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Revenue Management Bundled Exams with Complete Solution | Verified Answers | 2024
Revenue Management Bundled Exams with Complete Solution | Verified Answers | 2024
[Show more]Revenue Management Bundled Exams with Complete Solution | Verified Answers | 2024
[Show more]This formula represents a buyers view of a sales transaction? - Perceived Value-Selling Price=Personal 
Profit 
Effective revenue managers use this to best develop and evaluate their organizations pricing and revenue 
management strategies and tactics. - Regular Strategy meetings 
A pricing system b...
Preview 2 out of 6 pages
Add to cartThis formula represents a buyers view of a sales transaction? - Perceived Value-Selling Price=Personal 
Profit 
Effective revenue managers use this to best develop and evaluate their organizations pricing and revenue 
management strategies and tactics. - Regular Strategy meetings 
A pricing system b...
What is the industry term used to describe the sum of prices paid by a business's customers? - Total 
Revenues 
Historically, what concept have hospitality managers chiefly used to calculate their selling prices? - 
Costs 
What is an algebraic equivalent of the formula: Sales = Costs + Profit? - Pr...
Preview 3 out of 19 pages
Add to cartWhat is the industry term used to describe the sum of prices paid by a business's customers? - Total 
Revenues 
Historically, what concept have hospitality managers chiefly used to calculate their selling prices? - 
Costs 
What is an algebraic equivalent of the formula: Sales = Costs + Profit? - Pr...
What is bigger in the tourism industry, fixed costs or variable costs? - fixed costs are bigger 
-Think of an airplane: staffing, airport fees (fixed) - huge amount of the costs for airplanes come from 
fixed costs; food, fuel (variable) - not as easy to determine the variable costs 
We can reduce p...
Preview 2 out of 9 pages
Add to cartWhat is bigger in the tourism industry, fixed costs or variable costs? - fixed costs are bigger 
-Think of an airplane: staffing, airport fees (fixed) - huge amount of the costs for airplanes come from 
fixed costs; food, fuel (variable) - not as easy to determine the variable costs 
We can reduce p...
What is the industry term used to describe the sum of prices paid by a business's customers? - total 
revenues 
Historically, what concept have hospitality managers chiefly used to calculate their selling prices? - 
costs 
What is an algebraic equivalent of the formula: Sales = Costs + Profit? - pr...
Preview 3 out of 21 pages
Add to cartWhat is the industry term used to describe the sum of prices paid by a business's customers? - total 
revenues 
Historically, what concept have hospitality managers chiefly used to calculate their selling prices? - 
costs 
What is an algebraic equivalent of the formula: Sales = Costs + Profit? - pr...
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