Ecole Nationale de l’Aviation Civile (ENAC)
Futurelearn
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assignment Level : Introductive
chat_bubble_outline Language : English
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Users' reviews
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4 reviews

Key information

credit_card Free access
verified_user Fee-based Certificate
timer 16 hours in total

About the content

Learn to use pricing strategies to increase your firm’s revenue, and set the right price for the right person at the right time.

This free online course will open the black box of revenue management – the widespread pricing strategy that the travel, leisure and other industries use to generate additional revenue, by setting prices according to people’s preferences and willingness to pay.

You will explore the methods at the core of many revenue management systems, discovering the answers to questions such as:

  • Do all customers have the same sensitivity to price?
  • How can a firm use its knowledge on demand, to charge different people different prices for the same product?
  • Why do the prices vary over time?
  • How can a firm slightly differentiate its product in order to charge widely different prices to different people?
  • How can you define the right set of prices to increase the firm’s profit?
  • What is the outcome for the individual consumer? And for consumers as a whole?
  • Step into a pricer’s shoes and set your own pricing strategy

Throughout the course you will practice what you learn through practical pricing problems, pricing simulation games and interactive case studies. For example, you will step into the shoes of a pricer and set an airline’s pricing strategy over a period of time.

By the end of the course, you will be able to:

  • Demonstrate your knowledge and understanding of pricing strategies;
  • Compare and evaluate different pricing schemes in different sectors of industry;
  • Design a pricing framework in a real-life revenue optimisation situation;
  • Implement revenue management in your business, and experiment with price setting and capacity allocation.

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Syllabus

Topics covered :

  • Basic economic concepts : supply and demand, consumer welfare, demand elasticity
  • Economic foundations of Price discrimination
  • The three types of price discrimination and product differentiation
  • Pricing under uncertainty
  • EMSR (Expected Marginal Seat Revenue)
  • Risk analysis, overbooking
  • Dynamic pricing strategies in various competitive environments
  • History of revenue management
  • Features of revenue management techniques
  • Strategic decisions in revenue management
  • Implementation of revenue management techniques in various businesses

What will you achieve?

  • Demonstrate knowledge and understanding of the economic concepts of efficient pricing
  • Implement price discrimination in any applicable business
  • Apply strategic pricing and quota allocation in an environment of limited competition
  • Manage pricing schemes under uncertainty
  • Design a framework of price discrimination and revenue management

Who is the course for?

This course is designed for professionals who want to adopt pricing strategy and revenue management techniques in their organisation. You could be working in an industry where this practice is already common – such as at a travel, rental, catering or leisure business – or in a sector where it is emerging – such as at a mobile app developer or an e-commerce retailer.

The course is open to anyone, so may also interest consumers who are keen to understand why prices vary and how revenue management – which gives discounts to many and high prices to a few – works in many areas of their everyday’s life.

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Intructors

Christophe Bontemps
Christophe Bontemps is a faculty member of the Toulouse School of Economics and professor at ENAC. He holds a PhD in applied mathematics and a Master in computer science.

Nathalie Lenoir
Nathalie Lenoir is a researcher and professor at ENAC. She has been teaching revenue management for more than 15 years. She holds a Master in transportation and a PhD in economics.

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Content designer

The École nationale de l'aviation civile or ENAC is one of 210 French engineering schools authorized to issue an engineering degree.

Founded August 28, 1949, its mission is to provide the initial training and development of managers and key players in civil aviation.

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Platform

FutureLearn is a massive open online course (MOOC) learning platform founded in December 2012.

It is a company launched and wholly owned by The Open University in Milton Keynes, England. It is the first UK-led massive open online course learning platform, and as of March 2015 included 54 UK and international University partners and unlike similar platforms includes four non-university partners: the British Museum, the British Council, the British Library and the National Film and Television School.

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Best review

I learned a lot with this class, it help me have a view on the RM. Everything was well explained by the teacher, also the expert intervenants were very clear with their explanation. Thank you again.

Published on April 25, 2018
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on the April 25, 2018
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I learned a lot with this class, it help me have a view on the RM. Everything was well explained by the teacher, also the expert intervenants were very clear with their explanation. Thank you again.

Cecilia von Siebenthal,
on the April 22, 2018
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Great content and form, backed by active teachers, interesting interviews and fun games. Would recommend this to anybody beginning to think of pricing strategies.

Yaiza Renero,
on the April 9, 2018
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Really great course, with great educators and very good interviews that made the course more smooth and interesting to learn! Waiting you will make more courses like this one :D

Lucas J.R.,
on the December 1, 2017
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Excellent pedagogy on a very important topic. The variety of supports (games, cartoons, videos) and the comments/responses by others (and teachers) was a plus!