How does the difference in prices affect RM effectiveness

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Reference no: EM132179656

1. What are the key risks that an RM (revenue management) approach attempts to manage, and which ones it does not?

2. Under what type of demand conditions is RM most effective? How do you expect demand variability to affect RM practice and results?

3. How does the difference in prices affect RM effectiveness? Consider implications on (1) segmentation strategies, and (2) industries that would most benefit from RM.

4. Think of other applications of thsi simple RM framework. Describe why it is applicable and how you would segment the market. How can you estimate the impact on profits?

5. Suggest several directions for improving this simple model to better account for the complex reality for the business (airline or other). What new information/data would be necessary?

Reference no: EM132179656

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