A new model for optimal design in e-ticket pricing in airline industry
AbstractE-commerce companies are grappling with complex work in determining the appropriate price for product or service. The product pricing, in accordance with existing limitations and different methods to determine the cost of product, has been the center of attention. Revenue management has been defined as selling the right product to the right customer in suitable time. On the one hand, sellers tend to sell their products to purchasers of high value and on the other hand if they wait long for their valued customers, sales period may be end up with unsold units that can be sold to customers with low value. In airline industries are considered as this type of product, because if the aircraft flies, with seat vacant, the cost cannot be undone. In this study, a series of data are performed as airline industry always performs data for ticket sales. A mathematical model is then designed to perform the same data. The results revealed that the company's overall revenue and profit, has increased.