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REC 420 Exam 1 Comprehensive
Questions with Verified Answers
Graded A100% Guaranteed
1. ADR formula plus name Answer: Average Daily Rate
- Revenue/Rooms sold
2. RevPAR Answer: Rev/ Room avaliable for sale(most exact equation)
3. GoPARR Answer: Revenue - MCE(managment controlable expenses) / Total rooms for sale
4. % Change Answer: This year - Last year / Last year
5. Occupancy Percentage Answer: Rooms Sold/ Rooms Avaliable
-Number of rooms sold during a specific time period, expressed as a % of all rooms available to sell
during that same period
6. Room Night Answer: the single night's use of a guest room
example Answer: one room sold for three consecutive nights yields three room night
7. Reference Price Answer: the price perceived by consumers to be the normal price for a
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product or service
8. Hard Constraint Answer: a supply constraint that cannot be removed regardless of a produc
demand
9. Soft Constraint Answer: a supply constraint that can, with suflcient lead time and/or
reasonable expense, be removed or lessened
10. Price Fence Answer: The specific requirements that describe who is and is not eligible for
a special pricing otter; hurdle/barrier, must be legal and should be rational
11. Consumer Surplus Answer: the ditterence between the amount a buyer would be
willing to pay for a product or service and the amount they are charged
12. Fixed Pricing Answer: the practice of a seller charging the same price to all buyers;
flat/single pricing
13. Differential Pricing Answer: the practice of a seller charging ditterent prices to
ditterent buyers for the same product of slightly ditterent versions of the same product
14. Differential Pricing Strategies Answer: 1. Customer Characteristics
2. Location
3. Time
4. Distribution
5. Product Versioning
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6. Bundling
7. Payment Terms
15. Inventory Management Answer: the process of allocating and modifying the number
of products available for sales at various prices and through various distribution channels
3/
16
REC 420 Exam 1 Comprehensive
Questions with Verified Answers
Graded A100% Guaranteed
1. ADR formula plus name Answer: Average Daily Rate
- Revenue/Rooms sold
2. RevPAR Answer: Rev/ Room avaliable for sale(most exact equation)
3. GoPARR Answer: Revenue - MCE(managment controlable expenses) / Total rooms for sale
4. % Change Answer: This year - Last year / Last year
5. Occupancy Percentage Answer: Rooms Sold/ Rooms Avaliable
-Number of rooms sold during a specific time period, expressed as a % of all rooms available to sell
during that same period
6. Room Night Answer: the single night's use of a guest room
example Answer: one room sold for three consecutive nights yields three room night
7. Reference Price Answer: the price perceived by consumers to be the normal price for a
1/
16
, Contact for any academic assistance
product or service
8. Hard Constraint Answer: a supply constraint that cannot be removed regardless of a produc
demand
9. Soft Constraint Answer: a supply constraint that can, with suflcient lead time and/or
reasonable expense, be removed or lessened
10. Price Fence Answer: The specific requirements that describe who is and is not eligible for
a special pricing otter; hurdle/barrier, must be legal and should be rational
11. Consumer Surplus Answer: the ditterence between the amount a buyer would be
willing to pay for a product or service and the amount they are charged
12. Fixed Pricing Answer: the practice of a seller charging the same price to all buyers;
flat/single pricing
13. Differential Pricing Answer: the practice of a seller charging ditterent prices to
ditterent buyers for the same product of slightly ditterent versions of the same product
14. Differential Pricing Strategies Answer: 1. Customer Characteristics
2. Location
3. Time
4. Distribution
5. Product Versioning
2/
16
, Contact for any academic assistance
6. Bundling
7. Payment Terms
15. Inventory Management Answer: the process of allocating and modifying the number
of products available for sales at various prices and through various distribution channels
3/
16
