Welcome to KLM’s world of revenue management! In this session we show you how we determine ticket prices per flight per day. What internal and external factors we take into considerations and which tools we use to come to final ticket prices. After an introduction about pricing and inventory, we will start the case:
KLM is operating flights to Rome (Italy) since a very long time. Currently, there is one competitor on the route, which can be classified as legacy carrier and generally does not compete aggressively on price. Through a press-release KLM learns that two new entrants will enter the Amsterdam – Rome market shortly (doubling the players active in this market). Suppose you are working at the Pricing & Revenue Management team of KLM, how would you approach these developments in the market? What will be the impact of the arrival of the competitors, what will be the potential revenue for KLM at stake, and how should KLM react? The goal of this case is to come with specific and concrete actions, based on the reference data given, and using a clear line of reasoning. To finalize, a summary of the proposal will be presented by all teams and discussed within the group.
By leaving this session, you will have a completely different view on flight tickets. We hope to see you there!
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