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The Theory and Practice of Revenue Management
It unifies the field, drawing from industry sources as well as relevant research from disparate disciplines, as well as documenting industry practices and implementation details.Successful hardcover version published in April 2004
The Spread of Yield Management Practices : The Need for Systematic Approaches
Yield Management, an effective technique for the optimisation of revenue, used to be the exclusive prerogative of large companies such as airlines. Today, it is also accessible to entrepreneurs in the hospitality, distribution and restaurant sectors. This book offers insights into the creation and implementation of a yield management system for such businesses and solutions to the organisational and managerial problems that its application entails. It is written by tourism researchers, entrepreneurs and tourism consultants as well as experts from software houses who have designed operational tools for a successful yield management.
The pricing model revolution : How pricing will change the way we sell and buy on and offline
In The Pricing Model Revolution: How Pricing Will Change the Way We Sell and Buy On and Offline, world renowned pricing expert Danilo Zatta delivers an essential and engaging blueprint to building an enduring competitive advantage with insightful pricing models. In the book, you’ll learn to identify the best monetization approaches for your products and how to execute the one that makes the most sense for your business.
Telecommunications Planning : Innovations in Pricing, Network Design and Management
Focuses on the latest methodological developments in three key areas---pricing of telecommunications services, network design, and resource allocation. These three elements are most relevant to current telecommunications planning. The first five chapters cover global deregulation of the telecommunications industry, effective pricing and revenue management, as well as an understanding of competitive pressures are key factors that will improve revenue in telecommunications companies. These chapters present some novel ideas related to pricing (including auction-based pricing of network bandwidth) and modeling competition in the industry. The next seven chapters outline what successful telecommunications companies of the future will need to do in order to minimize their costs and still meet customer expectations. In this context the optimal design/provisioning of telecommunication networks plays an important role. These chapters focus on network design for a wide range of technologies including SONET, SDH, WDM, and MPLS. They include the latest research developments related to the modeling and solving of network design problems. The final six chapters provide insightful solutions to several resource allocation problems. Day-to-day management/control of telecommunications networks is dependant upon the optimal allocation of resources.
Risk-Averse Capacity Control in Revenue Management
“If necessity is the mother of invention, then deregulation is the father, and r- enue management (also known as yield management) is the couple’s golden child – at least as far as operations research is concerned.” (Horner, 2000, p. 47) Deregulation had a signi?cant impact on the U.S. airline industry in the late 1970s. Charter and low-cost airlines such as People Express and Southwest wereabletoo?erseatsatafractionofthepricechargedbyestablishedcarriers like Pan Am and American Airlines. Due to their di?erent cost structure, it seemed to be impossible for the big carriers to o?er tickets at the same low price. Yet they had to ?nd a way to compete. Robert L. Crandall from American Airlines is widely credited with the - lution to the problem:yield management – today calledrevenue management, since it maximizes revenue earned on a ?ight rather than yield (revenue per passenger mile).
Revenue Management with Flexible Products : Models and Methods for the Broadcasting Industry
Remarkable features of revenue management (RM) problems in the cargo, manufacturing and broadcasting industries are so-called flexible products. "Flexibility" means that the actual mode of production is not defined at the time of purchase, but can be chosen later on by the service provider. This book is among the first to analyze RM problems with flexible products and RM in broadcasting companies. The implications of flexibility are explicitly taken into account in the models and methods presented. As an aside, the book contains descriptions of algorithms to generate stochastic demand data streams for general RM problems. An implementation as a Microsoft Windows executable file is available, which can directly be used both by theoreticians and practitioners in their own simulation studies.
Revenue Management and Survival Analysis in the Automobile Industry
André Jerenz develops a price-based revenue management framework to support retailers in establishing better and more profitable pricing strategies, including assigning an initial asking price and the adjustment of price over time. For the profit maximization problem of a used car retailer, the author derives different algorithms for determining optimal strategies by applying stochastic control theory. Within the scope of the demand forecasting component, he proposes the adoption of survival analysis for estimating individual price response functions, modeled by parametric and semi-parametric survival functions. Thus, the effects of variables such as the asking price are taken into account. The evaluation of data from a case study in the German used car market reveals a significant potential for an increase in profitability and confirms the proposed price-based revenue management concept.
Integrated Capacity and Price Control in Revenue Management : A Fuzzy System Approach
Due to tough competition and increased customer-orientation, companies must improve their management of revenue objectives. In the context of a fluctuating demand and the unknown price behaviour of customers, the practice-oriented development of a revenue management approach for an integrated control of capacities and prices becomes essential. Michael Becher develops a concept for an integrated capacity and price control in revenue management. His concept is based on fuzzy expert controllers and complies with the defined business and application requirements. The resulting approach is evaluated in three applications: capacity control in waste incineration industry, price control in hotels and integrated capacity and price control in goods distribution. The results show that the amount of coverage can be increased due to the application of the proposed concept.
Capacity options for revenue management : Theory and applications in the air cargo industry
Hellermann addresses in his dissertation one of the most interesting - pects of this evolution for OR/MS, the parallel development of long-term and short-term markets for capacity and output, accompanied by a range of option and ?xed-commitment (i. e. , forward) contracts as the basic mec- nisms supporting transactions. This has been a fascinating topic for OR/MS research because it builds on the powerful framework of real options, while connecting directly to key operations decisions (capacity planning, network design, staf?ng, routing, maintenance, and so forth) of the equipment and technologies whose output is the focus of contracts.
