Pricing

Journal of Revenue and Pricing Management Volume 2 flake 3 FUTURE OF REVENUE MANAGEMENT The future of set in services Stowe Shoemaker Received (in revised form): 2nd July, 2003 William F. Harrah College of Hotel Administration, University of Nevada, Las Vegas, 4505 Maryland Parkway, station Drop 6037, Las Vegas, NV 89154-6037, USA Tel: +1 702 895 1794; Fax: +1 702 895 1135; e-mail: stowe1202@aol.com Stowe Shoemaker is an associate professor at the William F. Harrah College of Hotel Administration at the University of Nevada, Las Vegas. He holds a PhD from Cornell University in the School of Hotel Administration, an MS from the University of mammy and a BS from the University of Vermont. Stowe also teaches strategic pricing and guest relationship management for Cornell Universitys Professional Development Program. Stowe is ` a visiting professor at Ecole Hoteliere de Lausanne for autumn 2003. way of thought well-nigh the history of pricing strategies â€" from one price for alone to the current practice of gross management and ?nally to the future of pricing â€" pass judgment pricing. Fourthly, the paper presents a way of thinking about value. Speci?cally, it shows that value is more than just the ?nancial elements of the service.

Finally, ways of changing the value perception in order to earn higher revenues atomic number 18 presented. This last section presents actual research showing that changes in the way prices are framed can increase revenue and loyalty. WHY LOYALTY IS IMPORTANT Noone et al. (2003) articulated in this journal why customer loyalty is important. Citing Reinartz and Kumar (2002), they state it is a astray held belief that loyal customers are an organisations close to profitable customers, that they cost less to serve, are usually voluntary to pay more than other customers and often generate cutting business via word-of-mouth recommendations. These bene?ts are usually cited as foundations for move customer loyalty initiatives. From a pricing... If you want to get a full essay, order it on our website: Ordercustompaper.com

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