Manage Your Prices: an Introduction to Pricing Strategy and Revenue Management

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.