The practices of revenue management and pricing analytics have transformed the transportation and hospitality industries, and are increasingly important in industries as diverse as retail, telecommunications, banking, health care and manufacturing. Segmentation, Revenue Management and Pricing Analytics guides students and professionals on how to identify and exploit revenue management and pricing opportunities in different business contexts.
Bodea and Ferguson introduce concepts and quantitative methods for improving profit through capacity allocation and pricing. Whereas most marketing textbooks cover more traditional, qualitative methods for determining customer segments and prices, this book uses historical sales data with mathematical optimization to make those decisions. With hands-on practice and a fundamental understanding of some of the most common analytical models, readers will be able to make smarter business decisions and higher profits.
This book will be a useful and enlightening read for MBA students in pricing and revenue management, marketing, and service operations.
Table of Contents
Preface 1. The Ideas Behind Customer Segmentation 2. Forecasting 3. Promotion Forecasting 4. Capacity-Based Revenue Management 5. Un-Constraining 6. The Practice of Pricing Analytics 7. Dynamic and Markdown Pricing 8. Pricing in Business-to-Business Environments 9. Customer Behavior Aspects of Pricing. Appendix A: Logistics Regression. Appendix B: Pricing Analytics Using R.
Tudor Bodea is a Revenue Optimization Manager in the Global Revenue Management and Systems Department at the InterContinental Hotels Group in Atlanta, USA.
Mark Ferguson is a Distinguished Business Foundation Fellow and Professor of Management Science at the University of South Carolina, USA.