Revenue Management: A Strategy for Increasing Sales Revenue in Small Businesses
AbstractRevenue management is a strategy used by companies in many industries to match products and services to customers in order to increase sales revenues. Although revenue management is well suited to meet some of the challenges of small businesses, there has been no prior research on its use in a small business setting. This paper presents the results from a survey of 76 small businesses on the use and effect of revenue management. The results demonstrate that revenue management is employed by small businesses and that it has a significant and positive effect on sales revenue. The results also reveal practices most commonly engaged in and the extent to which the strategy is applied by small businesses.
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