Revenue Management Final Exam: Questions With
Complete Solutions (100%)
The ratio that expresses how a change in the price of a product or service
affects unit demand for that product or service is called? Right Ans -
elasticity
In strategic revenue management as in strategic marketing, not everyone is a
potential customer. Why? due to... Right Ans - hotels target market
What type of internet distribution channel models lets customers name the
price they want to pay and books them into a property before revealing its
name? Right Ans - opaque model
what type of traditional market segmentation is often identified by postal
code? Right Ans - geographic
Which of the following strategic objectives of distribution channel
management is not a valid one? Right Ans - the most profitable one
what is a successful positioning strategy based on? Right Ans - a set of
competitive advantages
which of the following is not a question that any customer relationship
management (CRM) system helps to answer of interest to a revenue manager?
Right Ans - how do i forecast the best customers
hotels location as a competitive advantage ca change over time. What is not an
appropriate example? Right Ans - hotels in the heart of paris (france)
to maximize profitability by allocating sufficient inventory to the most
important segments is the objective of what? Right Ans - market mix
management
hotels are long-term capital investments. To support this sustainability, hotel
market communications needs to analyze the hotel and its competitors to
clearly communicate what? Right Ans - its competitive advantage
, The Horntooth Ranch Hotel is run by a management company that operates
several mid-range properties under many different corporate flags. What type
of management Contract Company is it? Right Ans - second-tier
The major traditional market segmentation variables are psychographic,
geographic, demographic, and behavioral traits and price-sensitivity. Which of
these considers criteria such as soical class, personality, and lifestyle? Right
Ans - psychographic
When RevPASH is low, RRM strategies to use include all of the following
except: Right Ans - overbooking
much of the data required to perform an RRM analysis can be obtained
through Right Ans - all of the above
Time-variable demand means Right Ans - different market segments use a
service at different times
if a restaurant had an overall average RevPASH of 14 and an overall seat
occupancy of 66%, its average check would be: Right Ans - 21.21
If a 210 seat restaurant is open 360 days a year for 8 hours a day and has a
total annual revenue of 6 million its revpash is? Right Ans - 9.92
For this question, consider this table: Right Ans - 54.8 & 59.1
The bottleneck activity of a service delivery system has the: Right Ans -
lowest throughput rate
The steps of an RRM program include Right Ans - all of the above
a diner has an average dining duration of 36 minutes at breakfast time
Right Ans - issuing a coupon for a late breakfast schedule
a process flow diagram Right Ans - all of the above
throughput time measures: Right Ans - the time a customer spends in the
system from enter to exit
Complete Solutions (100%)
The ratio that expresses how a change in the price of a product or service
affects unit demand for that product or service is called? Right Ans -
elasticity
In strategic revenue management as in strategic marketing, not everyone is a
potential customer. Why? due to... Right Ans - hotels target market
What type of internet distribution channel models lets customers name the
price they want to pay and books them into a property before revealing its
name? Right Ans - opaque model
what type of traditional market segmentation is often identified by postal
code? Right Ans - geographic
Which of the following strategic objectives of distribution channel
management is not a valid one? Right Ans - the most profitable one
what is a successful positioning strategy based on? Right Ans - a set of
competitive advantages
which of the following is not a question that any customer relationship
management (CRM) system helps to answer of interest to a revenue manager?
Right Ans - how do i forecast the best customers
hotels location as a competitive advantage ca change over time. What is not an
appropriate example? Right Ans - hotels in the heart of paris (france)
to maximize profitability by allocating sufficient inventory to the most
important segments is the objective of what? Right Ans - market mix
management
hotels are long-term capital investments. To support this sustainability, hotel
market communications needs to analyze the hotel and its competitors to
clearly communicate what? Right Ans - its competitive advantage
, The Horntooth Ranch Hotel is run by a management company that operates
several mid-range properties under many different corporate flags. What type
of management Contract Company is it? Right Ans - second-tier
The major traditional market segmentation variables are psychographic,
geographic, demographic, and behavioral traits and price-sensitivity. Which of
these considers criteria such as soical class, personality, and lifestyle? Right
Ans - psychographic
When RevPASH is low, RRM strategies to use include all of the following
except: Right Ans - overbooking
much of the data required to perform an RRM analysis can be obtained
through Right Ans - all of the above
Time-variable demand means Right Ans - different market segments use a
service at different times
if a restaurant had an overall average RevPASH of 14 and an overall seat
occupancy of 66%, its average check would be: Right Ans - 21.21
If a 210 seat restaurant is open 360 days a year for 8 hours a day and has a
total annual revenue of 6 million its revpash is? Right Ans - 9.92
For this question, consider this table: Right Ans - 54.8 & 59.1
The bottleneck activity of a service delivery system has the: Right Ans -
lowest throughput rate
The steps of an RRM program include Right Ans - all of the above
a diner has an average dining duration of 36 minutes at breakfast time
Right Ans - issuing a coupon for a late breakfast schedule
a process flow diagram Right Ans - all of the above
throughput time measures: Right Ans - the time a customer spends in the
system from enter to exit
