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Indian Institute of Management Indore

Pricing and Revenue Management

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Description

Businesses face the challenge of selling the “right product” to the “right customer” at the “right time” for the “right price”. Revenue management (RM) is the application of disciplined analytics that predict consumer behaviour at the micro-market levels and optimize product availability and price to maximize revenue.

The conventional wisdom was to create and sell a single product to all customers at an optimal price. With RM, instead of mass market, the focus is on micro-market, i.e. understanding different customer segments and their price sensitivity. This ensures that the products, prices, and sales channel are aligned with each customer segment.

Objectives

This programme helps participants to develop a holistic view of products, customer segments, channels and prices by analysing customer segments and each segment’s perceived value of the products. The programme has following objectives:

  • Explore key RM concepts
  • Examine the levers available to increase revenue
  • Analyse the contemporary RM techniques and their implications

Content

The programme will cover the following topics:

  • Traditional Approaches to Pricing vis-a-vis RM strategy
  • Product design, bundling and demand segmentation
  • Demand unconstraining and forecasting
  • Pricing with supply constraints
  • Dynamic pricing
  • Overbooking decisions
  • Markdown Management
  • Customized pricing
  • Revenue management across the whole network
  • Pricing and revenue optimization and customer acceptance

Who should attend

The programme is ideally suited for executives working in any of the following industry:

  • Transportation (Air, ocean, rail, road, car rentals etc.)
  • Hospitality (hotels, cruises, ferries, casinos etc)
  • Media (advertisement)
  • Retail (apparel, consumer goods)
  • Health care (hospitals)
  • Manufacturing (made-to-order manufacturing)
  • Finance (financial products)

Experts

Amit completed his fellowship in 2015 from IIM Ahmedabad with specialization in production & quantitative methods. He has done PGDM from IIM Lucknow, and B.Tech in chemical engineering from IIT Kharagpur. His research interest is broadly in the area of Facility Location Problems as they arise...
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