BUSINESS ADMINISTRATION
OFFICE MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which of the following is/are an element of revenue management?
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Group room sales
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Transient room sales
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Food and beverage activities
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Local area wide activities
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Special events
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Explanation:
Detailed explanation-1: -Key Elements for Performing Revenue Management Effectively Constant demand. Flexible costs. Segmented customer markets. Fixed capacity.
Detailed explanation-2: -The discipline of revenue management combines data mining and operations research with strategy, understanding of customer behavior, and partnering with the sales force.
Detailed explanation-3: -This is a five stage process. The stages in this process are Data Collection, Segmentation, Forecasting, Optimization, Dynamic Re Evaluation.
There is 1 question to complete.