In today’s cutting-edge, digital marketplace where disruption is only a popular app away, there are many ways to implement pricing strategies that appeal to customers’ willingness to pay while maximizing a company’s profitability.
Here at the Revenue Management Labs offices, we got to talking about these holiday promotions and how effective they actually are. Let’s take a look inside how trade promotions work. There are basically two schools of thought on this issue.
Price increases should be used as a tool to grow your revenue. However, sometimes, for several different reasons, they just don't stick. Below we look at the five most common ways price increases fail and how your business can mitigate that failure for greater profitability.
Yield Management, and its broader parent Revenue Management, are critical pieces to the financial success of any healthy organization. However, despite their importance, they remain widely unknown or misunderstood.