Today's Revenue Management thought:-

One of the cleverest tricks to boost sales is to create the perception of scarcity.

Have a profitable week.

✌🏼

Today's Revenue Management thought:-

Setting your prices need not be black or white.

By using a combination of pricing strategies you can achieve better results.

A number of factors will determine the right pricing strategy for you. Including the state of the industry, demand, the size of your business, your business plan, strategy and goals.

Evaluate your business as a whole and then determine the best strategy or combination of methods that work for you.

Have a profitable week.

✌🏼

Today's Revenue Management thought:-

The pursuit of profit is both a driver of excellent pricing and an outcome of it - there is no way to separate the two topics.

Profit is ultimately the only valid metric for guiding your company.

The rationale is simple: profit is the only metric which takes both the revenue side and the cost side of a business into account.

Have a profitable week.

✌🏼

Today's Revenue Management thought:-

Price is the only marketing instrument you can employ with no upfront investment.

This makes it an especially powerful marketing tool for small business or start-ups with tight financial resources.

Have a profitable week.

✌🏼

Today's Revenue Management thought:-

Every business has only three profit drivers:

• Price

• Volume

• Cost

Have a profitable week.

✌🏼

Today's Revenue Management thought:-

Without Revenue Management strategies / systems - Pricing is guesswork.

How do hoteliers without a Revenue Management team / systems determine the price of their products.

In almost every case, the process of decision is one of guesswork.

Have a profitable week.

✌🏼

Today's Revenue Management thought:-

Pricing is always a reflection of how people divide up value.

Have a profitable week.

✌🏼

Today's Revenue Management thought:-

The is a wonderful saying:-

In every market there are two kinds of fools:-

One charges too much,

the other charges too little.


Have a profitable week.

✌🏼

Today's Revenue Management thought:-

Life’s a journey, as is your revenue strategy.

Make it dynamic and flexible, yet maintain clear goals for what you want to achieve.

Have a profitable week.

✌🏼

Today's Revenue Management thought:-

Something happens, you pay attention to your thoughts and feelings about it, and then ask yourself "Hmmm, is there something I could do about this?"

If so, start your experiment right away.

What simple experiment can you do that will give you useful raw data ?

Limit the time to 2-3 weeks….. and then see what you learned.

Don't wait!

Hunches are telling you to get moving now!

If not, let it go.

Have a profitable week.

✌🏼