"In today's rapidly changing market, understanding the nuances of pricing and revenue management is necessary," says Priti Dhanda, a commercial growth leader with a decade-long track record of driving profitable revenue growth across industries.
Dhanda's insights into pricing and commercial strategy have become invaluable in an industry where every penny counts. With the global revenue management market expected to reach $28 billion by 2025, her ideas are more relevant than ever.
A Journey of Transformation
Priti Dhanda's journey began in the bustling streets of Delhi, where she consulted for PricewaterhouseCoopers, serving clients across diverse sectors from Telecom to Retail. Her pricing strategy and revenue optimization expertise was honed at the University of Virginia's Darden School of Business and the Indian Institute of Technology Delhi.
Fast forward to 2022-2023, Dhanda has been making waves in the world of tech startups as she drives pricing and packaging initiatives at companies like Zapier and Navan. Dhanda's
strategic vision and ability to align pricing strategies with business goals have earned her a reputation as a trailblazer in the industry, solidifying her position as a driving force behind these tech startups' success.
"Pricing isn't just about numbers. It's about understanding the market, the competition, and most importantly, the customer," Dhanda remarks. Her expertise in understanding customer behaviors and preferences allows her to offer tailored pricing options, maximizing customer value and ultimately driving growth. With her extensive experience in identifying market opportunities and crafting innovative pricing models, Dhanda is revolutionizing how these hyper-growth startups position their products and services in highly competitive markets.
Challenging the Status Quo
However, critics have voiced their opinions. "While Dhanda's strategies are innovative, the market is constantly changing. What works today might not work tomorrow," notes a senior analyst. Some industry experts point out that while data-driven strategies are important, they must be balanced with a deep understanding of market dynamics.
Dhanda acknowledges the challenges but remains unfazed. "It's true that the market is dynamic. That's why our strategies are not set in stone. We constantly evolve, adapt, and innovate," she retorts.
The Role of Strategic Pricing in a Post-Covid World
The travel and hospitality industry faced unparalleled challenges due to the COVID-19 pandemic, with international tourist arrivals witnessing a significant drop and leading to a substantial loss in export revenues. This downturn highlighted the need for businesses in the sector to demonstrate agility and adaptability.
Recognizing these challenges as opportunities, Dhanda developed commercial strategy initiatives as Vice President of Revenue Management at Encore Global. This laid the groundwork for the organization's pricing philosophy and a forward-looking five-year roadmap.
In response to the pandemic's disruptions, Dhanda emphasized the need for businesses to pivot, adapt, and reinvent. "We had to think outside the box, be agile, and above all, remain resilient," she states.
Her proactive approach led to several transformational initiatives centered around Pricing, Discounting, and Sales Effectiveness, culminating in a notable top-line impact.
Dhanda's insights extend beyond mere numbers. She highlights the intricate role of strategic discounting in the hospitality realm. Rather than resorting to hasty price cuts, her method is deliberate and informed.
Dhanda emphasizes that discounting is more than slashing prices; it's about understanding consumer psychology and preserving the brand's value. She proposes dynamic pricing, a strategy that adjusts in real-time based on demand, to ensure market agility and maximize profitability during peak times.
"This approach allows us to anticipate and adapt to market shifts," she notes. At the center of her strategy is an acute understanding of the customer's perspective, aiming to provide value and meet the changing preferences of modern travelers.
Dhanda's Insights on Revenue Adaptability
"Revenue management offers no shortcuts. It's a combination of data, strategy, and intuition. And as the market evolves, so do we," she concludes.
Dhanda's forward-thinking methodologies are both reactive to current market trends and predictive of future shifts, ensuring businesses stay ahead. By integrating emerging technologies and analytics, she envisions a revenue management landscape that's both resilient and responsive to global economic changes.
