Questions:) Flashcards
1
Q
What is the link between market segment and RM
A
- Maximise profit / revenue
- Needs to understand market segment better
- Apply right strategy / approach according to their needs
2
Q
What is revenue management to the company ?
A
The technique of planning to maximize room rates at the most profitable price
3
Q
Define Revenue Management
A
RM is to maximise revenue by selling the right product to the right customer at the right time at the right price at the right channel
4
Q
What is revenue management to the customers?
A
Revenue management to the customer is delivering the greatest value to them
