JournalTOCs

Journal of Revenue and Pricing Management
Journal Prestige (SJR): 0.416

Number of Followers: 4

Hybrid journal (It can contain Open Access articles)
ISSN (Print) 1476-6930 - ISSN (Online) 1477-657X
Published by Springer-Verlag

[2469 journals]

Correction to: The age of intelligent retailing: personalized offers in
travel for a segment of ONE
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  PubDate: 2022-06-01
Correction to: Bringing economies of integration into the costing of
groupage freight
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  Abstract: A correction to this paper has been published: https://doi.org/10.1057/s41272-021-00324-z
  PubDate: 2022-06-01
Price sensitivities of the consumer in a tourist market
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  Abstract: Abstract Are tourists sensitive to price' A field experiment was conducted to draw conclusions regarding the effect of three different price strategies on the revenues of a small business selling to tourists. Price elasticity determinations during each phase of the pricing experiment were also computed. This research was conducted in a tourist-based monopolistic competition market structure. Results from the pricing strategies examined indicated little to no difference in sales revenues regardless of pricing strategy employed. This finding is relevant for small businesses operating in a tourist market who often compete on price.
  PubDate: 2022-06-01
Ben Vinod (2020) Evolution of Yield Management in the Airline Industry.
Switzerland: Springer
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  PubDate: 2022-06-01
Considerations of luxury wine tourism experiences in the new world: three
Waiheke Island vintners
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  Abstract: Abstract This paper is based on an exploratory study and presents the unique perspectives of three award-winning vintners and their views of luxury wine tourism experiences in an island setting. The luxury segment of the wine industry has experienced steady growth yet understanding of new-world vintner perspectives and motivation for luxury wine production is missing. Strategies used by the vintners include an emphasis on the spiritual dimensions of a vineyard visit, and the maximisation of location, terroir, and scenic views. Key to the strategies was the realisation that customers are first and foremost in the creation of luxury wine tourism experiences.
  PubDate: 2022-06-01
Can coupons counteract strategic consumer behavior'
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  Abstract: Abstract In multi-period environments, the presence of strategic consumers induces monopolist retailers to inter-temporally compete with themselves. Targeting consumers with price-discount coupons is a proposed mechanism to overcome this inter-temporal competition. Targeting consumers with coupons can counteract strategic consumer behavior, but this mechanism cannot completely eradicate the negative implications imposed by the presence of such consumers. Additionally, the quality of information available (regarding the consumers’ valuations) may play an important role in the targeting decisions. Specifically, we illustrate how the retailer may absent completely from targeting efforts when the quality of information and the proportion of strategic consumers are sufficiently low. Lastly, we consider the optimal investment in information solicitation, demonstrating the trade-off between a low investment, which result in low quality of targeting capability, and a high investment which improves the effectiveness of the targeting efforts.
  PubDate: 2022-06-01
Price-related consumer discussions in China and the United States: a
cross-cultural study investigating price perceptions and word-of-mouth
transmission
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  Abstract: Abstract Prices are among the most frequently discussed topics in consumer research. Although word-of-mouth is known to be highly influential and it is considered to be of growing importance, previous research has largely neglected price-related word-of-mouth, especially in a cross-cultural context. The present study fills this research gap by analyzing the effects of price-related word-of-mouth valence, price changes communicated by word-of-mouth, market mavenism and national culture on price fairness and expensiveness perceptions, as well as on subsequent word-of-mouth intentions. Two studies employing Hofstede’s national culture dimensions reveal considerable differences between the cultures of the United States and China.
  PubDate: 2022-06-01
Marketing attributes in yogurt weekly pricing in Argentina
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  Abstract: Abstract Pricing under inflation proves to affect marketing effectiveness. We analyze the weekly price evolution of yogurt segments offered in supermarkets in Argentina for the period 2015–2020. By taking into account the strong macroeconomic instability of the period, we try to figure out what role marketing variables such as product attributes and promotions have played in pricing. We find that specific attributes such as flavor and texture and time effects significant. As expected, much of the pricing was affected by general and sectorial inflation of the period.
  PubDate: 2022-06-01
Comparison of expected marginal revenue models in the hospitality industry
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  Abstract: Abstract This paper focuses on the issue of revenue management models that are based on Littlewood's rule. The main aim of this paper is to compare the Expected Marginal Seat Revenue model in the two variants: EMSRa and EMSRb model. The whole application is made in the hospdels that are based on Littlewood's rule. The main aim of this paper is to compare the Expected Marginal Seat Revenue model in the two variants: EMSRa and EMSRb model. The whole application is made in the hospitality industry and is based on historical data provided by the accommodation facility. The main results show, that there are only a few differences between EMSRa and EMSRb models. Nevertheless, the EMSRb model can be more robust for the facilities with a higher variety of the clients (measured by the standard deviation).
  PubDate: 2022-06-01
Analyzing and forecasting online tour bookings using Google Analytics
metrics
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  Abstract: Abstract An essential part of business operation for tourism industry is revenue management, i.e., how to sell the right tour package, to the right customers, at the right time, at the right price through the most appropriate and cost-effective channels. In today's world, the internet has revolutionized many business operations in the tourism industry which plays an important role in Thailand's GDP. Most tour operators utilize websites as the main channel to build relationships with customers. Thus, website performance measurement is an important strategic factor for online marketing. The objectives of this research were to identify factors contributing from Google Analytics metrics to online bookings and to forecast online bookings using those impactful factors. Several machine learning models namely artificial neural network (ANN), support vector regression, and random forest, were proposed to forecast online bookings using the mean absolute percentage error (MAPE) as the criterion for comparison. It was found that there were three Google Analytics metrics that contributed to online bookings, which were the sessions from referral, unique returning users, and the average session duration. In addition, the ANN model provided the highest accuracy result with a MAPE of 11.39%. The framework from this research can be applied to other online companies to forecast their online bookings, which is an important part of revenue management since accurate forecasts can help companies to achieve their goals.
  PubDate: 2022-06-01
A dual supply chain revenue sharing contract considering online reviews
and rebate
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  Abstract: Abstract There exist a variety of channel conflict problems in dual supply chain, some manufacturers and retailers often consider consumers’ reviews and adopt some measures such as rebate and revenue sharing in order to deal with these problems and expand their respective markets and gain more profits. In this paper, considering the effect of the online reviews and rebate on supply chain, we establish a dual-channel supply chain model, and exploit it to analyze the impact of the rebate and online reviews on the supply chain and discuss their optional decisions, and then we deign a coordination contract through revenue sharing.
  PubDate: 2022-06-01
Uncovering the relationship between revenue management and hotel loyalty
programs
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  Abstract: Abstract This study investigates the underexplored relationship between revenue management and hotel loyalty programs. Results from a focus group and personal interviews with industry experts reveal that revenue management uses loyalty programs primarily as a tool to track and gather data on the customer, and revenue managers focus more on Average Daily Rate (ADR) than on total guest spend. Additionally, revenue managers are misinformed about the loyalty concept and confuse the connections between transactional, attitudinal, and true loyalty. Suggestions for future research include the investigation of the topic further by conducting a study using quantitative measures and analyses.
  PubDate: 2022-06-01
Paths and patterns of value capture innovation in sharing economy
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  Abstract: Abstract The purpose of this research is to investigate value capture innovation in sharing economy platforms. Revenue management and pricing strategies are indeed pivotal aspects platforms should care about when (re)configuring their business models. A mixed-method investigation has been performed to achieve this goal: a longitudinal content analysis and a case studies analysis. Results from the first step of the research show that four main typologies of innovation emerge in the analyzed platforms. Furthermore, the case studies analysis reveals three main patterns (Network, Monetization, Lock-in) and the possible paths a platform can undergo when innovate its value capture mechanisms.
  PubDate: 2022-06-01
Efficiency measurement for revenue management
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  Abstract: Abstract New measure for revenue management efficiency based on the information ratio of the analyst decisions is introduced. Compared to the often-used revenue opportunity models based on greedy upper and lower revenues this measure is defined for all demand levels and inherently expresses the effect of demand forecast errors. In this study, we consider Gaussian demand vector with possibly non-zero covariance, although the model translates to any demand distribution.
  PubDate: 2022-05-21
Forecasting at capacity: the bias of unconstrained forecasts in model
evaluation
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  Abstract: Abstract Revenue management practices require accurate forecasts for optimal rate decisions, and therefore researchers and industry are keen on identifying the most accurate methods. This study is first to discuss the challenges of forecasting evaluation when predictions exceed capacity. Specifically, evaluators face two choices that are identified and defined, leading to the studies hypotheses. The empirical investigation confirms the importance of considering how to manage these predictions in the evaluation phase and demonstrates how the choice may sway overall accuracy measures and bias the results of model performance. The findings have important implications for capacity-based forecasting research and revenue management practice, since this previously undiscussed capacity-induced bias may alter the results of forecasting studies in academia, as well as the effectiveness of revenue management practices.
  PubDate: 2022-05-19
Does it pay to book direct': Customers’ perceptions of online
channel distributors, price, and loyalty membership on brand dimensions
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  Abstract: Abstract To attract a transient market, hotels primarily use several distribution channels, such as the following: the hotel directly, central reservation offices, travel agents, and online booking systems. Yet, little attention has been paid to the revenue management implications with regard to the focus on distribution channels. The purpose of this study was to examine the effects of channels and prices on brand dimensions and to study the role of hotel loyalty membership in the relationships. A 2 (channel) × 2 (price) × 2 (loyalty membership) quasi-experiment was designed to test the research objectives. Multivariate Analysis of Variance was used to test significant differences. The findings provide implications for the industry.
  PubDate: 2022-05-19
Customer-centric influence of entrepreneurial marketing on business
performance of hotels in Nigeria during the COVID-19 crisis
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  Abstract: Abstract The ravaging COVID-19 pandemic has forced hotels in developed countries to adopt entrepreneurial marketing (EM) practices as a resilience strategy. However, there are few studies in Nigeria on how EM practices have been used in the hotel industry for their survival and growth. The study examines the customer-centric influence of EM on business performance of hotels in Nigeria during the COVID-19 crisis. Using a cross-sectional survey design, we collected primary data from 578 owner-managers and top managers of 66 hotels in Lagos and Yola in Nigeria using structured questionnaires. Respondents were selected based on the purposive sampling technique. The data collected were analysed using descriptive and inferential statistics with the aid of statistical package for social sciences (SPSS Version 21). Three regression estimations are reported. The estimation in model 1 indicates that calculated risk-taking dimension has a significant positive influence on general performance, while the proactiveness, innovativeness, value creation, resource leveraging, opportunity to focus and customer intensity dimensions do not. The estimation in model 2 suggests that calculated risk-taking and customer intensity dimensions have a significant positive influence on revenue per room, while the other five EM dimensions do not. The estimation in model 3 indicates that calculated risk-taking dimension has a significant positive influence on market share, while the six EM dimensions do not. The owner-mangers and top managers of hotels should fortify and upscale the weak EM dimensions as a resilience strategy for recovery from the ravages of the COVID-19 crisis. We bridge the gaps in the literature by providing interesting insights into the potential value of the adoption of EM as a post-COVID-19 recovery strategy by the hotel segment of the hospitality industry in the developing context of Nigeria. We also validate the applicability of RBT in predicting the influence of EM dimensions on performance in the developing context.
  PubDate: 2022-05-19
Highly debated but still unbundled: The evolution of U.S. airline
ancillary products and pricing strategies
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  Abstract: Abstract This paper investigates how airline pricing strategies and revenues have evolved over time for unbundled flight products, using the eight largest U.S. airlines. Findings indicate that ticket exchange fees are being eliminated by network and low-cost carriers. On the other hand, baggage and seat reservation fees have grown more complex, with some carriers moving towards dynamic pricing. Ancillary revenues from unbundled flight products represent an increasing portion of airlines’ total operating revenues, especially for ultra low-cost carriers. We estimate that the product unbundling trend has decreased revenues to the U.S. Airport and Airway Trust Fund by 4.0%–4.6% due to untaxed baggage and seat reservation fees alone. We also discuss government policies on ancillary revenue disclosure and pricing transparency, and the global COVID-19 pandemic’s impact on ancillaries.
  PubDate: 2022-05-18
Florida tourist development tax changes and the risk to hotel revenue
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  Abstract: Abstract Taxes such as the Florida Tourist Development Taxes are popular in the United States. Earlier research on rate increases for these bed taxes identified a surprising short-term decline in pre-tax lodging spending. We address the surprise with hotel data that include price and quantity measures. Results show that when Florida counties increase the rate, room rental quantity reductions can occur. As prices charged by operators generally do not change, the Florida lodging industry faces the risk of potential loss of revenue when rate increases are enacted. This risk partially explains why counties have not moved quickly to the statutory maximum.
  PubDate: 2022-05-18
Ukraine, price and inflation
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  PubDate: 2022-05-13