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This paper takes an interdisciplinary approach towards revenue management, incorporating economics and marketing concepts and proposing that firms employ a dynamic service differentiation so that consumer needs are met more closely. To locate market segments, the paper proposes that firms employ...
Persistent link: https://www.econbiz.de/10009440914
In today’s volatile markets, with consumer buying behavior evolving rapidly, rudimentary revenue management practices are no longer sufficient. Given the complexity of demand patterns in today’s markets, optimal demand management is achieved only with a totally holistic approach. This means...
Persistent link: https://www.econbiz.de/10009467806
In revenue management practice, the issue of perceived fairness is a serious concern, because revenue management applies different prices for basically the same service. The purpose of this study is to examine the effect of hotel revenue management pricing on customers’ perceptions of...
Persistent link: https://www.econbiz.de/10009467953
Revenue Management (RM) is an important tool for matching supply and demand by segmenting customers into different segments based on their willingness-to-pay and allocating scarce capacity to the different segments in a way that maximizes firm revenues. The benefits of RM are well accepted in...
Persistent link: https://www.econbiz.de/10009475781
-centric data which includes transaction and time of booking availability information is collected for five hotel properties located … that collecting customer-centric data from today s RM systems is a time-consuming task. In the environment in which the …
Persistent link: https://www.econbiz.de/10009475893
packages exclusively, the optimal time during the selling season for the organization to begin selling individual-event tickets …
Persistent link: https://www.econbiz.de/10009476054
time-to-event forecasts of cancellations on airlines' revenue streams. To determine the intensity of the cancellation … process, a discrete time proportional odds (DTPO) model with a prospective time scale was estimated for a sample of tickets … that the intensity of the cancellation process is strongly influenced both by the time from ticket purchase and the time …
Persistent link: https://www.econbiz.de/10009476095
For many products such as cars, electronic appliances and furniture, the price that a customer pays is negotiated from the posted price. In such transactions, negotiation plays an important role in determining whether a customer purchases, and if so, at what price. A retailer may adopt...
Persistent link: https://www.econbiz.de/10009476556
amount of initial inventory over a fixed time horizon without inventory replenishment. This class of dynamic pricing models … multiple products, each with a given initial inventory, over a fixed time horizon without inventory replenishment. This … product and multiple stores. Joint inventory allocation and pricing decisions have to be made over time subject to a set of …
Persistent link: https://www.econbiz.de/10009450672
typical production/procurement lead time also enter into contractual agreements with suppliers. These contracts are in place … retailer's order quantity as well as the time to start selling in the secondary market. In our two essays on retail operations … introduce a time-based Poisson demand model. We define three di®erent types of contracts and investigate the effect of each of …
Persistent link: https://www.econbiz.de/10009450675