The primary aim of Revenue Management (RM) is selling the right product to the right customer at the right time for the right price. Ever since the deregulation of airline industry in the USA, and the emergence of the internet as a distribution channel, RM has come of age. Taking an historical perspective, the authors of this paper map out the eight turning points in the evolution of RM. The significance and success to RM is attributed to the following points: Littlewood’s rule, Expected Marginal Seat Revenue (EMSR), deregulation of the US Airline Industry, single leg to origin and destination (O&D) RM, the use of family fares, technological advancement, consumer and price transparency and pricing capabilities in organisations.
|Title of host publication||Unknown Host Publication|
|Publisher||University of Otago|
|Number of pages||139|
|Publication status||Accepted/In press - 17 Feb 2017|
|Event||CAUTHE, Time for Big Ideas; Rethinking the field for tomorrow - New Zealand. Dunedin: University of Otago|
Duration: 17 Feb 2017 → …
|Conference||CAUTHE, Time for Big Ideas; Rethinking the field for tomorrow|
|Period||17/02/17 → …|
- yield management
- revenue management
Yeoman, I., & McMahon-Beattie, U. (Accepted/In press). The eight turning points of revenue management: a brief history of future evolution. In Unknown Host Publication (pp. 77-77). University of Otago.