Today's Revenue Management thought:-

You can reduce a price only when you charged enough to begin with.

Have a profitable week.

✌🏼

Today's Revenue Management thought:-

The most important aspect of pricing is “value.”

The price a customer is willing to pay, and therefore the price a company can achieve, is always a reflection of the perceived value of the product or service in the customer’s eyes.

Have a profitable week.

✌🏼

Today's Revenue Management thought:-

Price and value are one and the same.

Revenue Managers have three tasks:-

• Create Value

• Communicate Value

• Retain Value

Have a profitable week.

✌🏼

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.

✌🏼