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Revenue Management
Remember growth? That's what companies do when they're healthy, when they're focused on the revenue side of the ledger instead of the cost side. But in the
recent frenzy of downsizing and reengineering, much of corporate America lost sight of the need for real growth, and revenue generation stagnated or declined. Now, in this eye-opening book, Robert G. Cross reminds us that cutting costs is not enough, and he shows how a powerful new strategy called Revenue Management can help any business dramatically improve its bottom line.
Revenue Management--also known as RM--enhances a company's performance through a combination of attitude, sophisticated technology, and state-of-the-art marketing techniques. Cross, whose consulting company has invigorated some of the world's largest airlines and hotel chains, draws on numerous case studies to present profit-making tactics that work in today's fast-moving marketplace. In describing how a one-chair barbershop, a regional opera company, and a medium-size airline all benefited enormously from the RM approach, he explains how no-tech, low-tech, and high-tech Revenue Management applications can revolutionize the way businesses make money.
The RM-driven company has one overriding to sell the right product to the right customer at the right time for the right price. Cross clearly explains the concepts at the heart of Revenue Management, exploding a number of existing myths about contemporary business strategy. He shows how market-based pricing, not cost-based pricing, is one key to profitability. He demonstrates why companies must learn to save their products for their most valuable customers. And he reveals the crucial importance of understanding the value-cycle of a product and then making dynamic decisions at the micromarket level.
The Wall Street Journal recently declared that Revenue Management is "poised to explode" and called Robert Cross "the guru of Revenue Management."
For any company that aims to dominate its chosen markets and achieve lasting growth, this groundbreaking book provides invaluable advice, tactics, and strategy.
recent frenzy of downsizing and reengineering, much of corporate America lost sight of the need for real growth, and revenue generation stagnated or declined. Now, in this eye-opening book, Robert G. Cross reminds us that cutting costs is not enough, and he shows how a powerful new strategy called Revenue Management can help any business dramatically improve its bottom line.
Revenue Management--also known as RM--enhances a company's performance through a combination of attitude, sophisticated technology, and state-of-the-art marketing techniques. Cross, whose consulting company has invigorated some of the world's largest airlines and hotel chains, draws on numerous case studies to present profit-making tactics that work in today's fast-moving marketplace. In describing how a one-chair barbershop, a regional opera company, and a medium-size airline all benefited enormously from the RM approach, he explains how no-tech, low-tech, and high-tech Revenue Management applications can revolutionize the way businesses make money.
The RM-driven company has one overriding to sell the right product to the right customer at the right time for the right price. Cross clearly explains the concepts at the heart of Revenue Management, exploding a number of existing myths about contemporary business strategy. He shows how market-based pricing, not cost-based pricing, is one key to profitability. He demonstrates why companies must learn to save their products for their most valuable customers. And he reveals the crucial importance of understanding the value-cycle of a product and then making dynamic decisions at the micromarket level.
The Wall Street Journal recently declared that Revenue Management is "poised to explode" and called Robert Cross "the guru of Revenue Management."
For any company that aims to dominate its chosen markets and achieve lasting growth, this groundbreaking book provides invaluable advice, tactics, and strategy.
288 pages, Hardcover
First published December 27, 1996
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Displaying 1 - 11 of 11 reviews
May 7, 2011
Rating: 2 stars. Cross does provide the basic framework for how price & revenue optimization (PRO) techniques are implemented, however this book is written with the intention of selling Cross's services as opposed to equipping the reader. While effective pricing initiatives have demonstrated an ability to increase profits between an average 8-11% (McKinsey, A.T. Kearney), in practice, PRO is highly quantitative and demand forecasting & effective product differentiation (critical components) are very difficult.
December 28, 2018
Gross’s seminal Revenue Management captures insights about data science and corporate trends that were ahead of its time when it first appeared in 1997. Gross view about market “entropy” and properly segmenting customer micro-markets give the reader not only the language but also the tactics for increasing company revenue, which is crucial for the fast-moving start-up and corporate giant alike. The reader can discern that Gross’s case studies read as relevant, well-informed, and significant. What’s more is that it’s clear that these case studies stem from Gross’s experience running his own revenue management company.
The book has several minor drawbacks mostly stemming from the fact that the book has now aged for 20 years including unsupported study data, improper data visualizations, and dated case studies that may not resonate with an increasingly technology-driven corporate world. The book takes aim at corporate execs and non-data company employees in a time when “data” was not as much a buzzword as it is today. As a result, much of what Gross hopes to convince the reader about - that data can be used to boost revenue and improve price discrimination - the reader may already find they understand because so many now have booked plane tickets at variable prices and have had the “surge price” mark-up for ride shares.
Despite its shortcomings Gross writes a convincing piece to encourage companies to adopt a data-driven strategy to managing revenue.
The book has several minor drawbacks mostly stemming from the fact that the book has now aged for 20 years including unsupported study data, improper data visualizations, and dated case studies that may not resonate with an increasingly technology-driven corporate world. The book takes aim at corporate execs and non-data company employees in a time when “data” was not as much a buzzword as it is today. As a result, much of what Gross hopes to convince the reader about - that data can be used to boost revenue and improve price discrimination - the reader may already find they understand because so many now have booked plane tickets at variable prices and have had the “surge price” mark-up for ride shares.
Despite its shortcomings Gross writes a convincing piece to encourage companies to adopt a data-driven strategy to managing revenue.
April 27, 2019
Important concept, mostly from younger friends in reverse. This is a safe space.
This entire review has been hidden because of spoilers.
May 4, 2019
Systematic and based on facts, experience and case studies. It can transform your business
May 2, 2025
7.0 É um livro interessante para perceber os fundamentals do Revenue Management. No entanto, encontra-se já algo desatualizado e foca-se em demasia na industria hoteleira e aviação.
July 6, 2016
I enjoyed reading this book! It has some great insighta in to pricing products and services for different market segments. It is more applicable to the service industry (Airlines, car rental companies, hotels, etc...) than consumable products. I rented this book from the local library and ended up buying to have it in my library for reference when needed. Mr Robert G. Cross has founded a consulting business base on the model presented in this book. It is well written...I highly recommend it.
December 26, 2012
One of our principals and our marketing director attended the 2011 Apartment Revenue Management Conference (ARM). Robert Cross spoke at the event and gave out signed copies of his book.
If you are considering revenue management software for your community, this is a must-read. This book provided necessary background on revenue management and helped us to understand how other industries are using revenue management to increase income.
If you are considering revenue management software for your community, this is a must-read. This book provided necessary background on revenue management and helped us to understand how other industries are using revenue management to increase income.
November 6, 2016
Although the book is quite old, the ideas are relevant. I was familiar with this concept as "Yield Management", but by reading this I gained a greater understanding of the mechanics behind such strategies.... and that this tool can be used without any technology by simply shifting demand; as we see with Carol's barber shop.
July 17, 2011
AUTOGRAPHED COPY
September 15, 2012
Extremely informative. Don't regret reading it.
May 29, 2016
Book changed my life. Reading this was the first time I thought of focusing on revenues as something other than "just get more leads and the sales will follow"
Displaying 1 - 11 of 11 reviews