The new wave of airline revenue and pricing management – what next for the leisure customer?
Octavian Oancea and
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Octavian Oancea: Etihad Airways
Razvan Horga: Volantio
Journal of Revenue and Pricing Management, 2018, vol. 17, issue 3, 182-188
Abstract The advances in travel technology as well as the fierce competition that will continue in the following years will redefine not only the way people perceive the travel experience and the way it is distributed, but also the way airlines will price their products and manage their revenues. Higher transparency and excellent synchronization of systems, big data and powerful analytics, together with improvements in distribution in line with IATA’s New Distribution Capability initiative, will create the perfect environment to fine-tune the relationship between airlines and customers and offer them smarter choices and maybe even improve the public perception of revenue and pricing management. However, the deluge of bidirectional information could spur choice overload in the average customer, whereas the airlines could see distribution further taken over by intermediaries. In this article, we will explore what will be the role of the revenue and pricing decision maker in the years to come and how will airlines manage to better attract and keep its customers, with a focus on the leisure customer.
Keywords: pricing; revenue management; distribution; innovation; leisure travel; choice overload (search for similar items in EconPapers)
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