Search results
Results From The WOW.Com Content Network
Revenue management uses data-driven tactics and strategy to answer these questions in order to increase revenue. [1] The discipline of revenue management (RM) is also known as also known as Yield Management (YM), and is a cross-disciplinary field.
Dynamic pricing, also referred to as surge pricing, demand pricing, or time-based pricing, and variable pricing, is a revenue management pricing strategy in which businesses set flexible prices for products or services based on current market demands. It usually entails raising prices during periods of peak demand and lowering prices during ...
Yield management (YM) [4] has become part of mainstream business theory and practice over the last fifteen to twenty years. Whether an emerging discipline or a new management science (it has been called both), yield management is a set of yield maximization strategies and tactics to improve the profitability of certain businesses.
Bankrate insight. If your total product revenue is $50 and the total production costs are $35, your gross profit would be $15. To find the gross profit margin, you’d do the following calculation ...
A chief revenue officer (CRO) is a corporate officer responsible for all revenue generation processes in an organization. In this role, a CRO is accountable for driving better integration and alignment between all revenue-related functions, including marketing , sales , customer support , pricing , and revenue management .
This strategy of yield management is commonly used by the firms associated within the airlines industry. For example, a customer may purchase an airline ticket in the day time for $600 and another customer may purchase the same airline ticket on the same day in the evening for $800 – the reason being that during the day time the airline ...
Financial management is sometimes referred to as "Strategic Financial Management" to give it an increased frame of reference. To understand what strategic financial management is about, we must first understand what is meant by the term "Strategic". Which is something that is done as part of a plan that is meant to achieve a particular purpose.
The strategies to grow their top-line revenue are unique, as NPOs rely on external bodies to fund their operations. [19] Business-relationship management and marketing are strategies commonly used by NPOs to achieve these goals.