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SIT50416 Diploma Of Hospitality Management

tag 0 Download 5 Pages / 1,068 Words tag 22-10-2021
  • Course Code: SIT50416
  • University: Victoria University
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  • Country: Australia

Questions:

Topic : Occor Group Hotels

1.An introduction

Initiate though regarding restrictions placed upon the price and availability of hospitality products and service

Define the concept of revenue management

Generate discussion regarding the practice of revenue management techniques in the hospitality industry

2.Internal Assessment and Competitive Analysis

Present the concept of competitive set

Explain the meaning and components of competitive intelligence

Describe the process of internal assessment

Identify the elements in a SWOT analysis

Learn hoe to develop strategies based upon the SWOT analysis

3.Economic Principles and Demand Forecasting

Explore the concepts of scarcity and opportunity costs

Illustrate the dynamics of supply and demand and explain how the market reaches equilibrium

Consider the effect of price on substitutes, complements, and inferior goods

Provide the formulas used to calculate the price elasticity of a product or service to determine its price sensitivity

Investigate the impact of price elasticity on consumer spending and revenue

Examine alternative methods for managing demand

Explain the components present in demand forecasting

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Total 5 pages

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[Accessed 06 December 2022].

My Assignment Help. 'Diploma Of Hospitality Management' (My Assignment Help, 2021) <https://myassignmenthelp.com/free-samples/sit50416-diploma-of-hospitality-management/economic-values-and-demand-estimating.html> accessed 06 December 2022.

My Assignment Help. Diploma Of Hospitality Management [Internet]. My Assignment Help. 2021 [cited 06 December 2022]. Available from: https://myassignmenthelp.com/free-samples/sit50416-diploma-of-hospitality-management/economic-values-and-demand-estimating.html.


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