The document discusses various topics related to revenue management including distribution channels and models, the impact of internet usage on revenue management, the four disciplines of revenue management, pricing strategies and considerations, ethics in revenue management, essential elements for an RM system, the future of RM, strategic RM processes, inventory management, market segmentation, and strategies to attract and retain different customer segments.
2. Distribution Channels & Models
(week 5)
What are they? Which one do we use? (glossary p319
&際際滷 p37-38)
Provide examples(IDS 際際滷 p41-58)
How are they utilised? (IDS 際際滷 p41-58,text book p105-108)
How is it effective in RM?( week
What is the cost of distribution? (text book p108-110, week
6 slide p4)
3. Internet usage versus Revenue
management (week 10)
The affects of internet usage to RM?(Week10
slide 12-22)
Provide examples (Week10 slide 20,25)
How will you use internet to optimize revenue
as a future revenue manager? (Week10 slide
23-35)
4. Revenue Management
What is it? four disciplines (week2 p26-39)
Getting the most $ for your room (week3 p32-33)
History(week3 p26-29)
Applications, considerations (week3 p25,27-32,35)
Why do we use it?
Forecasting(week2 p46)
Maximising revenue (week3 p36)
Budgeting (week2 p47)
How will you apply in the business operation?
5. Week 6
Pricing: definition (slide p14-17), factor affect
pricing(slide p17-19), price& value relationship(slide
p25-28), setting price(slide p30-39)
Price parity? (slide p44)
Price transparency? (slide p42)
Pricing Strategies(slide p30-39,p54-58)
Discuss how they may be effective? p81
Some examples (slide p45,59-60)
6. Ethics in Revenue Management(week 8)
Money can creates legal and ethical issues and potential risk in the business.
Definition Business Ethics = The principles and standard that guides behaviour in
the world of business.
What is good revenue management?(p58
- Ensuring the relationship between Price and
Value is clear to the customer
- Communication with the customer
- Avoiding Price Gouging
- Abiding by Anti-Trust laws
7. Essentials for an RM System to Exist
Forecasting
Overbooking strategy
Pricing
Information system
( What are these?, Why are they essential?)
8. Future of RM
(week 10 p45-48)
Structure of RM, who makes up the team?
Why?
(week 8 slide p70-72)
9. Strategic Revenue Management
Process
What is Strategic revenue management
(week9p13)
Why is it important? (week9p12)
Four primary activities? (week9p14-31)
The eight fundamental steps (week9-p37-76)
Their relationship for revenue management
10. Inventory management (week8)
The concept of inventory management
(week8definition p12-14,21-23)
Explain the importance of inventory
management (week8p14)
Different types of inventory management
practices for determining room availability
(week8p27-36)
11. Market Segments(week 4 slide26-29)
Customer knowledge text book p199-
202
Different market segmentations (week
4 slide 23-24,30-38)
Strategies to attract and retain them
(week4 slide 43-58)
Editor's Notes
#5: A forecast is a prediction of happenings for a specified period. Forecasting is the most important role for a RM. We forecast so that we can: Plan your operation, Set staffing levels, Set stock level, Plan maintenance activities, Prepare cleaning schedules, Revenue management, Sales & marketing activities Who is involved? General Manager & /or EAM, Financial Controller, Department Heads ie RDM, Res, F&B, Revenue Manager, Director of Sales