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Competition monitoring realizes additional revenues for airlines
The demand for a flight is influenced by the available fare. Travelers evaluate the prices offered by a number of airlines on the same route. Monitoring competitor fares is therefore a routine task for all airlines in a competitive environment. This is particularly important when a simplified price structure is used which makes it easy for customers to compare prices.
Competition Monitoring is a new, innovative service offered by Lufthansa Systems. Via Internet the available prices of all airlines- both traditional and low-fare can be monitored at all times. The ProfitLine/Yield Rembrandt revenue management solution, which is especially designed for demanding and fast growing airlines, has been enhanced to monitor the fares of competitors. Competition Monitoring reads, processes and stores this data, and makes the information available to the flight analysts within ProfitLine/Yield Rembrandt.. This will allow them to react more quickly to changes of competitor prices, thereby ensuring that their own price offering is competitive at all times and that prices do not remain unnecessarily low when the competition is increasing their fares. The solution supports airlines to further strengthen their business processes and to realize significant additional revenues.
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