Revenue Management
Module leader: Dr Joern Meissner
Duration and timing: total of 24 hours, Summer Term
Overview
In this elective you will learn to identify and exploit opportunities for revenue optimisation in different business contexts. You will review the main methodologies that are used in each of these areas, discuss legal issues associated with different pricing strategies, and survey current practices in different industries. Most of the topics covered are either directly or indirectly related to pricing issues faced by firms that operate in environments where they enjoy some degree of market power.
Within the broader area of pricing theory, particular emphasis is given to tactical optimisation of pricing and capacity allocation decisions. These are tackled using quantitative models of consumer behaviour (for example, captured via appropriate price-response relations), demand forecasts and market uncertainty, and the tools of constrained optimisation – the two main building blocks of revenue optimisation systems.
Assessment
Coursework assignment
Sample syllabus:
Revenue Management
