Revenue Management Systems (RMS)

question 54

Multiple Choice

Revenue management systems (RMS) :

• A) consist of standard and static methods to forecast demand.
• B) rely solely on overbooking.
• C) are cost minimization models.
• D) maximize the revenue generated by a perishable asset.

Recognize various forms of mass transit and their roles in urban settings.

Explain the factors contributing to urban growth and the implications of high population density.

Understand the conditions of poverty in urban areas and the concept of dark sky preserves.

Describe the phenomenon of urban sprawl and its consequences on agriculture and ecosystems.

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Definitions:

Brand Extension

The strategy of using an existing brand name to launch a new or modified product in a different category, leveraging the brand's equity.

Reese's Peanut Butter

A popular brand known for its peanut butter cups, combining chocolate and peanut butter in a unique confectionery.

Manufacture

The process of making products on a large scale using machinery, often involving the assembly of components or raw materials.

Brand Equity

represents the value and strength of a brand, determined by consumer perception, recognition, and loyalty, which can influence its overall financial value.