A Meta-Analysis on Revenue Management

3961 Words Mar 19th, 2013 16 Pages
A Meta-analysis on Revenue Management
BBA 7 – G1 Yvonne LIU 302492 Timothy MA 222747

2013-1

Revenue and Pricing Management

Statement of authorship

I certify that this assignment is my own work and contains no material which has been submitted as part of an assignment in any institute college or university. Moreover, to the best of my knowledge and belief, it contains no material previously published or written by another person, except where due reference is made in the text of the assignment.

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Table of Content

1. Introduction……………………………………………………………………4 2. Analysis the future developments of RM………………………………...5 3.
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Noone, Kimes and Renaghan (2003) acknowledge that there is a gap in the hotel industry to integrate customer relationship management and management of revenue. This gap can be attributed to the reduced attention that has been focused on the consequences of integrating CRM and management of revenue. The trend is changing such that hotels are increasingly developing customer relationship strategies and supporting CRM in a bid to enhance loyalty

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among customers and reap more profits in return. Like (Shoemaker, 2003), Noone, Kimes and Renaghan (2003) agree that revenue management from the customers affects customer relations and loyalty. Scanty evidence is available to demonstrate that hotel companies incorporate considerations about management of revenue in the process of customer relations management. As for Noone, Kimes and Renaghan (2003), prior to adopting and implementing the CRM and revenue management integration, the hotel companies should first identify the areas of customer relation that qualify for investment. It is essential for such hotels to quantify the value of their loyal clients before investment in them is made (Storbacka, 1994). The CRM greatly strategy determines the proper revenue management strategy to be adopted by the hotel. The authors conclude that further research work is required in the area of revenue management’s future development, particularly in establishing the financial implications of the integration program of CRM and

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