Offer Management, Dynamic Pricing, and Order Management

Ben Vinod

Chapter Chapter 9 in Mastering the Travel Intermediaries, 2024, pp 291-327 from Springer

Abstract: Abstract The airline industry is transitioning its focus from revenue management to offer management. This chapter delves into the main benefits and capabilities required for dynamic pricing, offer creation, and order management. Dynamic pricing refers to real-time fares that are calculated based on reference fares and prevailing market conditions. These fares cannot be replicated outside of the airline enterprise environment by an intermediary. The chapter also explores recommendation engines that create personalized offers for different customer segments based on the context for travel. It discusses the use of reinforcement learning techniques to continuously refine these recommendations through test and learn experimentation. Additionally, the chapter examines how offers impact corporate travel and discusses the role of product normalization on the global distribution systems storefront in determining screen display. Finally, the chapter concludes with a discussion on the transition from passenger name record, E-Ticket, and electronic miscellaneous document to ONE Order.

Keywords: Dynamic pricing; Continuous pricing; Offer management; Context for travel; Trip purpose segmentation; Recommendation engine; Personalized offers; Order management (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:spr:mgmchp:978-3-031-51524-8_9

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DOI: 10.1007/978-3-031-51524-8_9

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