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.”
Facilitators
James Henry
James Henry comes from an engineering background and has extensive international business experience. Having been involved in many industries from design through to marketing, his teaching and research interests in business-to-business marketing, channel management, logistics and pricing reflect this experience. His PhD was in the area of price management.
James is actively involved with the business community in a number of roles. Firstly as a consultant in the areas of Business to Business Marketing and Strategy. Secondly as an advisor and mentor for industry support projects such as Business in the Community and Business Grow. He lectures in pricing and distribution, and product and brand management.
James Henry is also facilitating:
Andrew Pascoe
Andrew Pascoe has senior level experience in Revenue Management and is currently owner/director of PriceTech Solutions. He was previously Revenue Manager for AirNZ- Freedom Air and has designed and built revenue management systems and programmes at Interislander. He has chaired and presented at pre-conferences and some of his clients include Rugby World Cup 2011, Jucy Rentals and several other clients in retail, sports, accommodation industry.
Andrew Pascoe is also facilitating:
In-house Training
Sorry, this event currently has no dates scheduled.
