This course shows how to increase revenues and profits by adjusting the prices offered to customers. It does so by addressing both the overall pricing strategy of a business and the many day-to-day pricing tactics that can be employed within that overall strategy. Examples of revenue management tactics are bundling and unbundling, dynamic pricing, overbooking, reference pricing, and special financing offers. The course goes on to describe rate fences and other tools to keep discount offers away from full-price customers, as well as revenue management complications and the long-term effects of these activities. In total, the course presents the user with a multitude of options to consider for enhancing the financial performance of a business.
Pricing Strategy. Revenue Management Tactics. Hotel-Specific Revenue Management. Menu Engineering.
CPAs, CFPs, and other business and finance professionals.
Recognize the different types of strategic pricing options and their characteristics. 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.
Steven Bragg, Western CPE
Steven M. Bragg, CPA, is a full-time book and course author who has written more than 70 business books. He provides Western CPE with self-study courses in the areas of accounting and finance, with an emphasis on the practical application of accounting standards and management techniques. A sampling of his courses include the The New Controller Guidebook, The GAAP Guidebook, Accountants’ Guidebook, and Closing the Books: An Accountant’s Guide. He also manages the Accounting Best Practices podcast.
Steven has been the CFO or controller of both public and private companies and has been a consulting manager with Ernst & Young and an auditor with Deloitte & Touche. He holds an MBA from Babson College, a Master of Finance from Bentley College, and a BA from the University of Maine (summa cum laude).
Non-Member Price $100.00
Member Price $87.00