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Revenue Management in Hotel Industry Essay Assignment
Assignment Details:-
Topic: Revenue Management
Document Type: Essay Writing (any type)
Subject: Hospitality
Academic Standard Level: University
This article takes the position that many in the foodservice industry equate better quality ingredients with required higher prices. That certainly makes sense with fine wines and prime Do you think it make sense with other food and beverage items that are less well known? Explain your position.
Some food service operators take the position that if their customers only knew about the high- quality ingredients that were be using to prepare their menu items, then those customers would be glad to pay the higher prices higher-quality ingredients should command. Do you think it is a responsibility of restaurant operators to educate their customers about food and beverage quality? If so, how might they go about doing so?
This article takes the position that costs cannot be allowed to dictate price. But if cost alone cannot be allowed to dictate price, then what should be the criteria for establishing fair prices in the hospitality industry?
Think of your own experiences as a hospitality customer. Are there pricing strategies used by hoteliers that you wish restaurateurs would adopt? Are there pricing strategies used by restaurateurs that you wished hoteliers would adopt? If so, why?
Do you think it is customers or businesses suffer most from poor pricing strategies? Explain your position.
How do you think widely fluctuating prices will impact buyers’ long-term perception of a seller’s product or service quality?
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