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Pricing and revenue optimization.



0804746982

Pricing and revenue optimization.

Phillips, Robert L.

Stanford U. Press

2005

355 pages

$59.95

Hardcover

HF5416

Writing for graduate and upper-level undergraduate students, as well as for professionals seeking guidance in revenue management and dynamic pricing, consultant Phillips describes how companies should set and adjust their prices to maximize profitability. Drawing on his lectures at Stanford and Columbia Business Schools Columbia Business School (part of Columbia University), officially named the Columbia University Graduate School of Business, and also known as CBS, was established in 1916 to provide business training and professional preparation for undergraduate and graduate , Phillips describes the background and contexts of pricing for revenue optimization, including the traditional approaches and more modern processes, basic price optimization and differentiation, pricing with constrained supply, revenue management, capacity allocation, network management, overbooking Overbooking is a term used to describe the sale of access to a service which exceeds the capacity of the service. Telecommunications
In the telecommunications industry, overbooking -- such as in the frame relay world -- means that a telephone company has sold access to
, markdown Markdown

The difference between the highest current bid price among broker-dealers in the market and the lower price that a dealer charges a customer.

Notes:
The broker offers a lower price to try stimulate trading in hopes that they will make the money back on the extra
 management, customized pricing, and customer acceptance. Readers could benefit from experience with probabilistic (probability) probabilistic - Relating to, or governed by, probability. The behaviour of a probabilistic system cannot be predicted exactly but the probability of certain behaviours is known. Such systems may be simulated using pseudorandom numbers.  modeling, optimization theory and basic calculus calculus, branch of mathematics that studies continuously changing quantities. The calculus is characterized by the use of infinite processes, involving passage to a limit—the notion of tending toward, or approaching, an ultimate value. .

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Publication:Reference & Research Book News
Article Type:Book Review
Date:Nov 1, 2005
Words:124
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