![](/wp-content/uploads/amba.jpg"){kind=small}
Organizations face the challenge of selling the “right product” to the “right customer” at the “right time” for the “right price”. Revenue management (RM) techniques help in understanding that all customers are not similar, and some will be willing to pay extra for a suitable produced coupled with the desired service offering. RM predicts consumer behavior at the micro-market levels and optimizes product availability and price to maximize revenue.
The conventional wisdom till the late 20th century 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. RM practices ensure
This programme helps participants to develop a holistic view of products, customer segments, channels, and prices by analyzing customer segments and each segment’s perceived value of the products. The programme has the following objectives:
- Explore key RM concepts
- Examine to increase revenue
- Analyse the contemporary RM techniques and their implications
The programme will cover the following topics:
- Traditional Approaches to Pricing vis-à-vis RM strategy
- Customer segmentation and product offering
- Demand unconstraining and forecasting: Machine learning and other techniques
- Pricing with supply constraints
- Dynamic pricing
- Overbooking decisions
- Markdown Management
- Customized pricing
- Revenue management across the whole network
- Customer acceptance of RM practices: What can go wrong?
Management Development Programmes (MDP) Office
Indian Institute of Management Indore
Prabandh Shikhar, Rau-Pithampur Road
Indore 453556, Madhya Pradesh, INDIA
Email : mdp@iimidr.ac.in
Tel. : +91-731-2439750, 2439752, 2439753, 24397544
Fax : +91-731-2439800
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)
Rs. 40,474.00
GST, as applicable, will be additional
Prof. Amit Kumar Vatsa
Email: amitv@iimidr.ac.in
Phone: 0731-2439483