Hoorcollege 1: Revenue management 1: the basis................................................................................3

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Inhoud Hoorcollege 1: Revenue management 1: the basis................................................................................3 1.1 Revenue Management.................................................................................................................3 1.2 Customer worth calculation.........................................................................................................4 Hoorcollege 2: Revenue management...................................................................................................5 2.1 Inventory management per channel & capacity management.....................................................5 2.2 New business models...................................................................................................................5 Hoorcollege 3: Revenuemanagement; forecasting and budgetting........................................................7 3.1 Types of forecasting......................................................................................................................7 3.2 What is unconstrained/constrained demand?.............................................................................7 3.3 Performance and how to improve business.................................................................................8 Hoorcollege 4: Revenuemanagement 2.................................................................................................9 4.1 Sheet.............................................................................................................................................9 4.2 Revenue management 3: forecasting and performance results.................................................11 4.3 Customer worth calculation........................................................................................................11 Hoorcollege 5: Chapters: 3, 4, 5, 8 (tentamen!!!).................................................................................12 5.1 Conditions for effective revenue management..........................................................................12 5.2 Cost based pricing VS. Value based pricing.................................................................................14 Hoorcollege 6: Distribution Management............................................................................................16 6.1 Distribution management...........................................................................................................16 6.2 G.D.S. = global distribution system.............................................................................................16 6.3 I.D.S. = internet distribution system...........................................................................................16 6.4 Revenue management in practice..............................................................................................17 6.5 Trends (tentamen!!)...................................................................................................................18 Hoorcollege 7 - Budgeting....................................................................................................................19 7.1 Strategic process revenue management....................................................................................19 7.2 Yield calendar.............................................................................................................................19 7.3 Forecasting.................................................................................................................................20 7.4 Demand forecast........................................................................................................................20 7.5 How to improve business results?..............................................................................................21 Oefenvragen tentamen (zonder antwoorden).....................................................................................21 2 / 3

Hoorcollege 1: Revenue management 1: the basis

Conditions for revenue management:

-perishable products/service -high fixed costs -low variable costs -limited and fixed inventory -time criterial -highly segmented Selling….

At the right price:

-price elasticity: how much does price influence the demand?

-cost and value based pricing -set various prices for various segments -customer centric approach: place customers in the middle. Focus on their needs&wants

The right product:

-segmenting should lead to differentiating

-implementing price conditions: price fencing

-price fencing is neccessary to prevent customers from buying the cheaper product

At the right time:

-displacement analysis:

• which customer will you except when one room left? Could you have made more

revenue by accepting different guests? What is the optimal business mix?-forecasting

-supply and demand: when do we offer what price & product?

To the right customer:

-segmenting -optimal business mix

In the right place:

-Inventory management, PUP 1.1 Revenue Management

Questions from sheet:

1.What elements should an organisation look at to determine a price? What tools exist to deterime a ‘right’ price?

Elements: cost/value based pricing, competition, forecasting

Tools: bench marking, swot analysis

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