Revenue management during times of recession

During economic downturns, demand is lower and market prices tend to decrease. However, large and non-systematic discounting can hurt a business in the short and long term. Revenue management can be helpful in coping with the adverse economic situation, as long as the company takes sufficient time to understand new markets or develop new products, finds creative ways to measure risk exposure, emphasizes transparency to customers and relies on experienced managers who can oversee the quality of automated revenue systems.