Q227
The collection of strategies and tactics firms use to scientifically manage demand for their products and services is known as
A.
Customer profitability management
B.
Cost of service delivery
C.
Segmented pricing
D.
Revenue management
AnswerAnswer: Option D
Solution
Answer: Option D
Solution:
The collection of strategies and tactics firms use to scientifically manage demand for their products and services is known as Revenue management. Revenue management is an extremely important concept within the hospitality industry, because it allows hotel owners to anticipate demand and optimise availability and pricing, in order to achieve the best possible financial results.