About

COURSE OBJECTIVES
• Identify opportunities for dynamic pricing and revenue management
• Avoid and overcome common dynamic pricing mistakes

WHO SHOULD ATTEND:
Managers who are responsible for maximization of revenue e.g.
• Marketing Director
• Marketing Manager
• Chief Operating Officer
• Business Analyst
• Accountant
• Commercial Manager
• Business Manager
• Merchandising Manager
• Category Manager
• Key Account Manager
• Business Development Manager
• National Sales & Marketing Manager

Outline

Introduction to the Basics of Dynamic Pricing and Revenue Management
• Overview of the practice in NZ and overseas
• Benefits of dynamic pricing and revenue management
• Using dynamic pricing to
   - respond to demand
   - stimulate and create demand
   - reduce waste
   - turn over inventory quickly
• Why static pricing may not always be ideal

Demand Estimation and Pricing
• Models of consumer demand
• Willingness to pay
• Customised pricing
• Building models

Customised Pricing
• Price response curves
• Use of historical data
• Optimised price decisions
• Applications to various markets

Capacity Management
• Inventory management under uncertainty
• Book limitations
• Protection levels
• Revenue estimation
• The dynamic situation

Loyalty v.s. Profitability
• Long v’s short term profitability
• Coordination
• Customer retention

Implementation Challenges
• Technology
• Coordinating business processes across the organisation
• Organisational Behaviour
• Capacity management and demand uncertainty
• Managing risk
• Performance metrics
• Implementation and development
• Pricing in uncertain times
• Designing and controlling fences
• Upsetting customers
• Applying value based pricing
• Legislation

Participants will be provided with experiential application of theory to real-life practice demonstrated through a Revenue Management software by PriceTech. This software aims to increase revenue by matching the price, time, customer, and channel.

Bright*Star training is not associated with the promotion of the PriceTech software product in any way.  PriceTech has agreed to be involved with the Dynamic Pricing training programme to provide demonstrative learning in a real-life scenario to enhance participants understanding of dynamic pricing models and applications.”

Facilitator

In-house Training