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Revenue management is a discipline to maximize profit by optimizing rate (ADR) and occupancy (Occ). In its day to day application the maximization of RevPAR (Revenue per Available Room) is paramount. For destinations with benchmark data available the maximization of RGI (Revenue Generated Index or RevPar Index) is the focus of this discipline.
Yield management. Yield management is a variable pricing strategy, based on understanding, anticipating and influencing consumer behavior in order to maximize revenue or profits from a fixed, time-limited resource (such as airline seats, hotel room reservations or advertising inventory). [1] As a specific, inventory-focused branch of revenue ...
v. t. e. Customer relationship management ( CRM) is a process in which a business or other organization administers its interactions with customers, typically using data analysis to study large amounts of information. [1] CRM systems compile data from a range of different communication channels, including a company's website, telephone (which ...
A revenue model is a framework for generating financial income. There can be a variety of ways for revenue generation such as the production model, manufacturing model, as well as the construction model. A revenue model identifies which revenue source to pursue, what value to offer, how to price the value, and who pays for the value. [1]
The revenue recognition principle is a cornerstone of accrual accounting together with the matching principle. They both determine the accounting period in which revenues and expenses are recognized. [1] According to the principle, revenues are recognized when they are realized or realizable, and are earned (usually when goods are transferred ...
Marketing mix modeling (MMM) is an analytical approach that uses historic information to quantify impact of marketing activities on sales. Example information that can be used are syndicated point-of-sale data (aggregated collection of product retail sales activity across a chosen set of parameters, like category of product or geographic market) and companies’ internal data.
Marketing is the act of satisfying and retaining customers. [ 3] It is one of the primary components of business management and commerce. [ 4] Marketing is typically conducted by the seller, typically a retailer or manufacturer.
Marketing. Relationship marketing is a form of marketing developed from direct response marketing campaigns that emphasizes customer retention and satisfaction rather than sales transactions. [ 1][ 2] It differentiates from other forms of marketing in that it recognises the long-term value of customer relationships and extends communication ...