BHM208: Revenue Management Case Analysis and Group report

Assessment brief:

The following assessment is comprised of:

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A review of the business from the first assignment, considering the recommendations from the feedback.

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A discussion of the possible target markets using theory and concepts of Revenue Management. Including a review of the demand, the unit of measurement of the main component of inventory, and the potential periods where the business can be improved.

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A discussion of the methods of data collection and staff and management accountabilities.

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The development of a Revenue management strategy, incorporating and explaining each of the components, why and how they are being used.

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Factors to be considered include, but are not limited to, the market segments being targeted, the elasticity of demand in those segments, how capacity is optimised (including the layout of the business), shifting of demand, pricing, bundling and discount strategy, rate fences and perceived fairness. In determining total customer value factors to consider should include length of stay and other purchases.

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Additionally, recommendations to improve the revenue should give consideration to layout, offerings, and bundling of product and services.

The following assessment is comprised of:

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An Introduction of the aim of the report

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Introduction and Business description from Assignment 1

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Analysis of the market, strategies, information collection, and accountabilities

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Conclusion

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References, (including in text) – Using Harvard Referencing