Pricing Strategy

10 Questions

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Strategy Quizzes & Trivia

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