Revenue management is a technique to meet the demand of customers
by optimizing the inventory and price .Revenue management is a process of
maximizing the profit of particular organization by meeting the demand of
customers .Today even every business whether big or small including hotels, restaurants
are in the need of a proper revenue management system in order to increase
revenue by minimizing the resources. Today even customer is becoming more
attentive with the online searching trends to choose the best deal done at
minimum price. So in order to increase assets of any business a proper revenue
management system is required.
Revenue management is a planned strategy of maximizing the profit by gathering enough
knowledge of product cost in global market, competition by nearby companies , demand of product ,quality of
product ,taste of customer, total sale, company target, profit target, tax etc .
Revenue Management is a long term process to keep track of data affecting
the flow of revenue .The unity of revenue manager also plays a major role in
managing the assets of the company causing loss .So each and every factor
whether related to external resources or resources within a organizational
needs to be properly evaluated to increase the cash flow.
