How pricing and revenue management strategies impact business models: Success or failure?
The success of any business depends on its pricing strategy and how it manages revenue. Businesses must know how to manage their revenue and pricing strategies effectively in order to be successful. This paper will examine a high-performing business model that relies on revenue management and innovative pricing strategies. It also discusses an unsuccessful model which failed to manage revenue and major pricing problems. These models are analyzed in order to draw lessons on managing pricing and revenue. This paper also examines the effects of COVID-19 on both these models. Amazon.com, a business model that is based on creative pricing and revenue management strategies, has been a great success. Amazon.com revolutionized how people shop (Saini 2022). Amazon.com can offer its customers affordable prices by using dynamic pricing (Rodrigues 2022). Cont…
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