Question

Revenue management methodology can be applied in the case of nonperishable assets.

Answer 1

Revenue management methodology can be applied in the case of nonperishable assets: True

Revenue Management is a disciplined analytics method that predicts customer behaviour at the micro-level in order to maximise revenue growth and improve product availability and price. To put it another way, the main goal is to offer the right product to the right consumer at the right moment at the right price.

Fixed expenses are a part of any business. Regardless of the volume of company activities and the related revenue, they must be paid. Income management may be helpful in this situation since it can make sure that the costs are comfortably covered by preserving a sufficient revenue stream through constantly adjusted pricing and service offers. It leads to the best possible use of the resources at hand, such as the perishable inventory of hotel rooms, to produce the most amount of profit from the business.

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