Example test Revenue Management Stenden - Year 2 - Module Design
Institution
NHL Stenden Hogeschool (NHL)
Dit document bevat een samenvatting van alle lectures en workshops die je had moeten bijwonen. Hier in staat ook nog extra informatie die is gegeven door de leraren. Deze samenvatting is zeer handig voor het leren en maken van je revenue management test.
Example test Revenue Management Stenden - Year 2 - Module Design
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Revenue management Lecture 1
What skills are imperative for a revenue manager?
- Analytical ability
- Understand your costs
- Understand the revenue man’t system
- Accurately forecast
- Commercial acumen
- Impact of marketing/sales
- Communication
- Leadership
- Calculated risk taker
- Drive for success
What you already should know
- What is the history of revenue management
- How to calculate yield%, what rate categories do you think of?
- What is the revenue per available room?
- What are the conditions for implementing revenue management?
- What market segments can you identify?
- On what characteristics can you segment?
- What revenue management techniques can you apply in a period of low demand
- How to make the best decision in order to maximize profit?
History of revenue management Deregulation 1978
, Conditions for effective revenue management
- Perishable goods
- High fixed cost
- Low variable cost
- Limited and fixed capacity/inventory
- Time critical – large fluctuation in demand
- Highly segmented
What is the average profit margin in the hospitality industry?
- 0% - 10%
- 10% - 20%
- 20% - 30%
- 30% - 40%
Price elasticity of demand:
The absolute value of percentage change in the quantity of a good demanded
Devided by percentage change in the price of that good (product or service)
PXQ = REVENUE
Customers can be segmented by (regular segmentation methods (geographical,
psychological, etc)
- Who do they travel
- When do they travel
- When do they book
- Where do they book
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