Pricing Strategy

10 Questions | Attempts: 148
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  • 1/10 Questions

    When we experience high demand, we are able to charge a higher rate.

    • True
    • False
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About This Quiz

Revenue Management eLearning Module Four - Pricing Strategy

Strategy Quizzes & Trivia

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  • 2. 

    One price model is the most profitable way to manage revenue at a hotel?

    • True

    • False

    Correct Answer
    A. False
  • 3. 

    Which of the following approach is the recommended selling approach by LHG?

    • Top-down approach

    • Bottom-up approach

    • Best Available Rate approach

    • Random approach

    Correct Answer
    A. Best Available Rate approach
  • 4. 

    Which of the following pricing approach is the most common approach now using in hotel industry?

    • Single-rate pricing

    • Cost-based pricing

    • Competitive pricing

    • Demand-based pricing

    Correct Answer
    A. Competitive pricing
  • 5. 

    Which of the following approach is not the common selling approach? Which one below is under “Auction Model”?

    • Top-down approach

    • Bottom-up approach

    • Best Available Rate approach

    • Random approach

    Correct Answer
    A. Random approach
  • 6. 

    Which of the following approach is not the strategy to position your pricing versus competition?

    • Skim

    • Match

    • Undercut

    • Stabilize

    • Penetrate

    Correct Answer
    A. Stabilize
  • 7. 

    Which of the following pricing approach is the recommended approach for LHG?

    • Single-rate pricing

    • Cost-based pricing

    • Competitive pricing

    • Demand-based pricing

    Correct Answer
    A. Demand-based pricing
  • 8. 

    Which of the following is NOT the situation is likely to have elastic demand?

    • New Product

    • Many alternatives

    • Few alternatives

    • Insignificant price

    Correct Answer
    A. Many alternatives
  • 9. 

    Which of the following is NOT rate fence?

    • Control inventory

    • Control availability

    • Physical

    • Transaction

    Correct Answer
    A. Control inventory
  • 10. 

    Which of the following is NOT the key benefits of using rate fences effectively?

    • Increase revenue

    • Increase market share

    • Create negative business image

    • Understand customers' behaviour

    Correct Answer
    A. Create negative business image

Quiz Review Timeline (Updated): Apr 4, 2014 +

Our quizzes are rigorously reviewed, monitored and continuously updated by our expert board to maintain accuracy, relevance, and timeliness.

  • Current Version
  • Apr 04, 2014
    Quiz Edited by
    ProProfs Editorial Team
  • Apr 04, 2014
    Quiz Created by
    Emily Poon
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