Revenue management requires management to deal with:a) multiple pricing structures.b) changes in demand.c) fo recasts of use.d) forecasts of duration of use.c) all of the above
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| Revenue management requires management to deal with: a) multiple pricing structures. b) changes in demand. c) fo recasts of use. d) c) all of the above |
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- 1) Grand Styles Furniture Store is overstocked in (has excess inventory of) one type of chair. Based on the Price-Demand Relationship, what advice would you provide to the store manager to deal with this problem? Please use no more than 2 bullet points for your answer. 2) Fancy Fashions sells jeans for $59 and sweaters for $39, To increase sales of jeans and sweaters, Fancy Fashions promotes this Product Price Bundle: "Buy a pair of jeans and a sweater for $98'. Will this Product Price Bundle will work well to increase the sales of jeans and sweaters? Explain your answer In no more than 2 bullet points. 3) What Is the man (most Important) way that Cost-Based Pricing is different from Customer Value-Based Pricing? Please use no more than 2 bullet points for your answer. 4) Would the cost of coffee beans purchased by McDonald's be a Fixed Cost or a Variable Cost? Please use no more than 2 bullet points for your answer.Knowing how to use the ABC analysis, make up a list of 10 items in a stores inventory, then decide which 10 items sold at the store would constitute 80% of the revenue and create a Word document using the ABC analysis.k of PDF : https://docdro.id/psUSO2n https://docdro.id/KV8USNQ question : 1/ According to Weele, the items that we measure determines the role of the purchasing function. List these roles, and show the mapping. 2/ According to Simpson and et.al, why should we measure the performance of our suppliers? 3/ According to Simpson and et. al, what are the characteristics of our suppliers should we measure? List these down in terms of evaluative criteria and its details.
- Chose the best choice. a. Restaurannts and fasst foood chains typically use fixed (menu) pricing. b. Let’s assumme that a computer hardware assembled by James runs a Microsoft operatinng system software. Then, the hardware and software pair could be viewed as an example of complementary products. c. Assumme a drone manufacturer (DM) makes and sells drones to customers directly with no intermediary involved. Then DM’s revenue model for such transactions can be characterizzed as a production-based model. d. a, b and c, are all true statements. e. a and b are true, but c is false.Maya is setting prices for her home remodeling business. Over the course of the year, there are times of peak activities—such as pre-holidays—and times when consumers were not as interested in home remodeling. This is an issue throughout the industry, so she knows it isn’t just her business. After she determines a base price for the service, she could stimulate demand during the slow periods by using a. premium pricing b. no-cost consultations c. bundling d. discountsAs with other products, Fisher-Price faces the decision of how many Weather Teddy units to order for the comingholiday season. Members of the management team suggested order quantities of 15,000, 18,000, 24,000, or28,000 units. The wide range of order quantities suggested indicates considerable disagreement concerning themarket potential. The product management team asks you for an analysis of the stock-out probabilities forvarious order quantities, an estimate of the profit potential, and to help make an order quantity recommendation.Fisher-Price expects to sell Weather Teddy for $24 based on a cost of $16 per unit. If inventory remains afterthe holiday season, Fisher-Price will sell all surplus inventory for $5 per unit. After reviewing the sales historyof similar products, Fisher-Price’s senior sales forecaster predicted an expected demand of 20,000 units with a.95 probability that demand would be between 10,000 units and 30,000 units. Compute the probability of a stock-out for the…
- As with other products, Fisher-Price faces the decision of how many Weather Teddy units to order for the comingholiday season. Members of the management team suggested order quantities of 15,000, 18,000, 24,000, or28,000 units. The wide range of order quantities suggested indicates considerable disagreement concerning themarket potential. The product management team asks you for an analysis of the stock-out probabilities forvarious order quantities, an estimate of the profit potential, and to help make an order quantity recommendation.Fisher-Price expects to sell Weather Teddy for $24 based on a cost of $16 per unit. If inventory remains afterthe holiday season, Fisher-Price will sell all surplus inventory for $5 per unit. After reviewing the sales historyof similar products, Fisher-Price’s senior sales forecaster predicted an expected demand of 20,000 units with a.95 probability that demand would be between 10,000 units and 30,000 units. Question: One of Fisher-Price’s managers felt…33- Which one of the following is a reason for a stock out situation for a retailer? a. Consumer demand remains unchanged b. Price of the product increases c. More lead time taken by the supplier d. There is buffer stock with the retailerIn your own words, describe how you will use STAR reports to make decisions about room pricing and revenue management.
- Suthar Timber Merchants in Patiala, India, features a large selection of building supplies,including timber, fencing and decking, moldings, hardwood flooring, sheet materials,windows, doors, ironmongery, and other materials. The prices of building materials areconstantly changing. When a customer asks about the price on fixtures, fittings, hangings,and other items, sales representatives consult a manual price sheet and then call thesupplier for the most recent price. The supplier in turn uses a manual price sheet, whichFor Theoretical AnswerAssessment Parameter WeightageIntroduction 20%Concepts and Applicationrelated to the question60%Conclusion 20%For Numerical AnswerAssessment Parameter WeightageUnderstanding and usageof the formula20%Procedure / Steps 50%Correct Answer &Interpretation30%has been updated each day. Often, the supplier must call back Suthar's sales reps becausethe company does not have the newest pricing information immediately on hand. Assesshow the use of ERP…Define the term Independent Demand and explain how it relates to the salesand marketing activity of firms. Explain the benefits of accurate estimationof future Demand within the context generating a reliable production planTable: Factors causing the decline in sales Factors % Contribution Delayed deliveries 15% Lack of delivery personnel 8% Inaccurate sales orders 25% Wrong deliveries 32% Delayed invoicing 6% Pilferage 7% Expired items 7% a. Following the Pareto Principle, what are the vital factors or main contributors to the decline in sales? Show your Pareto Chart and indicate or label the vital factors or contributors to the problem. Hint: know the vital few % b. What are the vital factors or vital contributors to the problem? c. If the sales and marketing manager wants to reduce the impact of vital factors or contributors by 70%, what will be a good GOAL Statement to improve his sales problem? Hint: Use SMART GOAL