PurposeThe primary aim of Revenue Management is selling the right product to the right customer at the right time for the right price. Ever since the deregulation of US airline industry, and the emergence of the internet as a distribution channel, Revenue Management has come of age. The authors of this paper, taking an historical perspective mapping out ten turning points in the evolution of Revenue Management.Design/methodology/approachThe paper is a chronological account based upon published research and literature fundamentally drawn from the Journal of Revenue and Pricing ManagementFindingsThe significance and success to Revenue Management is attributed to the following turning points: Littlewoods rule, Expected Marginal Seat Revenue (EMSR), deregulation of the US air industry, single leg to origin and destination (O&D) Revenue Management, the use of family fares, technological advancement, low cost carriers, dynamic pricing, consumer and price transparency, and pricing capabilities in organisations.Originality/valueThe originality of the paper lies in identifying the core trends or turning points that have shaped the development of Revenue Management thus assisting futurists or forecasters under the past in order to shape the future.
- Revenue Management
- Technological Advancement