Hotels Try to Price Rooms to Maximize Resources by Quickly

question 36

Multiple Choice

Hotels try to price rooms to maximize resources by quickly adapting to changes in demand. Part of this involves anticipating consumer behavior and calculating a number of different factors, including demand for rooms at a particular time period, likely length of stay, types of rooms likely to be requested, etc. It wants to be able to sell rooms at the right price to the right people. This pricing strategy is an example of

• A) yield management.
• B) penetration pricing.
• C) price skimming.
• D) differential pricing.
• E) special-event pricing.

Define a learning organization according to David A. Garvin.

Identify the key determinants of organizational effectiveness.

Describe the three organizational subsystems within the open-system model.

Understand the impact of shared values on organization strength and culture.

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Definitions:

Visual Techniques

Methods or strategies used in communication and presentations that involve the use of visual aids, such as charts, diagrams, pictures, to enhance the understanding or appeal of the message.

Advertising Schedule

A plan that outlines when and where advertisements will be displayed or broadcast to maximize visibility and effectiveness.

Media Planning

The process of evaluating and selecting the media mix that will deliver a clear, consistent, compelling message to the intended audience.

Media Mix

The combination of different types of media (digital, print, TV, etc.) used in a marketing strategy to reach the target audience.