1. Consumer Behavior Revenue management employs analytics in order to better understand:
2. False Revenue management is a principle popularized by the hotel industry that
calculates the average revenue of available rooms per night.
3. Dynamic Pricing Ottering special deals to customers to entice them to eat out during a
restaurant's slower, weekday periods is an example of:
4. True Yield management is the process of examining and analyzing the actions of
consumers in order to set variable prices for a perishable product or service
at the maximum amount of profit.
5. False Increasing a hotel's room rate will always achieve a higher RevPAR.
6. All of the Above Controlling demand is possible through the use of "fences" which:
7. True Controls are rules or restrictions that companies develop in a pricing policy
to encourage profitable customers while discouraging unprofitable ones.
8. Adjust prices, expec- Monitoring demand provides an opportunity for the company to:
tations, and goals as
needed
9. The number of rooms The occupancy rate is:
in a hotel that have
been rented out com-
pared to the total
number of rooms
10. Dynamic pricing The concept of , fill in the blank, involves pricing items at a
level determined by ditterent customers' perceived ability or willingness to
pay.
11. How can a company forecast demand?
1/2