revenue management exam 2 Questions With the Best Graded Solutions

revenue management is applicable under the following conditions (3) - ANSWER-1. seller is selling a fixed stock of perishable capacity 2. customers book capacity prior to departure 3. seller manages a set of fare classes (room nights), each of with has a fixed price (in short run) 3 levels of revenue management decisions - ANSWER-strategic, tactical, booking control strategic revenue management description and frequency - ANSWER-identify market segment, quarterly or annually tactical revenue management description and frequency - ANSWER-calculate and update booking limits, daily or weekly booking control revenue management description and frequency - ANSWER-determine which bookings to accept and which to reject, real time booking control definition - ANSWER-simple, mechanical process of which booking request should be accepted and which should be rejected