The main principles of Pricing and Yield reached by the critics

Your main principles on pricing and yield are in danger, under fire from customers; your commandments are being ignored by many of us, disorientated in an ultra-competitive market.

• Out of Hubris, we created ever more complex tools to forecast demand and optimise inventories, and like Doctor Frankenstein, we lost control of them.
• Out of Greed, blinded by the lure of profit, we introduced hidden handling fees, unjustified commissions and IP tracking to create a false sense of urgency and push customers to book.
• Out of Laziness, because we didn’t want to explain our now illegible pricing strategy to customers, we left it up to the OTAs, Google Flight and others to tell them when to book.
• Out of a Desire to do as he does, we have copied our neighbour and his pricing strategy, thinking that we can do as well as he does, even though our customer bases are different.
• With Luxure, we gave in to excessive promotions and increasingly restrictive general terms and conditions of sale, making the price scale too complex for the customer.
• Because we were Greedy, we didn’t put the human resources in place to manage prices, and put an extra cap on an already busy Director’s head. We let the OTAs handle our distribution instead of relying on sales forces that needed to be reinvented.
• Out of the Anger of our customers, members of parliament want to legislate and ban RM because we have let it drift rather than defending its true values.