THE STUDY OF REVENUE MANAGEMENT OF RETAILERS OF FAST-MOVING CONSUMER GOODS (FMCG) PRODUCTS AND HOTEL SECTORS IN NAGPUR DISTRICT

Abstract

One critical component of high revenue streams is revenue management, as it maximizes profitability while minimizing conflict over the limited local resources. Within the hospitality sector, revenue management strategies have been thoroughly investigated, in particular with regard to the means to compare their practice at the district level with that of Fast-Moving Consumer Goods (FMCG) retailers. This research is a comparative study of revenue management strategies adopted by FMCG retailers and hotel businesses located in the Nagpur District. The study examines pricing strategies, control of inventory management of demand and supply, demand forecasting, promotion strategies, segmentation of clients, and adoption of technology by businesses and consumers. Through the use of primary data collected from the structured questionnaires on interviews and secondary data from industry reports, the comparison presents the similarity and dissimilarity in sectoral challenges. The study mulls over two distinct dissimilar viewpoints, which include the dynamic pricing and the use of more advanced forecasting tools by hotels and more input-oriented strategies involving higher volumes, supplier agreements, and high-rate inventory turnaround in FMCG trade houses. Consequently, they try to mix both as far as relevant to suggest some strategic recommendations, where cross-sector learning could be established for revenue optimization