Managing Revenue with Pricing
Making price more variable is essential to maximizing revenue. This course presents pricing strategies you can use to make price more variable, and it considers the pros and cons of using variable-pricing strategies.
This course also examines how the availability of resources, certain staff issues, and financial impact are important considerations during the implementation of an overall restaurant revenue management strategy.
It describes the analysis and planning required during the implementation of a strategy built on variable pricing, price discrimination, price elasticity, price customization, demand-based pricing, rate fences, and menu engineering.
Who Should Take this Course?
This course is designed to show Foodservice managers how to use variable pricing to increase revenue at their restaurant.
Participants who complete this course will be able to...
- Select and implement pricing strategies to increase revenue
- Assess the financial impact of restaurant revenue management strategies
- Calculate the costs and payback periods associated with implementation
- Address implementation issues associated with staffing, management, and training
- Sheryl Kimes, Professor , School of Hotel Administration, Cornell SC Johnson College of Business
Estimated Hours to Complete Course: 6.0
About the School of Hotel Administration at the Cornell SC Johnson College of Business
The School of Hotel Administration at the Cornell SC Johnson College of Business is shaping the global knowledge base for hospitality management through leadership in education, research, and industry advancement. Accredited by the Association to Advance Collegiate Schools of Business (AACSB), the school provides management instruction in the full range of hospitality disciplines, educating the next generation of leaders in the world's largest industry. Founded in 1922 as the nation's first collegiate course of study in hospitality management, the Cornell School of Hotel Administration is recognized as the world leader in its field.