Revenue management is the process to understand, anticipate and influence consumer behavior at the micro-market level; it optimizes product availability and price to maximize revenue growth. It is one of the key components that help gain maximum profit margin along with ensuring greater market share. Revenue management depends on a number of factors including current and expected availability, projected demand and actual leasing velocity, recently achieved rental rates, amenities, lease term and existing market dynamics. Thus, in a nut shell, revenue management is the art of selling the right product to the right customer at the right time for the right price.
A good revenue management plan includes a range of opportunities that leads to an increase in revenue. The steps followed in this process are:
Our revenue management team is well qualified, experienced and works with a focused approach to optimize your revenue stream. At Wizie, we use the latest revenue management tools to ensure greater profit share for you. With the help of these methodologies and tools, we identify the factors that cause revenue loss and offer ideal solutions to resolve the issues, so that you enjoy gradual increase in your profit margin.
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