Speaking at the World Low Cost Airlines Congress 2012 Hugh Dunleavy, Commercial Director of Malaysia Airlines discussed how LCC's can prevent stagnation by using a dynamic and evolving revenue management model.
Hugh outlined that the very first steps of doing this is to create a robust value proposition, this is key to making sure the consumer feels that they didn't get â€˜ripped-off' by the airline. To do this he suggested you need to:
- Advertise & market appropriately – this reduces price sensitivity
- Understand what your consumers are willing to pay
- Forecast demand at the segment and O&D level
- Establish an entry level base fare
This is one of the many key topics and challenges we will be discussing at this years World Low Cost Airlines.
Why not join us at the World Low Cost Airlines Congress 2013? To find out more about the event, please download the brochure here >