1/What is the role of a revenue manager to identify needs of the customer and make strategic...

Question

1/What is the role of a revenue manager to identify needs of the customer and make strategic decisions to accommodate those needs?2/How will you continue to utilize metrics to make strategic decisions for the future of your organization? Are these metrics reliable? Explain.3/The revenue manager and director of sales and marketing at a lodging property work closely together to meet their respective goals. In most cases, the goals of these two functional areas are identical. Identify two examples in which the interests of these two areas could be in conflict. Explain why it is important for the revenue manager and director of sales and marketing to work closely together.4/Explain the importance of holding regularly scheduled revenue management strategy meetings. Describe the roles and responsibilities of each member of the revenue management team identified in Chapter 5 ofRevenue Management for the Hospitality Industry.5/Discuss the value of developing a milestone timeline prior to implementing any event or idea. How can this timeline prepare all stakeholders to be successful during the implementation process? What information is important to include in a timeline of this sort?6/Is it necessary to consider overstaffing and understaffing for an idea similar to the one you are developing? Explain.7/Discuss the impact of a distressed market on revenue growth and profit maximization for a hospitality organization. Describe two short-term and long-term revenue generating strategies that management can implement to "weather the storm" during an economic downtown to minimize revenue losses.

Sanjukta · Accepted Answer

6
Marketing Management
Question 1
In general the revenue management highlights the technique that helps an organisation to achieve the highest profits by properly identifying the consumer groups that the organisation has to serve. The following are the main role of the revenue manager:
· Reflecting on the experience: It is the initial method for the revenue manager that is to reflect on their own experiences and behaviours that will be identifying the patterns of the decision-making procedure. 
· Revenue managers also tend to anticipate the needs of the consumers then they have the ability creating the content or expanding the features of the products for meeting the needs of the consumers easily 
· Observing the behaviours properly of the consumers as this will give insight to the revenue manager for understanding the actual needs of the consumers so that they can fulfil it properly (Cetin, Demirciftci and Bilgihan, 2016)
Question 2
The following are some of the ways by which the metrics can be utilized for making the strategic decisions:
· Identifying the main success factors of the metrics
· Brainstorming some of the metrics for the critical success factors
· Selecting the proper metrics 
Yes these metrics are reliable.
Question 3
It is needless to say that a revenue manager must work closely with the director of marketing and sales for driving the demand.

1/What is the role of a revenue manager to identify needs of the customer and make strategic decisions to accommodate those needs?2/How will you continue to utilize metrics to make strategic decisions...

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