İşletme Bölümü Koleksiyonu

Permanent URI for this collectionhttps://gcris.khas.edu.tr/handle/20.500.12469/66

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Citation Count: 13
Empirical Evidence of Revenue Management in the Cruise Line Industry
(Sage Publications Inc, 2019) Ayvaz Çavdaroğlu, Nur; Gauri, Dinesh K.; Webster, Scott
Revenue management (RM) has received considerable attention from both academic and business professionals. It encompasses several techniques regarding capacity allocation pricing and resource management of fixed time-sensitive capacity. RM can be roughly divided into two categories defined by the control mechanism that increases revenue: capacity allocation or price optimization. Our work falls in the latter category. In our model we allow for partial substitutability among products (e.g. a customer making a purchase decision may consider multiple alternatives-different departure dates different destinations different cabin types). We also include marketing expense in addition to prices as a lever for increasing revenue. These features are relevant to dynamic pricing in practice. The method is illustrated with booking data from a cruise company yielding optimal advertising and prices for 300 products. The application of the model results in an increase in revenue in the range of 8%-20%.
Citation Count: 8
Revenue management with minimax regret negotiations
(Pergamon-Elsevıer Scıence Ltd, 2016) Ayvaz Çavdaroğlu, Nur; Kachani, Soulaymane; Maglaras, Costis
We study the dynamic bilateral price negotiations from the perspective of a monopolist seller. We first study the classical static problem with an added uncertainty feature. Next, we review the dynamic negotiation problem, and propose a simple deterministic "fluid" analog. The main emphasis of the paper is in analyzing the relationship of the dynamic negotiation problem and the classical revenue management problems; and expanding the formulation to the case where both the buyer and seller have limited prior information on their counterparty valuation. Our first result shows that if both the seller and buyer are bidding so as to minimize their maximum regret, then it is optimal for them to bid as if the unknown valuation distributions were uniform. Building on this result and the fluid formulation of the dynamic negotiation problem, we characterize the seller's minimum acceptable price at any given point in time. (C) 2015 Elsevier Ltd. All rights reserved.
Citation Count: 0
Using Fuzzy Set Theory in the Comparison of Customer Satisfaction Levels
(Süleyman Demirel Üniversitesi, 2019) Ayvaz Çavdaroğlu, Nur
Customer satisfaction is the key to the survival and profitability of all businesses. In the ever-changing business world, this concept has gained more importance. In particular, in industries where new firms based on new business models emerge, the traditional firms find it more difficult to compete with the new business models in terms of customer happiness. Sharing economy, which is defined as “renting non-frequently used resources (e.g. houses, cars, various commodities) in return of a certain price via digital platforms”, is one of these new concepts that have inspired new business models. A sharing economy-based company, Uber, has gained popularity in a short time. In this study, customer satisfaction levels of Uber and classical taxi firms are compared and the performance of each firm in various service dimensions is measured. Data is collected via questionnaires and analyzed using the fuzzy set theory models. According to the results, Uber performs much higher in all service dimensions with respect to the classical taxi firms. By evaluating the results from a managerial perspective, recommendations are developed for Uber and similar sharing economy-based firms, and the classical firms who want to compete with these new business models.

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