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REVENUE MANAGEMENT FINAL EXAM ACTUAL
EXAM 2025 | ALL QUESTIONS AND CORRECT
ANSWERS | LATEST EDITION 2025
Which statement about revenue management in the hospitality industry is true? -
(answer)it is best understood by experienced hospitality managers
What is value-based pricing? - (answer)A pricing system based upon a buyer's
view of product or service value
All except one of the following pricing systems are marketing-based. Which one is
not an example of marketing-based pricing? - (answer)Return on Investment (ROI)
pricing
What is the term used to describe a pricing system in which all customers are
charged the same price at all times? - (answer)Fixed pricing
What is true for franchised hotel operations in the United States? - (answer)Their
prices are established by their franchiser
What is the economic term used to describe the difference between what a
consumer is charged for a product or service and the price that consumer would
willingly pay for it? - (answer)Consumer Surplus
What is the relationship between differential pricing and consumer surplus? -
(answer)Differential pricing is a strategy used by sellers to minimize consumer
surplus
REVENUE MANAGEMENT FINAL EXAM ACTUAL
EXAM 2025 | ALL QUESTIONS AND CORRECT
ANSWERS | LATEST EDITION 2025
Which statement about revenue management in the hospitality industry is true? -
(answer)it is best understood by experienced hospitality managers
What is value-based pricing? - (answer)A pricing system based upon a buyer's
view of product or service value
All except one of the following pricing systems are marketing-based. Which one is
not an example of marketing-based pricing? - (answer)Return on Investment (ROI)
pricing
What is the term used to describe a pricing system in which all customers are
charged the same price at all times? - (answer)Fixed pricing
What is true for franchised hotel operations in the United States? - (answer)Their
prices are established by their franchiser
What is the economic term used to describe the difference between what a
consumer is charged for a product or service and the price that consumer would
willingly pay for it? - (answer)Consumer Surplus
What is the relationship between differential pricing and consumer surplus? -
(answer)Differential pricing is a strategy used by sellers to minimize consumer
surplus
