Revision – Week 10-11

Distribution Channels & Models (week 5)

What are they? Which one do we use? (glossary p319 &Slide p37-38)

Provide examples(IDS Slide p41-58)

How are they utilised? (IDS Slide p41-58,text book p105-108)

How is it effective in RM?( week What is the cost of distribution? (text

book p108-110, week 6 slide p4)

Internet usage versus Revenue management (week 10)

The affects of internet usage to RM?(Week10 slide 12-22)

Provide examples (Week10 slide 20,25)

How will you use internet to optimize revenue as a future revenue manager? (Week10 slide 23-35)

Revenue Management What is it? four disciplines (week2 p26-39)

Getting the most $ for your room(week3 p32-33) History(week3 p26-29) Applications, considerations(week3 p25,27-32,35)

Why do we use it? Forecasting(week2 p46) Maximising revenue(week3 p36) Budgeting (week2 p47)

How will you apply in the business operation?• High demand tactics(week3 p66)

• Low demand tactics(week3 p67)

Week 6 Pricing: definition (slide p14-17), factor affect

pricing(slide p17-19), price& value relationship(slide p25-28), setting price(slide p30-39)

Price parity? (slide p44) Price transparency? (slide p42) Pricing Strategies(slide p30-39,p54-58) Discuss how they may be effective? p81 Some examples (slide p45,59-60)

Ethics in Revenue Management(week 8)Money can creates legal and ethical issues and potential risk in the business.Definition Business Ethics = The principles and standard that guides

behaviour in the world of business.

What is good revenue management?(p58 - Ensuring the relationship between

Price and Value is clear to the customer - Communication with the customer - Avoiding Price Gouging - Abiding by Anti-Trust laws

Essentials for an RM System to Exist

ForecastingOverbooking strategyPricing Information system ( What are these?, Why are they

essential?)

Future of RM(week 10 p45-48)

Structure of RM, who makes up the team? Why?

(week 8 slide p70-72)

Strategic Revenue Management Process

What is Strategic revenue management (week9–p13)

Why is it important? (week9–p12) Four primary activities? (week9–p14-31) The eight fundamental steps (week9-

p37-76) Their relationship for revenue

management

Inventory management (week8)The concept of inventory management (week8–definition p12-14,21-23)Explain the importance of inventory management (week8–p14)Different types of inventory management practices for determining room availability (week8–p27-36)

Market Segments(week 4 slide26-29)

Customer knowledge text book p199-202

Different market segmentations (week 4 slide 23-24,30-38)

Strategies to attract and retain them (week4 slide 43-58)