Maximize Product availability and Boost Business profitability with the art of pricing!
Course Image by @agent_illustrateur-Christine Roy from unsplash.
Python Crash section included!
in the late seventies, airline ticket prices in the united states were regulated and almost fixed, we as customers did not have the luxury to opt for economy class or business class, only one class!! Back then American airlines were the leaders in the industry. But with deregulation new disruptors as People Express entered the scene with tickets so much cheaper than American Airlines. Customers migrated from American airlines to the economic People Express.
what happened next changed the way we think about prices from merely making a profit to a strategic weapon that boosts business profitability and enhances product availability.
American Airlines introduced segmentation and revenue management techniques on its ticket prices “yield management” to attract People Express Customers back and People Express eventually went out of business. oh, I forgot to mention that American airlines’ profit increased by 47% that year. And the rest was history.
This practice was then adopted by Ford for car rentals, Mariott hotels for room booking, NBC, and ABC for Ads placement to pretty much every business there is nowadays.
this course will take you on this exciting journey of understanding consumer behavior. how to set prices for your products to maximize revenue and enhance product availability. if you are running your own business, managing a product line, or even launching a new product or service, this course will come in handy to set you on the right path for success.
Not only this, Businesses now have hundreds of products and services if not thousands and we simply cannot optimize pricing for all of them with excel for example, that’s why the course introduces you also pricing and revenue management with Python. not to worry if it’s the first time for you with python, I show you how to do it step by step.
Also check: Ethical Hacking