REVMA

43問 • 1年前

Czyra Djoanne Hojilla

通報

問題一覧

value =

perceived benefit - price

the degree of excellence of something as measured against other similar things

quality

business exist only to create _______ for their customers

wealth

the practice of a seller charging different prices to different buyers for the same product or slightly different versions of the same product

differential pricing

Limits to Differential Pricing (4)

1. imperfect knowledge 2. cannibalization 3. arbitrage 4. questions of legality or ethics

the nearly simultaneous purchase of a product at a lower price and reselling of it at a higher price with the intention of keeping the difference in price

arbitrage

the specific requirements that describes who is and is not eligible for a special pricing offer

price fence

Factors Affecting Differential Pricing (8)

1. customer characteristics 2. location 3. time 4. quantity 5. distribution channel 6. product versioning 7. bundling 8. payment terms

there is an accurate method of determining the customer's identifying characteristics

customer characteristics

is a source of business customers or the vehicle to communicate with source of customers

distribution channel

a system of selling to customers

indirect channel

an entity that act as a communication or a service link between buyers and sellers

intermediary

the practice of varying the form of the product or service and then varying price

product versioning

combining individual products or service into groupings that are sold for a single price, usually lower yhsn the sum of the prices changed in the same included items were purchased individually

bundling

condition that exists when sellers cannot readily increase the amount of products or services available for sale when consumer demand for the increase

constrained supply

a supply that cannot be removed regardless of product demand

hard constraint

a supply constraint that can or woth sufficient lead time, and/or a reasonable expense, be removed

soft constraint

Revenue Management Process (5)

1. establish prices 2. forecast demand 3. manage inventory 4. manage distribution 5. evaluate results

identify how much is your expected demand

forecast demand

do reviews of business performance

evaluate results

the average selling price of guest rooms during a specific time period

Average Daily Rate

the average revenue generated by each available guest room during a specific period of time

Revenue per Available Room

an organization providing food, beverages, lodging, travel or entertainment services to people away from home.

hospitality business

revenue - expenses

profit

total amount achieved in a specified time period

revenue

individual or team responsible for ensuring that a company's prices match a customer's willingness to pay

revenue manager

a source of business customers; a vehicle used to communicate with the source of customers

channel

Understanding the Revenue Management (3)

1. understand the importance of revenue management 2. understand the many complex factors that influence revenue management strategies and tactics 3. become better at making revenue management decisions than their competitors

the entire set of strategies addressing the issue of value offered to customers.

revenue management

foundation of a successful revenue; application of data and insight to effectively match prices charged with buyers perception of value

strategic pricing

the amount of a buyer pays for hospitality industry seller, product/service

price

a pricing strategy in which a buyer must proce for the ability make additional purchases.

two-tiered pricing

amount of perceived benefit minus the price paid

value

the tendency to make buying decisions based on the belief that the act is of personal benefit

consumer rationality

a statement describing the goal/service to be received and the price to be paid for it

value proposition

the point at which the amount of a product supplied, and the amount of it demanded are in balance

equilibrium price

the higher the demand for a product, the more it will be produced by sellers

law of supply

the higher the price of a product, the less of it will be wanted by buyers

law of demand

3 factors affecting the purchase of a consumer

1. desire 2. ability to pay 3. willingness to pay

the price based to obtain the items required to operate the business

cost

a pricing philosophy that involves summing product or service cost incured with the desire profit to arrive at an items selling price

cost based pricing

3 items to remember as a revenue manager

1. prices act as signals to buyers and sellers 2. prices encouraged efficient production 3. prices helped ration-scarce resources

4 characteristics of service

1. inseparability 2. intangibility 3. inventory 4. inconsistency

CONTEMPORARY LESSON 1 & 2

Czyra Djoanne Hojilla · 30問 · 1年前

CONTEMPORARY LESSON 1 & 2

30問 • 1年前

Czyra Djoanne Hojilla

CONTEMPORARY LESSON 3

Czyra Djoanne Hojilla · 32問 · 1年前

CONTEMPORARY LESSON 3

32問 • 1年前

Czyra Djoanne Hojilla

CONTEMPORARY 4-5

Czyra Djoanne Hojilla · 18問 · 1年前

CONTEMPORARY 4-5

18問 • 1年前

Czyra Djoanne Hojilla

HR in Tourism and Hospitality

Czyra Djoanne Hojilla · 23問 · 1年前

HR in Tourism and Hospitality

23問 • 1年前

Czyra Djoanne Hojilla

Czyra Djoanne Hojilla · 27問 · 1年前

27問 • 1年前

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SERVICE QUALITY FINAL EXAM

Czyra Djoanne Hojilla · 42問 · 1年前

SERVICE QUALITY FINAL EXAM

42問 • 1年前

Czyra Djoanne Hojilla

問題一覧

value =

perceived benefit - price

the degree of excellence of something as measured against other similar things

quality

business exist only to create _______ for their customers

wealth

the practice of a seller charging different prices to different buyers for the same product or slightly different versions of the same product

differential pricing

Limits to Differential Pricing (4)

1. imperfect knowledge 2. cannibalization 3. arbitrage 4. questions of legality or ethics

the nearly simultaneous purchase of a product at a lower price and reselling of it at a higher price with the intention of keeping the difference in price

arbitrage

the specific requirements that describes who is and is not eligible for a special pricing offer

price fence

Factors Affecting Differential Pricing (8)

1. customer characteristics 2. location 3. time 4. quantity 5. distribution channel 6. product versioning 7. bundling 8. payment terms

there is an accurate method of determining the customer's identifying characteristics

customer characteristics

is a source of business customers or the vehicle to communicate with source of customers

distribution channel

a system of selling to customers

indirect channel

an entity that act as a communication or a service link between buyers and sellers

intermediary

the practice of varying the form of the product or service and then varying price

product versioning

combining individual products or service into groupings that are sold for a single price, usually lower yhsn the sum of the prices changed in the same included items were purchased individually

bundling

condition that exists when sellers cannot readily increase the amount of products or services available for sale when consumer demand for the increase

constrained supply

a supply that cannot be removed regardless of product demand

hard constraint

a supply constraint that can or woth sufficient lead time, and/or a reasonable expense, be removed

soft constraint

Revenue Management Process (5)

1. establish prices 2. forecast demand 3. manage inventory 4. manage distribution 5. evaluate results

identify how much is your expected demand

forecast demand

do reviews of business performance

evaluate results

the average selling price of guest rooms during a specific time period

Average Daily Rate

the average revenue generated by each available guest room during a specific period of time

Revenue per Available Room

an organization providing food, beverages, lodging, travel or entertainment services to people away from home.

hospitality business

revenue - expenses

profit

total amount achieved in a specified time period

revenue

individual or team responsible for ensuring that a company's prices match a customer's willingness to pay

revenue manager

a source of business customers; a vehicle used to communicate with the source of customers

channel

Understanding the Revenue Management (3)

the entire set of strategies addressing the issue of value offered to customers.

revenue management

foundation of a successful revenue; application of data and insight to effectively match prices charged with buyers perception of value

strategic pricing

the amount of a buyer pays for hospitality industry seller, product/service

price

a pricing strategy in which a buyer must proce for the ability make additional purchases.

two-tiered pricing

amount of perceived benefit minus the price paid

value

the tendency to make buying decisions based on the belief that the act is of personal benefit

consumer rationality

a statement describing the goal/service to be received and the price to be paid for it

value proposition

the point at which the amount of a product supplied, and the amount of it demanded are in balance

equilibrium price

the higher the demand for a product, the more it will be produced by sellers

law of supply

the higher the price of a product, the less of it will be wanted by buyers

law of demand

3 factors affecting the purchase of a consumer

1. desire 2. ability to pay 3. willingness to pay

the price based to obtain the items required to operate the business

cost

a pricing philosophy that involves summing product or service cost incured with the desire profit to arrive at an items selling price

cost based pricing

3 items to remember as a revenue manager

1. prices act as signals to buyers and sellers 2. prices encouraged efficient production 3. prices helped ration-scarce resources

4 characteristics of service

1. inseparability 2. intangibility 3. inventory 4. inconsistency