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Manage Your Prices: an Introduction to Pricing Strategy and Revenue Management

ENAC via FutureLearn

students interested
  • Provider FutureLearn
  • Subject Business
  • $ Cost Free Online Course (Audit)
  • Session In progress
  • Language English
  • Certificate Paid Certificate Available
  • Effort 3 hours a week
  • Start Date
  • Duration 4 weeks long

Taken this course? Share your experience with other students. Write review

Overview

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How do airlines, hotels, resorts and other organisations manage their prices? Why are these prices apparently unrelated to costs and different for each consumer? And what are the underlying reasons and processes behind these prices?

Open the black box of pricing strategy and revenue management

This free online course will open the black box of revenue management – the widespread pricing strategy that the travel, leisure and other industries use to generate additional revenue, by setting prices according to people’s preferences and willingness to pay.

You will explore the methods at the core of many revenue management systems, discovering the answers to questions such as:

  • Do all customers have the same sensitivity to price?
  • How can a firm use its knowledge on demand, to charge different people different prices for the same product?
  • Why do the prices vary over time?
  • How can a firm slightly differentiate its product in order to charge widely different prices to different people?
  • How can you define the right set of prices to increase the firm’s profit?
  • What is the outcome for the individual consumer? And for consumers as a whole?

Step into a pricer’s shoes and set your own pricing strategy

Throughout the course you will practice what you learn through practical pricing problems, pricing simulation games and interactive case studies. For example, you will step into the shoes of a pricer and set an airline’s pricing strategy over a period of time.

By the end of the course, you will be able to:

  • Demonstrate your knowledge and understanding of pricing strategies;
  • Compare and evaluate different pricing schemes in different sectors of industry;
  • Design a pricing framework in a real-life revenue optimisation situation;
  • Implement revenue management in your business, and experiment with price setting and capacity allocation.

Learn with revenue management specialists from aviation and other industries

The course has been developed by ENAC (Ecole Nationale de l’Aviation Civile) – a university specialising in the economics and strategy of the aviation industry, where revenue management originated.

Throughout, ENAC educators will also be joined by experts from other sectors that are successfully using revenue management techniques, giving you a variety of perspective and experiences.

This course is designed for professionals who want to adopt pricing strategy and revenue management techniques in their organisation. You could be working in an industry where this practice is already common – such as at a travel, rental, catering or leisure business – or in a sector where it is emerging – such as at a mobile app developer or an e-commerce retailer.

The course is open to anyone, so may also interest consumers who are keen to understand why prices vary and how revenue management – which gives discounts to many and high prices to a few – works in many areas of their everyday’s life.

Taught by

Nathalie Lenoir and Christophe Bontemps

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Reviews for FutureLearn's Manage Your Prices: an Introduction to Pricing Strategy and Revenue Management
5.0 Based on 8 reviews

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  • 1
L. D
5.0 10 months ago
by L. completed this course.
This is a course for everyone on beginner level and on a medium-level for those interested in specific fields: airlines, hotels, hospitality. Declared workload is viable, but for full experience (additional materials, more involvement into discussions) one should count several additional hours a week.

Many concepts discussed here are useful not only on professional level, as an insight into pricing strategies and their causes, and the current status of revenue management, but also as a part of personal life (how does the airline industry works - please keep in mind, the course is …
Was this review helpful to you? Yes
Alejandro M
5.0 2 years ago
by Alejandro completed this course, spending 7 hours a week on it and found the course difficulty to be medium.
A compelling course on pricing strategies that combines videos, articles, exercises, quizzes, games, graphics, clear explanations, and interviews with the masters of Revenue Management. Teachers are well engaged in the forums, giving feedback and helping students to think about what they learn. Highly recommended for those who are into hospitality, travel or other service industries. If you want to be a Hotel Manager, you can't miss this course!
Was this review helpful to you? Yes
Hector A
5.0 2 years ago
by Hector completed this course, spending 3 hours a week on it and found the course difficulty to be medium.
Nice variety of the learning material: clear and short videos, cartoon like animations, interviews, articles, and also access to a fantastic online pricing simulation platform.

The course is very concrete and practice oriented, and I am redefining right now my own pricing strategy thanks to it.

Highly recommanded.
Was this review helpful to you? Yes
Anonymous
5.0 a year ago
Anonymous completed this course.
I originally took this course to comply with CDP demands of teaching and NVQ assessor roles. It looked like the least objectionably on the list but turned out to be the one of the best course I have ever done. Absolutely Brilliant! I have learnt so much and thought about topics that I would have never have done before. I would highly recommend this course.
Was this review helpful to you? Yes
Andrés C
5.0 11 months ago
by Andrés completed this course.
Very interesting and well prepared introductory course to this fascinating topic. Tutors are very involved, both preparing the materials as well as answering your questions and comments. This is a topic that every business oriented person should take seriously.
Was this review helpful to you? Yes
Anonymous
5.0 10 months ago
Anonymous completed this course.
Very nice organized with good slides and interesting interviews. It is mainly as an introduction on the subject but experienced professionals could also find it interesting.
Was this review helpful to you? Yes
Anonymous
5.0 6 months ago
Anonymous completed this course.
Awesome! I do really enjoy this course; at first I refreshed all the past thing I´ve learned, but the 2 lasts weeks I started to learn something new and different!

Educators and mentor were always answering questions and giving feedback.

I do really promote this course, it is very interesting, with excellent interviews with great RM experts and very smooth to understand!

Thank you very much, Christophe, Nathalie and Mai; and all the colleagues I had during the course!

:D :D

Was this review helpful to you? Yes
Multibabylia M
5.0 6 months ago
by Multibabylia completed this course.
I learned a lot with this class, it help me have a view on the RM. Everything was well explain, also the expert intervenants were very clear with their explaination. For the first time I finished an online course, it was so interessting and well structured. Thank you again.
Was this review helpful to you? Yes
  • 1

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