BE-110 Managerial Accounting, SE-112, Principles of Economics, and MF-102, Marketing, or equivalent.
Upon successful completion of this course students should be able to:
explain what Revenue Management (RM) is and how it relates to other subject areas
describe different approaches to pricing, such as cost based pricing, market based pricing and value based pricing
explain the concept of price differentiation and how this relates to revenue management
know about the most common RM techniqes
apply RM techniques in tourism and experience industries
problematise and discuss RM in terms of added value and the effects of RM from different perspectives
recognize and reflect upon legal and ethical issues related to revenue management
The focus in Revenue Management (RM) is to optimize revenue and profit by differential pricing. The main challenge of RM is to provide the right product to the right customer at the right price at the right time, by using price differentiation. RM as a field of knowledge is subject to increased attention, particularly in the hospitality sector, and this sector is also the main focus in the course. The course is based on theory, but practical ways to apply RM will also be presented.
Lectures, seminars and group work. Estimated workload is about 200 hours.
Approved compulsory assignments. More information in Canvas at the start of the semester.
Assessment methods and criteria
4-hour individual written examination with letter grades.
The study programme manager, in consultation with the student representative, decides the method of evaluation and whether the courses will have a midterm- or end of term evaluation, see also the Quality System, section 4.1. Information about evaluation method for the course will be posted on Canvas.