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Revenue management (RM) is a discipline to maximize profit by optimizing rate (ADR) and occupancy (Occ). In its day to day application the maximization of Revenue per Available Room (RevPAR) is paramount. It is seen by some as synonymous with yield management.
Reuven Bar-On is an Israeli psychologist and one of the leading pioneers, theorists and researchers in emotional intelligence. [1] Bar-On is thought to be the first to introduce the concept of an “EQ” (“Emotional Quotient”) to measure “emotional and social competence”, [2] [3] although the acronym was used earlier to describe ideas that were not associated with emotional ...
Example of psychological pricing at a gas station. Psychological pricing (also price ending or charm pricing) is a pricing and marketing strategy based on the theory that certain prices have a psychological impact.
Top-line growth is the increase in revenue or gross sales by a company over a defined period and is used to indicate the financial strength of a business and its potential for growth in the future. It is usually measured over periods of one-half or full years and is often reported as a percentage growth compared to the previous year or period.
Behavioral models typically integrate insights from psychology, neuroscience and microeconomic theory. [ 3 ] [ 4 ] Behavioral economics began as a distinct field of study in the 1970s and 1980s, but can be traced back to 18th-century economists, such as Adam Smith , who deliberated how the economic behavior of individuals could be influenced by ...
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[citation needed] In a sales job, a favorable outcome is a certain level of revenue generated through the sale of something (merchandise, or some service such as insurance). Revenue can be generated or not, depending on the behavior of employees. When the employee performs this sales job well, he is able to move more merchandise.
The response could be a binary variable (for example, a website visit) [1] or a continuous variable (for example, customer revenue). [2] Uplift modelling is a data mining technique that has been applied predominantly in the financial services, telecommunications and retail direct marketing industries to up-sell , cross-sell , churn and ...