For courses in Introduction to Revenue Management.
The first of its kind, this book was written to address the emerging course in Hospitality focused on revenue management. Based on the authors' years of industry experience, this book includes a model for understanding the revenue management process and reveals four basic building blocks to revenue management success. With chapters dedicated to consumer behavior, economic principles, and strategic management, it outlines key processes and stages of revenue management planning. Four unique application chapters tailor concepts to specific segments of the industry and professional profiles help students learn about possibilities within the field.
1. An Introduction
2. A History
3. Customers' Knowledge and Consumer Behavior
4. Market Segmentation and Selection
5. Internal Assessment and Competitive Analysis
6. Economic Principles and Demand Forecasting
7. Reservations and Channels of Distribution
8. Dynamic Value-Based Pricing
9. Channel and Inventory Management
10. The Revenue Management Team
11. Strategic Management and Following the RevMAP
12. Tools, Tactics, and Resources
13. Legal and Ethical Issues and Potential Bumps in the Road
GLOSSARY
