Using Pricing and Revenue Management in Practice

Having identified the market needs, it is crucial to gather accurate and complete data relating to products offered prices competition and, most important, cnstomer behavior. Information abont cnstomer behavior is a valuable asset that helps identify consumer preferences. Ultimately, a proper understanding of customer preferences and a quantification of the impact of various tactics on consumer behavior are at the core of successful revenue management 

Implement a forecasting process. The foundation of any revenue management system is the forecasting function. By forecasting, we do not mean obtaining an estimate that is 

Integrate supply planning with revenue management. Although the supply planning 

---