Today's Revenue Management thought:-
What Happens to Pricing When Demand Falls ?
We need to think about managing pricing strategies as we deal with high inflation and brace for the possibility of a recession.
Keeping the below in mind will help you navigate difficult economic conditions.
Plan for all scenarios
Know your KPI’s backwards and forward
Ensure pricing transparency
Increase your pricing agility
Understand your customer segments and know your properties value
Take a surgical approach to price increases
Have a profitable week.
✌🏼