Data Processing and Modeling of Dynamic Pricing of Cruise Transportation Based on Revenue Management

Ya Ru Dong; Bin Jia; Dong Fan Xie

doi:10.4028/www.scientific.net/AMR.1030-1032.1984

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HomeAdvanced Materials ResearchAdvanced Materials Research Vols. 1030-1032Data Processing and Modeling of Dynamic Pricing of...

Data Processing and Modeling of Dynamic Pricing of Cruise Transportation Based on Revenue Management

Abstract:

With increasingly fierce competition making price becomes important question relating to the cruise industry. Focusing primarily on three factors, customer arrival rate, ticketing remaining cycles and the remaining tickets, we further improve dynamic pricing method to the market in which we consider random factors and calculate by MATLAB to reflect the impact of three factors on pricing and revenue. It shows that the customer’s arrival rate and the price have the same monotonicity and the more the ticketing remaining cycles are, the lower the price is and the higher the revenue is, and so does the remaining tickets, which is accordance with the actual situation.

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Periodical:

Advanced Materials Research (Volumes 1030-1032)

Pages:

1984-1987

DOI:

https://doi.org/10.4028/www.scientific.net/AMR.1030-1032.1984

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Online since:

September 2014

Authors:

Ya Ru Dong*, Bin Jia, Dong Fan Xie

Keywords:

Cruise Transportation, Dynamic Pricing, Revenue Management

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