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Consultants, called corporate witch doctors by some, do a lot of thinking, some profitable, some not. One of the apparently most profitable ideas in recent years has been something called revenue management. It's a new holy grail that means selling the right product to the right customers at the right time for the right price.
Successful practitioners have included Marriott International, Southwest Airlines, Hilton Hotels Corporation, American Airlines, and many other hospitality and aviation businesses with a large percentage of fixed costs.
This book is a good stab at describing market forces from the revenue perspective. The marriage of marketing and operations research is a definite strength of the RM model. Author Robert G. Cross's company has served the most successful clients in the airline and hospitality industry.
Expect to be seeing a flurry of buzzword activity around "revenue management."
Michael Pellecchia writes about business and finance books each month He can be reached at michael_pellecchia@bookpage.com.
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