In today's competitive market, effectively managing pricing strategies is crucial for businesses seeking to enhance their revenue and profit margins. However, determining the optimal pricing approach and implementing day-to-day pricing tactics can be a complex and challenging task. This online self-study CPE course offers a comprehensive solution by focusing on both overarching pricing strategies and specific revenue management tactics. Participants will explore a variety of approaches, including bundling and unbundling, dynamic pricing, overbooking, reference pricing, and special financing offers. The course also delves into the use of rate fences and other methods to differentiate discount offers from full-price sales, addressing potential complications and long-term effects on business performance. By the end of this online self-study CPE course, participants will have a deeper understanding of various pricing options and the tools needed to enhance the financial performance of their business.
Learning Objectives
Upon successful completion of this course, participants will be able to:
Chapter 1
Recognize the different types of strategic pricing options and their characteristics.
Chapter 2
Specify the advantages and disadvantages of contribution margin pricing.
Cite the different types of incremental costs associated with revenue management.
Recognize the situations in which coupons and other promotions are most effective.
Specify the circumstances under which pricing adjustments can increase revenues.
Specify the situations in which bundling and unbundling can be favorable revenue management tools.
Recognize the purposes to which markdown management software can be put.
Specify the different types of revenue management activities used by airlines, hotels, and restaurants.
Understand how price positioning can skew the purchasing decisions of customers.
Recognize reference prices and their impact on the shopping decisions of customers.
Specify how profits can be increased by using volume purchase discounts.
Recognize the tools used to restrict the volume of sales at certain price points.
Cite the types of revenue boosts that are linked to high levels of customer satisfaction.
Major Topics
Pricing Strategy
Revenue Management Tactics
Hotel-Specific Revenue Management
Menu Engineering
