Corporate Training
Blue Ocean offers a wide array of bespoke corporate training solutions for organizations to enable their employees to become specialists in their industry. We offer over 600+ corporate training programs catering to a wide range of industries across government, semi-government and private organizations. The courses are designed to deliver strategic insights and learning for building high potential teams that can drive actionable strategies for their organizations. Our corporate programs are flexible and can be tailored to suit customers’ specific needs, helping teams unleash their maximum potential for organizational benefits.
Revenue Management and Pricing Strategy
Course Objectives
By the end of the course, participants will be able to:
- Gain insight into revenue management principles.
- Apply different forecasting methods to drive future demand.
- Develop the right pricing strategy and relevant measures.
- Optimize the use of existing inventory through proper allocation and capacity control.
- Discuss the key trends in revenue management for different businesses.
Course Outline
What is revenue management (RM)?
- Definition and a brief history
- Objectives, principles, and elements of RM
- Necessary conditions for revenue management
- Revenue management vs. yield management
- The importance of revenue management
- RM terms and performance indicators
Pricing strategies
- Introduction to pricing strategies
- Business foundations for successful pricing strategies
- Pricing – perspectives from different industries
- Value-Based Pricing
- Types of pricing strategies
- Key KPIs behind pricing strategies
- Common mistakes in pricing
RM and Forecasting
- The economics of revenue management
- Demand management
- Unconstrained demand vs. constrained demand
- All about forecasting
- What is forecasting?
- Why is forecasting so important?
- Booking curve and pickup forecasting
- Forecasting methods
- Error measurement
- Useful forecasting tips
- Overbooking
- A quick introduction
- Policies concerning overbooking
Inventory allocation and capacity control
- The basics of inventory allocation
- Expected marginal revenue
- Nested reservation system
- Protected level vs. booking limit
- Group management
Implementation of revenue management systems
- How can a revenue management system help
- Features of a revenue management system
- Revenue management and data sources, analytics, and visualization
Course Objectives
By the end of the course, participants will be able to:
- Gain insight into revenue management principles.
- Apply different forecasting methods to drive future demand.
- Develop the right pricing strategy and relevant measures.
- Optimize the use of existing inventory through proper allocation and capacity control.
- Discuss the key trends in revenue management for different businesses.
Course Outline
What is revenue management (RM)?
- Definition and a brief history
- Objectives, principles, and elements of RM
- Necessary conditions for revenue management
- Revenue management vs. yield management
- The importance of revenue management
- RM terms and performance indicators
Pricing strategies
- Introduction to pricing strategies
- Business foundations for successful pricing strategies
- Pricing – perspectives from different industries
- Value-Based Pricing
- Types of pricing strategies
- Key KPIs behind pricing strategies
- Common mistakes in pricing
RM and Forecasting
- The economics of revenue management
- Demand management
- Unconstrained demand vs. constrained demand
- All about forecasting
- What is forecasting?
- Why is forecasting so important?
- Booking curve and pickup forecasting
- Forecasting methods
- Error measurement
- Useful forecasting tips
- Overbooking
- A quick introduction
- Policies concerning overbooking
Inventory allocation and capacity control
- The basics of inventory allocation
- Expected marginal revenue
- Nested reservation system
- Protected level vs. booking limit
- Group management
Implementation of revenue management systems
- How can a revenue management system help
- Features of a revenue management system
- Revenue management and data sources, analytics, and visualization