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Fencing in the Practice of Revenue Management

In: Revenue Management

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  • Michael Zhang

Abstract

Market segmentation, as a key strategic element in the practice of Revenue Management, will generally increase revenues and profits but the price difference between the markets segments will motivate some customers to try to switch segments. For example, a customer might visit a retail store to “touch and feel” a product but then goes home and buys it online at a lower price. Once a market segmentation structure has been put in place, firms use various conditions and restrictions to maintain separation of the price categories. Devices such as less information, prolonged purchase processes and advanced purchase and refund penalties “fence” customers into different market segments and make it difficult or time consuming for the customer to migrate from one market segment to another.

Suggested Citation

  • Michael Zhang, 2011. "Fencing in the Practice of Revenue Management," Palgrave Macmillan Books, in: Ian Yeoman & Una McMahon-Beattie (ed.), Revenue Management, chapter 10, pages 136-149, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-29477-6_11
    DOI: 10.1057/9780230294776_11
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    Cited by:

    1. Claudia Olimpia MOISÄ‚ & Lucian STANCIU-GORUN, 2019. "The Opportunity For The Introduction Of Prediction Models In Hotel Management Case Study Hotel Deva ***, Deva, Romania," Annales Universitatis Apulensis Series Oeconomica, Faculty of Sciences, "1 Decembrie 1918" University, Alba Iulia, vol. 1(21), pages 1-10.

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