Join this brilliant course by Markus Kauppinen and start your new value creator career today!
How do companies respond to challenges? Are we trying to answer today’s problems with old thinking and methods just because the old methods are familiar and safe? The way that companies in the past used to create value for their customers does not function anymore. Today’s problems need diverse skills and creative thinking more than ever to optimize customer experience along with the company’s value and profits. Understanding value creation and making change happen is essential in running any business. The course will facilitate your journey in management positions.
Course mode: Self-study
Course level: Advanced
Course material: over 4 hours of video, 6 quizzes, additional reading. Estimated total study time 135 hours
Targeted to: Advanced university students of marketing and brand management, middle and senior managers in the hospitality and service sectors aiming to create or strengthen the company brand, and parties dealing with increasing long-term company value through strategic brand design.
Critical challenges facing the hospitality industry’s value creation models in the twenty-first century are increasing by the ever-changing customer expectations. Traditional approaches to market dynamics, pricing or distribution do not any longer enable companies to reach the full potential and future profit level requirements. In this context, hospitality operators need to step away from old practices and start to embrace more holistic, collaborative, customer-centric and sustainable business practices.
Since value in the hospitality industry is clearly co-created by the customer and the company itself, it’s evident that company must be able to capture customers’ expectations and translate them to strategies and tactics. To be able to achieve these goals, it is essential to understand how teams can align themselves throughout the organization. While there is a focus on hotels, this course is also relevant to the other sectors of the hospitality food and beverage sector, events, rentals, etc.
The participants are expected to watch all the video content under each module, acquaint themselves with additional materials provided, and then take the quizzes. The quiz can be taken 3 times and we recommend that participants watch the videos and practise until they feel they master the topic.
Understanding the role of ever-evolving customer expectations in the Hospitality value creation chain
Learning how pricing is not just a technical rate-setting exercise, but mastering the key drivers behind the pricing decisions
How to evaluate and use the right distribution channels to reach the right customers in the most profitable manner
Understanding how traditional Revenue Management practices have reached their limits and how the future expectations are shaping the discipline
Understanding the role of data, Customer and Business Intelligence and how it is becoming one of the key elements of any successful and profitable hospitality operation.
understanding of advanced customer segmentation and insight
knowledge of how strategic pricing and distribution choices are driving the value of the company
how Revenue Management is key for profitable business
Module 1. The Fundamentals of Hospitality
1.1 Introduction to Hospitality
1.2 Setting the scene
1.3 The expansion of hotels
1.4 Characteristics of the hotel business
Quiz – The Fundamentals of Hospitality
Module 2. Customer Segmentation in Hospitality
2.2 The purpose of customer segmentation
2.3 Types of customer segmentation in hospitality
2.4 Customer segmentation in hospitality
2.5 Customer segmentation building blocks
2.6 The value of customer segmentation
2.7 The future of customer segmentation
Quiz 2 – Customer Segmentation in Hospitality
Module 3. Strategic Pricing in Hospitality
3.2 Characteristics of hospitality
3.3 The theory of pricing
3.4 Pricing as a strategy
3.5 Types of pricing strategies
3.6 Strategic pricing
3.7 Dynamic pricing
3.8 Ethics of pricing
Quiz 3 – Strategic Pricing in Hospitality
Module 4. Distribution in Hospitality
4.2 Origins of distribution
4.3 Emergence and expansion of online travel
4.4 Customer journey and distribution
4.5 Distribution channel landscape
4.6 Hotel distribution channels – direct channels
4.7 Hotel distribution channels – indirect channels
4.8 How to measure the effectiveness of distribution
4.9 The cost of distribution
4.10 Distribution strategy building blocks
4.11 Future of hospitality distribution
Quiz 4 – Distribution in Hospitality
Module 5. Strategic Revenue Management in Hospitality
5.2 Origins of Revenue Management
5.3 What Revenue Management is?
5.4 Conditions for Revenue Management
5.5 The value of Revenue Management
5.6 Elements of Revenue Management
5.7 Total Revenue Management
5.8 Fairness of Revenue Management
5.9 Future of Revenue Management
Quiz 5 – Revenue Management in Hospitality
Module 6. Customer and Business Intelligence in Hospitality
6.2 What is Customer and Business Intelligence
6.3 Role of data in Hospitality
6.4 Big Data challenge
6.5 Leading and lagging indicators – changing viewpoint
6.6 Customer and Business Intelligence applications in Hospitality
6.7 The legal side of Business Intelligence
6.8 Future of Customer and Business Intelligence
Quiz – Customer and Business Intelligence
Why start studying now?
Creating value is a key factor in making your business profitable. How do you know the ‘right” price level of your products and services – in any changing market situation? How do you know, how much your customers are willing to pay? Are you selling products that your customers desire? How do you add value? The more your customers see perceived value in your company, the more your profit margin will grow. Learn the tricks of the trade today!
How do I purchase the course?
You may buy the course by adding it to the shopping cart on this page. You can pay with a credit card, bank transfer, or in company purchases request for an invoice. You will receive an e-mail confirmation of your order. It contains all relevant data on your purchase. If you’re ordering the course for multiple users, you will be contacted after your purchase. Credentials to each user will be sent via personal email after verification of your payment. If you make a company purchase and wish to be billed, you will be contacted. You will receive your credentials to use the course upon payment of the bill. If you have any questions or inquiries, please contact us at firstname.lastname@example.org.
How do I get access to the materials and for how long do I have to finish the course?
After we have verified your payment, you will be sent credentials for the log-in to the learning environment, where you will conduct your studies. In the learning environment, you will find all your study materials, which are available for you for 9 months. You may study at your own phase and return to study materials at any time you wish.
Welcome to the course!
Meet your course instructor
Markus has 25 + years’ work experience in highly competitive Hospitality and Travel industries, holding key positions in Sales, Revenue Management, Pricing, e-Commerce and Distribution.