Adding value to the hospitality experience - Pricing
29 important questions on Adding value to the hospitality experience - Pricing
What allows an organisation with those strategies? (Michael Porter)
(1) What does the strategy cost leadership entail?(3 strategies)
(2) What does the strategy differentiation entail? (3 strategies)
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(3) what does the strategy focus entail? (3 strategies)
What is cost-based pricing?
What is competitive pricing?
What is customer-driven pricing? (value based pricing)
What is revenue management? (yield management)
What elements set the stage for any revenue management process?
In the process of revenue management what does the element organisation require?
The process of revenue management covers different stages and can be divides as ...?
2. Tactical
3. Operational
4. Data
In the process of revenue management what does the stage strategic cover?
In the process of revenue management what does the stage tactical cover?
In the process of revenue management what does the stage operational cover?
What is the decision-making process that makes variable prices available under variable conditions based on?
What can you achieve revenue maximisation if there is a high demand for you rooms?
How are customers segmented?
What is price sensitivity?
What is a trait of a price sensitive customer?
Why are there different prices for different people, different prices on different days etc. on what do you base that on? (slechte zin)
2. Price sensitivity
3. Varying number of customers wanting to purchase the product per pay. (different rates on different days)
What is price-elasticity of demand?
What forms the deciding criteria for guests?
What includes a competitive set?
What is skimming? (pricing approach)
What is penetration? (pricing approach)
What is surrounding? (pricing approach)
What is a hidden pricing approach?
What is a matching pricing approach?
What is an undercutting pricing approach?
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