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Contribution margin-based pricing maximizes the profit derived from an individual product, based on the difference between the product's price and variable costs (the product's contribution margin per unit), and on one's assumptions regarding the relationship between the product's price and the number of units that can be sold at that price.
Yield management (YM) [4] has become part of mainstream business theory and practice over the last fifteen to twenty years. Whether an emerging discipline or a new management science (it has been called both), yield management is a set of yield maximization strategies and tactics to improve the profitability of certain businesses.
A tactic is a conceptual action or short series of actions with the aim of achieving a short-term goal. This action can be implemented as one or more specific tasks. The term is commonly used in business, by protest groups, in military, espionage, and law enforcement contexts, as well as in chess, sports or other competitive activities. [1]
Quantity-based forecasts, which use time-series models, booking curves, cancellation curves, etc., project future quantities of demand, such as reservations or products bought. See Demand forecasting and Production budget. Price-based forecasts seek to forecast demand as a function of marketing variables, such as price or promotion.
Marketing mix modeling (MMM) is an analytical approach that uses historic information to quantify impact of marketing activities on sales. Example information that can be used are syndicated point-of-sale data (aggregated collection of product retail sales activity across a chosen set of parameters, like category of product or geographic market) and companies’ internal data.
Marketing strategy refers to efforts undertaken by an organization to increase its sales and achieve competitive advantage. [1] In other words, it is the method of advertising a company's products to the public through an established plan through the meticulous planning and organization of ideas, data, and information.
Colorado star Travis Hunter is heading to the NFL in 2025. The defensive back and wide receiver put the obvious on the record in a news conference with reporters on Thursday and said that the 2024 ...
Value-based pricing: (also known as image-based pricing) occurs when the company uses prices to signal market value or associates price with the desired value position in the mind of the buyer. The aim of value-based pricing is to reinforce the overall positioning strategy, e.g., premium pricing posture to pursue or maintain a luxury image. [4] [5]