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Competitive Revenue Management

In: The Evolution of Yield Management in the Airline Industry

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  • Ben Vinod

    (Charter and Go)

Abstract

Competitive revenue management looks beyond leveraging historical data to forecase demand and set inventory controls. Prevailing competitive selling fares in the marketplace is a key input to determine how seat inventory should be managed. There are two alternate models for decision making with competitive revenue management. Overrides to existing inventory controls in real time is called dynamic availability. Dynamic pricing is a real time adjustment to the filed fare, based on prevailing market conditions and the selling fares in the market. The pros and cons of both approaches are reviewed.

Suggested Citation

  • Ben Vinod, 2021. "Competitive Revenue Management," Management for Professionals, in: The Evolution of Yield Management in the Airline Industry, edition 1, chapter 7, pages 271-277, Springer.
    • Handle: RePEc:spr:mgmchp:978-3-030-70424-7_7
    DOI: 10.1007/978-3-030-70424-7_7
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