Pricing Strategy
10 Questions
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Revenue Management eLearning Module Four - Pricing Strategy
Questions and Answers
- 1.One price model is the most profitable way to manage revenue at a hotel?
- A.
True
- B.
False
- 2.When we experience high demand, we are able to charge a higher rate.
- A.
True
- B.
False
- 3.Which of the following is NOT the situation is likely to have elastic demand?
- A.
New Product
- B.
Many alternatives
- C.
Few alternatives
- D.
Insignificant price
- 4.Which of the following pricing approach is the most common approach now using in hotel industry?
- A.
Single-rate pricing
- B.
Cost-based pricing
- C.
Competitive pricing
- D.
Demand-based pricing
- 5.Which of the following pricing approach is the recommended approach for LHG?
- A.
Single-rate pricing
- B.
Cost-based pricing
- C.
Competitive pricing
- D.
Demand-based pricing
- 6.Which of the following approach is not the strategy to position your pricing versus competition?
- A.
Skim
- B.
Match
- C.
Undercut
- D.
Stabilize
- E.
Penetrate
- 7.Which of the following approach is not the common selling approach? Which one below is under “Auction Model”?
- A.
Top-down approach
- B.
Bottom-up approach
- C.
Best Available Rate approach
- D.
Random approach
- 8.Which of the following approach is the recommended selling approach by LHG?
- A.
Top-down approach
- B.
Bottom-up approach
- C.
Best Available Rate approach
- D.
Random approach
- 9.Which of the following is NOT rate fence?
- A.
Control inventory
- B.
Control availability
- C.
Physical
- D.
Transaction
- 10.Which of the following is NOT the key benefits of using rate fences effectively?
- A.
Increase revenue
- B.
Increase market share
- C.
Create negative business image
- D.
Understand customers' behaviour
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