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An overview of research on revenue management: current issues and future research

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  • Wen-Chyuan Chiang
  • Jason C.H. Chen
  • Xiaojing Xu
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    Abstract

    The paper provides a comprehensive review of the recent development of revenue management in different industries. We discuss research on different revenue management strategies including pricing, auctions, capacity control, overbooking and forecasting. Related issues such as economic concerns, customer perception, competition and consolidation, implementation, performance evaluation, and common techniques and approaches used for solving revenue management problems are also discussed. Finally, we give our suggestion on some important areas that warrant further research.

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    Bibliographic Info

    Article provided by Inderscience Enterprises Ltd in its journal Int. J. of Revenue Management.

    Volume (Year): 1 (2007)
    Issue (Month): 1 ()
    Pages: 97-128

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    Handle: RePEc:ids:ijrevm:v:1:y:2007:i:1:p:97-128

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    Web page: http://www.inderscience.com/browse/index.php?journalID=99

    Related research

    Keywords: revenue management; yield management; research; review; strategies; pricing; auctions; capacity control; overbooking; forecasting; economic concerns; customer perception; competition; consolidation; implementation; performance evaluation.;

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    Cited by:
    1. Anand Iyengar & Ketan Suri, 2012. "Customer profitability analysis an avant-garde approach to revenue optimisation in hotels," International Journal of Revenue Management, Inderscience Enterprises Ltd, Inderscience Enterprises Ltd, vol. 6(1/2), pages 127-143.
    2. Mohammad Mahdi Kashef & Azamat Uzbekov & Jorn Altmann & Matthias Hovestadt, 2013. "Comparison of Two Yield Management Strategies for Cloud Service Providers," TEMEP Discussion Papers, Seoul National University; Technology Management, Economics, and Policy Program (TEMEP) 2013103, Seoul National University; Technology Management, Economics, and Policy Program (TEMEP), revised May 2013.
    3. Nur’Hidayah Che Ahmat & Salleh Mohd Radzi & Mohd Salehuddin Mohd Zahari & Rosmaliza Muhammad & Azdel Abdul Aziz & Nor Azmi Ahmad, 2011. "The Effect Of Factors Influencing The Perception Of Price Fairness Towards Customer Response Behaviors," Journal of Global Management, Global Research Agency, Global Research Agency, vol. 2(1), pages 22-38, July.
    4. Haensel, Alwin & Koole, Ger, 2011. "Booking horizon forecasting with dynamic updating: A case study of hotel reservation data," International Journal of Forecasting, Elsevier, Elsevier, vol. 27(3), pages 942-960, July.
    5. Guadix, José & Cortés, Pablo & Onieva, Luis & Muñuzuri, Jesús, 2010. "Technology revenue management system for customer groups in hotels," Journal of Business Research, Elsevier, Elsevier, vol. 63(5), pages 519-527, May.
    6. Meissner, Joern & Strauss, Arne, 2012. "Improved bid prices for choice-based network revenue management," European Journal of Operational Research, Elsevier, Elsevier, vol. 217(2), pages 417-427.
    7. Grauberger, W. & Kimms, A., 2014. "Computing approximate Nash equilibria in general network revenue management games," European Journal of Operational Research, Elsevier, Elsevier, vol. 237(3), pages 1008-1020.
    8. Hultkrantz, Lars, 2012. "A Note on High-Speed Rail Investments and Travelers’ Value of Time," Working Papers, Örebro University, School of Business 2012:13, Örebro University, School of Business.
    9. Özkan, Can & Karaesmen, Fikri & Özekici, Süleyman, 2013. "Structural properties of Markov modulated revenue management problems," European Journal of Operational Research, Elsevier, Elsevier, vol. 225(2), pages 324-331.
    10. Meissner, Joern & Strauss, Arne, 2012. "Network revenue management with inventory-sensitive bid prices and customer choice," European Journal of Operational Research, Elsevier, Elsevier, vol. 216(2), pages 459-468.
    11. Steinhardt, Claudius & Gönsch, Jochen, 2012. "Integrated revenue management approaches for capacity control with planned upgrades," European Journal of Operational Research, Elsevier, Elsevier, vol. 223(2), pages 380-391.
    12. Guerriero, Francesca & Miglionico, Giovanna & Olivito, Filomena, 2012. "Revenue management policies for the truck rental industry," Transportation Research Part E: Logistics and Transportation Review, Elsevier, Elsevier, vol. 48(1), pages 202-214.
    13. Guerriero, Francesca & Miglionico, Giovanna & Olivito, Filomena, 2014. "Strategic and operational decisions in restaurant revenue management," European Journal of Operational Research, Elsevier, Elsevier, vol. 237(3), pages 1119-1132.
    14. Choi, Tsan-Ming & Chow, Pui-Sze & Xiao, Tiaojun, 2012. "Electronic price-testing scheme for fashion retailing with information updating," International Journal of Production Economics, Elsevier, Elsevier, vol. 140(1), pages 396-406.
    15. Kimms, Alf & Çetiner, Demet, 2012. "Approximate nucleolus-based revenue sharing in airline alliances," European Journal of Operational Research, Elsevier, Elsevier, vol. 220(2), pages 510-521.
    16. Geng, Na & Xie, Xiaolan, 2012. "Optimizing contracted resource capacity with two advance cancelation modes," European Journal of Operational Research, Elsevier, Elsevier, vol. 221(3), pages 501-512.
    17. Dimitrios M. Emiris & Charis A. Marentakis, 2012. "Enhancement of revenue management strategies through location-aware m-auctions for logistics services," International Journal of Revenue Management, Inderscience Enterprises Ltd, Inderscience Enterprises Ltd, vol. 6(1/2), pages 102-126.
    18. Yoon, Moon Gil & Lee, Hwi Young & Song, Yoon Sook, 2012. "Linear approximation approach for a stochastic seat allocation problem with cancellation & refund policy in airlines," Journal of Air Transport Management, Elsevier, Elsevier, vol. 23(C), pages 41-46.
    19. Huang, Kuancheng & Lin, Chia-Yi, 2014. "A simulation analysis for the re-solving issue of the network revenue management problem," Journal of Air Transport Management, Elsevier, Elsevier, vol. 38(C), pages 36-42.
    20. Nur’Hidayah Che Ahmat Author_Email: nurhidayahcheahmat@gmail.com & Salleh Mohd Radzi & Mohd Salehuddin Mohd Zahari & Rosmaliza Muhammad, 2011. "The Effect Of Factors Influencing The Perception Of Price Fairness Towards Customer Response Behaviors," 2nd International Conference on Business and Economic Research (2nd ICBER 2011) Proceeding, Conference Master Resources 2011-169, Conference Master Resources.

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