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.

---

Definitions:

Order Cycle Time

The duration from when a customer places an order until the product is delivered, representing a critical aspect of supply chain efficiency.

Line Fill Rate

A metric that measures the percentage of customer orders that are fulfilled from stock available at the time of the order without backordering.

Order Cycle Time

The total time that elapses from when a customer order is placed until it is received, covering all stages of the order processing.

Line Fill Rate

A measure in supply chain management indicating the percentage of customer orders fulfilled from stock available at the time the order is placed.