HFT4468 Revenue Management Final Exam/
100 Quizzes with Definitive Solutions.
Which of the following is not a hotel intermediary? - Answer: Front desk agents
Which travel industry-related business group developed the Global Distribution System? -
Answer: The airline industry
What was the original purpose of THISCO? - Answer: To develop a single GDS connection for
major hotel companies
Why can foodservice operators sell a 20 year Scotch at a price higher than a one year old
Scotch? - Answer: The quality of a 20 year old Scotch is higher than a one year old scotch
Assume a food and beverage operator offers guests a 20-year old Scotch at a price five times the
amount charged for one-year old Scotch. Assume also that the operator's customers very rarely
purchase the more expensive Scotch. Which statement would explain why the 20 year old
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, Scotch does not sell well? - Answer: Customers do not accept this seller's price-value
proposition.
Arthur's restaurant is extremely busy on Friday and Saturday. The manager of the operation
offers reduced prices on quick-to-prepare and quick-to-serve menu items on those two nights.
What revenue related factor is this restaurant manager seeking to positively influence? -
Answer: capacity
Poco Miller's restaurant has 130 seats. Last night Poco served 295 guests. What was is the
formula Poco would use to calculate her table turns? - Answer: = table turns
Why should revenue managers monitor their competitors' prices? - Answer: to keep their own
prices on the higher end of their competitor's price ranges
Which value-related factor does a revenue manager seek to impact if prices for carry-out menu
items in a restaurant are 10% less than the price of the same items when they are consumed in
that restaurant's dining room? - Answer: service level
Offering the same menu item in a variety of portion sizes is an example of what type of
differential pricing strategy? - Answer: product versioning
Last night Lara's restaurant served 225 guests and achieved total revenue of $4,500. What was
Lara's check average last night? - Answer: $20.00
What foodservice value-related factor is most affected when a revenue manager successfully
implements a price blending strategy? - Answer: menu mix
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100 Quizzes with Definitive Solutions.
Which of the following is not a hotel intermediary? - Answer: Front desk agents
Which travel industry-related business group developed the Global Distribution System? -
Answer: The airline industry
What was the original purpose of THISCO? - Answer: To develop a single GDS connection for
major hotel companies
Why can foodservice operators sell a 20 year Scotch at a price higher than a one year old
Scotch? - Answer: The quality of a 20 year old Scotch is higher than a one year old scotch
Assume a food and beverage operator offers guests a 20-year old Scotch at a price five times the
amount charged for one-year old Scotch. Assume also that the operator's customers very rarely
purchase the more expensive Scotch. Which statement would explain why the 20 year old
Page 1 of 14
, Scotch does not sell well? - Answer: Customers do not accept this seller's price-value
proposition.
Arthur's restaurant is extremely busy on Friday and Saturday. The manager of the operation
offers reduced prices on quick-to-prepare and quick-to-serve menu items on those two nights.
What revenue related factor is this restaurant manager seeking to positively influence? -
Answer: capacity
Poco Miller's restaurant has 130 seats. Last night Poco served 295 guests. What was is the
formula Poco would use to calculate her table turns? - Answer: = table turns
Why should revenue managers monitor their competitors' prices? - Answer: to keep their own
prices on the higher end of their competitor's price ranges
Which value-related factor does a revenue manager seek to impact if prices for carry-out menu
items in a restaurant are 10% less than the price of the same items when they are consumed in
that restaurant's dining room? - Answer: service level
Offering the same menu item in a variety of portion sizes is an example of what type of
differential pricing strategy? - Answer: product versioning
Last night Lara's restaurant served 225 guests and achieved total revenue of $4,500. What was
Lara's check average last night? - Answer: $20.00
What foodservice value-related factor is most affected when a revenue manager successfully
implements a price blending strategy? - Answer: menu mix
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