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HFT4471 Revenue Management Exam 1 BONN Questions With 100% accurate Answers
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What are the two components of revenue management? - ANSWER-Supply: the amount of a good or service that a seller is willing and able to sell for an given price at any time. Demand: the amount of a good or service that a purchase is willing and able to buy for any given price at any given time What was the first reference to RM and what was its importance to the travel industry? - ANSWER-Taylor, CJ American Airlines, New York This work recogonizes the value of selling more airlines seats than capacity in anticipation of No Shows, we now call this overbooking Who are Tom Cook and Robert Cross? - ANSWER-Tom Cook: American Airlines Robert Cross: Delta Both have been cited as the Fathers of corporate RM
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HFT4471 Revenue Management
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