Revenue Management Foundation

Revenue management process, How to determine your profit margin, Revenue management KPIS etc.

What you’ll learn
Levers of revenue management
Revenue management process
How to determine your profit matgin
Most important key performance indicators in revenue management
The foundation of good revenue management

Requirements
Desire to learn more about revenue maagemet
No special requirement

Description
Revenue management is the strategic process of optimizing the revenue generated by a company through the pricing and distribution of its products or services. Revenue management aims to maximize revenue by generating higher prices from more profitable customers while simultanously minimizing costs and maximizing cacacity utilization. Revenue management is an essential concept in several industries because it is a critical factor in profitability. A few industries where revenue management is common include: airlines, hotels, restaurants, tourism businesses etc. These kinds of businesss use revenue mangement because they typically have perishable inventory. This means that if they do not sell a product or service today, they cannot sell it tomorrow. It also means that they cannot sell too much of a product or service, or they will overbook and have to offer discouts to customers.    Traditionally, businesses have focused on maximizing their profits by selling as much of their products or service offering as possible. but in today’s increasing competitive market, companies must focus on generating optimal prices from more profitable customers. Pricing optimization is a technique used to identify the optimal price point for a product or service. It considers various factors, including customer demand, competitor prices, production cost, and price elasticity.

Who this course is for
Accountants, bookkeepers, surpervisors, managers, director, CEO, students, companies, government, businessmen, everybody etc.