問題一覧
1
value =
perceived benefit - price
2
the degree of excellence of something as measured against other similar things
quality
3
business exist only to create _______ for their customers
wealth
4
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
5
Limits to Differential Pricing (4)
1. imperfect knowledge 2. cannibalization 3. arbitrage 4. questions of legality or ethics
6
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
7
the specific requirements that describes who is and is not eligible for a special pricing offer
price fence
8
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
9
there is an accurate method of determining the customer's identifying characteristics
customer characteristics
10
is a source of business customers or the vehicle to communicate with source of customers
distribution channel
11
a system of selling to customers
indirect channel
12
an entity that act as a communication or a service link between buyers and sellers
intermediary
13
the practice of varying the form of the product or service and then varying price
product versioning
14
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
15
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
16
a supply that cannot be removed regardless of product demand
hard constraint
17
a supply constraint that can or woth sufficient lead time, and/or a reasonable expense, be removed
soft constraint
18
Revenue Management Process (5)
1. establish prices 2. forecast demand 3. manage inventory 4. manage distribution 5. evaluate results
19
identify how much is your expected demand
forecast demand
20
do reviews of business performance
evaluate results
21
the average selling price of guest rooms during a specific time period
Average Daily Rate
22
the average revenue generated by each available guest room during a specific period of time
Revenue per Available Room
23
an organization providing food, beverages, lodging, travel or entertainment services to people away from home.
hospitality business
24
revenue - expenses
profit
25
total amount achieved in a specified time period
revenue
26
individual or team responsible for ensuring that a company's prices match a customer's willingness to pay
revenue manager
27
a source of business customers; a vehicle used to communicate with the source of customers
channel
28
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
29
the entire set of strategies addressing the issue of value offered to customers.
revenue management
30
foundation of a successful revenue; application of data and insight to effectively match prices charged with buyers perception of value
strategic pricing
31
the amount of a buyer pays for hospitality industry seller, product/service
price
32
a pricing strategy in which a buyer must proce for the ability make additional purchases.
two-tiered pricing
33
amount of perceived benefit minus the price paid
value
34
the tendency to make buying decisions based on the belief that the act is of personal benefit
consumer rationality
35
a statement describing the goal/service to be received and the price to be paid for it
value proposition
36
the point at which the amount of a product supplied, and the amount of it demanded are in balance
equilibrium price
37
the higher the demand for a product, the more it will be produced by sellers
law of supply
38
the higher the price of a product, the less of it will be wanted by buyers
law of demand
39
3 factors affecting the purchase of a consumer
1. desire 2. ability to pay 3. willingness to pay
40
the price based to obtain the items required to operate the business
cost
41
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
42
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
43
4 characteristics of service
1. inseparability 2. intangibility 3. inventory 4. inconsistency