Revenue Management Quiz

What is the purpose of market alerts in revenue management?

• To evaluate employee performance

• To provide timely information on market changes

• To monitor competitors' social media

• To track customer preferences

What is the main difference between yield management and revenue management?

• Revenue management is only for hotels

• Yield management is concerned with room prices

• Revenue management deals with room prices

• Yield management focuses on overall operations

What is the vital concept used by most business industries including the hotel industry?

• Cost reduction
• Customer satisfaction
• Revenue Management

• Market expansion

What type of Revenue Management Software monitors and evaluates several key metrics that are

significant to the business from time to time, so that top management could

make adjustments or decisions based on timely and precise data?

• Real-Time Revenue Management Metrics

• Market Alerts

• Competitor Rate Monitoring

What type of Revenue Management Software is hard to manually keep track of the market competition because it would take up all your time?

• Real-Time Revenue Management Metrics

• Market Alerts

• Competitor Rate Monitoring

What type of Revenue Management Software is it when you need to have timely alerts or information regarding market changes, and it is a known fact that market status can change from time to time, that is why there is a need to keep an eye on it for your plan to be as effective as possible?

• Real-Time Revenue Management Metrics

• Market Alerts

• Competitor Rate Monitoring

What hotel pricing strategy is used when the hoteliers level their prices based on their

competitors’ prices?

• Competitive Pricing Strategy

• Middle Market Pricing Strategy

• Value-Added Pricing Strategy

• Discount Pricing Strategy

What hotel pricing strategy is used when hotels are pricing their high-end and luxurious rooms

around the same rate as their average rooms?

• Competitive Pricing Strategy

• Middle Market Pricing Strategy

• Value-Added Pricing Strategy

• Discount Pricing Strategy

What hotel pricing strategy is used when hotels tends to offer higher room rates to luxurious rooms but offers additional services and freebies on the basic package?

• Competitive Pricing Strategy

• Middle Market Pricing Strategy

• Value-Added Pricing Strategy

• Discount Pricing Strategy

What hotel pricing strategy is used in hotels wherein the hotel offer low rates and additional freebies to encourage guests to avail services and usually used in low peak seasons?

• Competitive Pricing Strategy

• Middle Market Pricing Strategy

• Value-Added Pricing Strategy

• Discount Pricing Strategy