Empirical Evidence of Revenue Management in the Cruise Line Industry

dc.contributor.authorAyvaz Çavdaroğlu, Nur
dc.contributor.authorGauri, Dinesh K.
dc.contributor.authorWebster, Scott
dc.date.accessioned2019-06-27T08:02:39Z
dc.date.available2019-06-27T08:02:39Z
dc.date.issued2019
dc.departmentFakülteler, İşletme Fakültesi, İşletme Bölümüen_US
dc.description.abstractRevenue management (RM) has received considerable attention from both academic and business professionals. It encompasses several techniques regarding capacity allocation pricing and resource management of fixed time-sensitive capacity. RM can be roughly divided into two categories defined by the control mechanism that increases revenue: capacity allocation or price optimization. Our work falls in the latter category. In our model we allow for partial substitutability among products (e.g. a customer making a purchase decision may consider multiple alternatives-different departure dates different destinations different cabin types). We also include marketing expense in addition to prices as a lever for increasing revenue. These features are relevant to dynamic pricing in practice. The method is illustrated with booking data from a cruise company yielding optimal advertising and prices for 300 products. The application of the model results in an increase in revenue in the range of 8%-20%.en_US]
dc.identifier.citation13
dc.identifier.doi10.1177/0047287517737178en_US
dc.identifier.endpage120
dc.identifier.issn0047-2875en_US
dc.identifier.issn1552-6763en_US
dc.identifier.issn0047-2875
dc.identifier.issn1552-6763
dc.identifier.issue1
dc.identifier.scopus2-s2.0-85054977352en_US
dc.identifier.scopusqualityQ1
dc.identifier.startpage104en_US
dc.identifier.urihttps://hdl.handle.net/20.500.12469/659
dc.identifier.urihttps://doi.org/10.1177/0047287517737178
dc.identifier.volume58en_US
dc.identifier.wosWOS:000452310300007en_US
dc.identifier.wosqualityQ1
dc.institutionauthorAyvaz Çavdaroğlu, Nuren_US
dc.language.isoenen_US
dc.publisherSage Publications Incen_US
dc.relation.journalJournal of Travel Researchen_US
dc.relation.publicationcategoryMakale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanıen_US
dc.rightsinfo:eu-repo/semantics/openAccessen_US
dc.subjectRevenue managementen_US
dc.subjectCruise industryen_US
dc.subjectMultinomial choice modelen_US
dc.subjectEmpirical applicationen_US
dc.titleEmpirical Evidence of Revenue Management in the Cruise Line Industryen_US
dc.typeArticleen_US
dspace.entity.typePublication

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