The recent pervasive adoption of modern IT in the marketplace has profoundly changed information availability to consumers and firms. This improved information endowment results in changes in consumer behavior and corporate strategy. Better informed consumers know exactly what is available to them with the precise service attributes and prices. And they are able to find exactly what they want and are willing to to pay premium prices to obtain products and services with perfect fit for them. As a result, firms are increasingly introducing new product portfolios and designing more diverse and even more precisely-targeted service offerings to what the consumers truly want. This latest development has provided firms with the opportunity to better determine a customer-centric strategy than ever before. The purpose of this research is to improve the understanding of the role of information in making revenue management decisions. (Author/publisher)
Samenvatting