REVENUE MANAGEMENT QUIZZES, HM
441- RM- FINAL JMU EXAM WITH
PRACTICE QUESTIONS AND
ANSWERS||ALREADY GRADED
A+||GUARANTEED PASS||BRAND NEW
VERSION!!!!!
1. Identify which of these IS NOT a positive of using revenue management strategies and tactics:
Motivate employees
Increase revenues and profitability
Serve more guests
Increase market share - CORRECTANSWER Motivate employees
2. The Hurdle Rate is...?
The average rate for a given day
The lowest rate for a given day
The maximum rate for a given day
The highest rate for a given day - CORRECTANSWER The lowest rate for a given day
,3. A benefit of variable pricing within revenue management is the smoothing of demand
True
False - CORRECTANSWER True
4. Revenue Management can be defined as
-A set of strategies and techniques used to sell the right product, to the right customer, and at
the right time
-A set of strategies used to sell the right product, to the right customer, at the right time and the
right prices
-A set of techniques used to sell the right product, to the right customer, at the right time and
the right prices
-A set of strategies and techniques used to sell the right product, to the right customer, at the
right time, and at the right prices. - CORRECTANSWER A set of strategies and techniques used to
sell the right product, to the right customer, at the right time, and at the right prices.
5. Revenue management is a set of revenue
maximization strategies and tactics that:
-Increase profitability by carefully controlling expenses
-Focus exclusively on rate adjustments as a means to improve profitability
-Can be used to improve the profitability of certain businesses
-Can be used to improve the profitability of all businesses - CORRECTANSWER Can be used to
improve the profitability of certain businesses
6. When the American Airlines CEO developed yield management, what type of information was
crucial to its success?
, Employee wages
Fuel prices
Forecasting
Destination times - CORRECTANSWER Forecasting
7. Which of the following statements about hotel revenue management is FALSE?
-Most tactical-level revenue management actions can be controlled with a simple spreadsheet
designed by those who use it every day.
-Revenue management is new, as are all of the strategies that are employed to maximize profit.
-Most hotels have multi-tiered rate structures that they adjust based on key revenue
management variables
-The hotel industry recognizes revenue management as one of the core competencies vital to
profitability. - CORRECTANSWER Revenue management is new, as are all of the strategies that
are employed to maximize profit.
8. What is the main reason that travelers today have more clout than ever before?
-People are traveling less, which has caused a shift in the power relationship between travelers
and hotel providers.
-Hospitality employees have become more specialized, putting them at an imbalance with
travelers who have more general knowledge.
-They have information on virtually everything at their fingertips
-Revenue management techniques offer them greater flexibility in rates when comparison
shopping. - CORRECTANSWER They have information on virtually everything at their fingertips
441- RM- FINAL JMU EXAM WITH
PRACTICE QUESTIONS AND
ANSWERS||ALREADY GRADED
A+||GUARANTEED PASS||BRAND NEW
VERSION!!!!!
1. Identify which of these IS NOT a positive of using revenue management strategies and tactics:
Motivate employees
Increase revenues and profitability
Serve more guests
Increase market share - CORRECTANSWER Motivate employees
2. The Hurdle Rate is...?
The average rate for a given day
The lowest rate for a given day
The maximum rate for a given day
The highest rate for a given day - CORRECTANSWER The lowest rate for a given day
,3. A benefit of variable pricing within revenue management is the smoothing of demand
True
False - CORRECTANSWER True
4. Revenue Management can be defined as
-A set of strategies and techniques used to sell the right product, to the right customer, and at
the right time
-A set of strategies used to sell the right product, to the right customer, at the right time and the
right prices
-A set of techniques used to sell the right product, to the right customer, at the right time and
the right prices
-A set of strategies and techniques used to sell the right product, to the right customer, at the
right time, and at the right prices. - CORRECTANSWER A set of strategies and techniques used to
sell the right product, to the right customer, at the right time, and at the right prices.
5. Revenue management is a set of revenue
maximization strategies and tactics that:
-Increase profitability by carefully controlling expenses
-Focus exclusively on rate adjustments as a means to improve profitability
-Can be used to improve the profitability of certain businesses
-Can be used to improve the profitability of all businesses - CORRECTANSWER Can be used to
improve the profitability of certain businesses
6. When the American Airlines CEO developed yield management, what type of information was
crucial to its success?
, Employee wages
Fuel prices
Forecasting
Destination times - CORRECTANSWER Forecasting
7. Which of the following statements about hotel revenue management is FALSE?
-Most tactical-level revenue management actions can be controlled with a simple spreadsheet
designed by those who use it every day.
-Revenue management is new, as are all of the strategies that are employed to maximize profit.
-Most hotels have multi-tiered rate structures that they adjust based on key revenue
management variables
-The hotel industry recognizes revenue management as one of the core competencies vital to
profitability. - CORRECTANSWER Revenue management is new, as are all of the strategies that
are employed to maximize profit.
8. What is the main reason that travelers today have more clout than ever before?
-People are traveling less, which has caused a shift in the power relationship between travelers
and hotel providers.
-Hospitality employees have become more specialized, putting them at an imbalance with
travelers who have more general knowledge.
-They have information on virtually everything at their fingertips
-Revenue management techniques offer them greater flexibility in rates when comparison
shopping. - CORRECTANSWER They have information on virtually everything at their fingertips
