A customer value-based airline revenue management approach considering both opportunity costs and misclassification of heterogeneous clients
| Autor: | Michael Mohaupt, Andreas Hilbert |
|---|---|
| Rok vydání: | 2015 |
| Předmět: |
Economics and Econometrics
Customer retention Opportunity cost Revenue management business.industry Customer profitability Strategy and Management media_common.quotation_subject Customer relationship management Microeconomics Economics Quality (business) Yield management Business and International Management business Customer to customer Finance media_common |
| Zdroj: | Journal of Revenue and Pricing Management. 14:321-341 |
| ISSN: | 1477-657X 1476-6930 |
| DOI: | 10.1057/rpm.2014.31 |
| Popis: | Owing to intense competition, not only airlines are interested in the establishment of long-term profitable customer relationships. However, clients can often not be classified into the appropriate customer segment (each characterised with a long-term customer value) unambiguously as only insufficient information is available at the time of decision for acceptance or denial of their requests. By considering (mis-)classification and evaluating the expected effects on revenues, we extend a bid price control that bases its decision on uncertain trend information about segment distribution and chooses that particular segment maximising expected value during opportunity costs comparison. Finally, we can show advancements both in quality of decisions and revenues compared with traditional methods via simulation. |
| Databáze: | OpenAIRE |
| Externí odkaz: |
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