revenue management
• Demand and no-show forecasting
• Evolutions of optimization methods from static optimization (EMSR) over dynamic optimization to network optimization
• Practical aspects of forecasting and optimization
• Overbooking methods and performance measurement
• Recent and future revenue management developments
• The pricing process and interactions of pricing and revenue management

Links

Series:

• Practical Pricing and Revenue Management

Categories:

• Finance, Accounting & Economics
• Global Business Management

Talk Citation

Publication History

• Published on October 28, 2009