What is Revenue Management?

Revenue Management is a way of doing business that means every perishable product like guestroom, restaurant cover and other facilities focuses on what they need to do to drive the total profitability of the organization. It is “To sell the right product to the right customer at the right time for the right price.” Revenue Managers are very much in demand these days. Are you looking to do this program?

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Vedatya Institute

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Revenue Management is the application of disciplined analytics that predict consumer behavior at the micro-market level and optimize product availability and price to maximize revenue growth. The primary aim of Revenue Management is selling the right product to the right customer at the right time for the right price and with the right pack. The essence of this discipline is in understanding customers' perception of product value and accurately aligning product prices, placement and availability with each customer segment.

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Revenue management (RM) helps to predict consumer demand to optimize inventory and price availability in order to maximize revenue growth. Revenue Management is not only maximizing in high period demand, it helps stimulating demand in low periods while avoiding pricing cannibalism. Revenue Management is long term strategic, takes all revenue with their profitability into consideration, can sell low rates even in high demand period

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Vaikunth Mehta National Institute of Cooperative Management

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It is best management specialzition in new era. all daily business activity is related this .

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