Take advantage of uncertainty: Play for position as the economy rebounds

Abstract

On 6–7 October 2009, the fifth annual Revenue Management and Price Optimization conference was held at the Georgia Institute of Technology. The conference explored ways that firms are using to survive the current economic downturn and to position themselves to quickly recover as the economy rebounds. Several strategies for building a strong business case to secure funding for projects emerged from the discussions. In addition, the critical role of communication across divisions was emphasized. Strong communication helps create support for new projects, enables different divisions to focus on a common set of objectives and understand how their decisions affect key performance metrics, and facilitates the transfer of ideas and best practices. This article summarizes key discussions that emerged from the conference and highlights the experiences of three companies portrayed in keynote addresses given by Robert Cross, Chairman and CEO of Revenue Analytics; John Peyton, Senior Vice President of North American Operations at Starwood Hotels and Resorts; and Doug Bippert, Vice President of Business Acceleration at the Coca-Cola Company.