Driving Revenue: Understand your pricing power to increase your pricing
In this episode, I dive into the concept of pricing power and how it can help you make more money in revenue management. I explain the difference between positioning and pricing, and how subjectivity and algorithms play a role. I also discuss the key components of pricing and the resulting pricing power: sales, marketing, operations, product, and price. By optimizing each of these areas, you can attract new consumers, drive more penetration, and deliver a valuable experience. Enjoy the show to gain a deeper understanding of pricing power and how it can impact your revenue management strategy.
