Find Hospitality Courses & Degrees

Pricing is one of the most important but least understood marketing decisions. Learn and practice concepts, techniques, and get to grips with the latest thinking on assessing and formulating pricing strategies. Analyze how firms attempt to capture value, as well as profits, in the revenues they earn. After this course, you will be able to contribute to the process of formulating pricing strategies for your own products and services, or those of your firm. This course has an additional focus on pricing dynamics and the reaction to and by competitors, taking a highly pragmatic approach and one that is directly applicable to your day-to-day professional life. Martin Boehm - IE Professor and Dean of the Business School with over 10 years experience - will guide you through four modules. We begin with the importance of pricing and how it ultimately can affect the bottom line. Then, we move on to methods to help you decide what is the optimal price for your product; and then price discrimination - should all your products follow the same pricing strategy or should you differentiate depending on the customer segment? Finally, we look at pricing psychology and how you can manipulate customers in order to drive the highest possible price for your product.

Segmenting your customer base is critical to developing a variable pricing scheme. By identifying core groups of customers and their purchasing habits, you can target them accordingly by setting prices that will help you win their business over your competition. Without proper segmentation, however, dynamic pricing can backfire, which can alienate consumers and turn them into perpetual deal-seekers.

Offered by ESSEC Business School With a fixed capacity, a highly disposable product and high fixed costs, hotels are a natural candidate for the application of revenue management. Originally developed by the airlines in the 1970s, these analytics-based techniques help predict consumer behavior at the hotel’s market level so that the hotel can sell each room each night at the optimum price.

This certificate program consists of five two-week courses. The series builds on the fundamental principles of pricing and revenue management to give you advanced tools and techniques to make strategic hotel pricing decisions, set inventory controls, and encourage demand manipulation to drive profits and overall organizational performance.

In this course, the participant will learn the basic concepts related to financial and management accounting. The participant will be introduced to the basic cost concepts and cost volume profit analysis. Different pricing methods are also discussed. The participants are expected to watch all the video content under each module, acquaint themselves with additional materials provided, and then take the quizzes. The quizzes can be taken 3 times and we recommend that participants watch the videos and practise until they feel they master the topic.

Pricing strategy is the central component in your overall profit performance. This online course prepares you to anticipate the impact certain pricing decisions will have on consumer demand and thrive in a highly competitive environment.

A smart pricing strategy is the best way to increase revenue. This course teaches you how to set prices, develop rate fences (differentiate prices by customer type), and use multiple distribution channels to manage price more effectively. You'll also learn about the impact of variable pricing and discounting on revenue management in the context of price elasticity, optimal price mix, perceived fairness, and congruence with positioning and sales strategies.

Understanding who your customers are and what they need and want is at the heart of successful marketing strategies. In this course you will explore how to identify and classify customers and the different methods that marketing professionals use to shed light on how they make purchase decisions.

Create an income statement that records the information that is critical to your specific type of restaurant Interpret your data, identify trends, and catch issues that can have a positive or negative impact on your operation Analyze your financial and performance information to identify, implement, and evaluate improvement solutions React to the advantages and disadvantages of a restaurant reservation system Analyze and identify the factors that will help you improve occupancy rates and control meal duration Develop the skills you’ll need to determine each stage of the customer’s dining experience Apply strategies to accommodate arrival patterns and manage occupancy and meal duration Provide guidance on how to implement strategies that will be most profitable Use variable-pricing approaches to develop recommendations for improving revenue

Analyze your firm’s marketing approach and make strategic decisions on how to optimize your team’s efforts

Group events, conferences and negotiated business bookings frequently account for over 50% of hotel room reservations. This course will prepare you to develop your own data-driven, systematic approach to group pricing.

In this certificate program, you’ll learn key concepts, strategies, and practical skills necessary for managing, owning, and operating a successful restaurant, bar, or other food and beverage business.

Critical challenges facing the hospitality industry’s value creation models in the twenty-first century are increasing by the ever-changing customer expectations. Traditional approaches to market dynamics, pricing or distribution do not any longer enable companies to reach the full potential and future profit level requirements. In this context, hospitality operators need to step away from old practices and start to embrace more holistic, collaborative, customer-centric and sustainable business practices. Since value in the hospitality industry is clearly co-created by the customer and the company itself, it’s evident that company must be able to capture customers’ expectations and translate them to strategies and tactics. To be able to achieve these goals, it is essential to understand how teams can align themselves throughout the organization. While there is a focus on hotels, this course is also relevant to the other sectors of the hospitality food and beverage sector, events, rentals, etc. The participants are expected to watch all the video content under each module, acquaint themselves with additional materials provided, and then take the quizzes. The quiz can be taken 3 times and we recommend that participants watch the videos and practise until they feel they master the topic.

To build a solid foundation in hotel business and management. You will learn the fundamentals of modern business practices.