Pricing and Revenue Management. (3-0) 3 Credit Hours

Catalog description

Revenue Management is about “providing the right product to the right customers at the right time at the right price.” The main goal of this course is to apply revenue management practices to appropriate industries successfully. Specifically, the course will provide tools to forecast customer demand successfully, identify pricing and revenue opportunities, understand the impact of constrained capacity, opportunity costs, customer response, demand uncertainty and market segmentation on pricing decisions, and accordingly formulate and solve pricing optimization problems for revenue maximization. The material covered in the course assumes a basic understanding of probability and probability distributions, some knowledge of spreadsheet modeling, and using Excel Solver or similar optimization tools to get a solution. This course has Differential Tuition.