Question 1

In revenue management, the two levers for services are price and duration.

Accepted Answer

Price and duration are the two main levers used in revenue management to optimize revenue for services.

Question 2

The true yield on a flight would be based on the number of revenue-paying passengers who booked seats on the flight.

Accepted Answer

The answer of The true yield on a flight would...

Question 3

The travel industry tries to mirror itself after Amazon's model of additional product recommendations.

Accepted Answer

The travel industry often uses Amazon's model of recommending additional products to enhance customer experience and increase sales by suggesting related travel services or upgrades.

Question 4

All travel distribution channels and sectors were fundamentally changed by the advent of the Internet.

Accepted Answer

The Internet revolutionized travel distribution by enabling online booking platforms, direct consumer access to travel services, and digital marketing, fundamentally altering how travel products are distributed and consumed.

Question 5

Comparison sites like kayak.com tend to lower price competition.

Accepted Answer

Comparison sites like kayak.com increase price competition by allowing consumers to easily compare prices from different providers, encouraging companies to offer competitive pricing.

Question 6

Because information is created at lightning-fast speeds, it is no longer necessary for a manager to monitor user generated content about their business.

Accepted Answer

Monitoring user-generated content is crucial for managers to understand customer sentiment, address issues promptly, and maintain a positive brand image, despite the fast pace of information creation.

Quiz 5: Capturing Technologys Competitive Advantages