conclusion of concept of revenue
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Answer:
The term revenue denotes to the receipts obtained by a firm from the scale of definite quantities of a commodity at various prices. The revenue concept relates to total revenue, average revenue and marginal revenue. Total Revenue – It is the total sale proceeds of a firm by selling a commodity at a given price.
Answer:
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In this module, we will look at what problems Revenue Management was invented to help hotels and other similar business overcome. Then we will go through each of the critical six steps of the Revenue Management Cycle answering such questions along the way as: Where do I get the data I need from? What do I do with the data once I have it? How can I predict what is going to happen in the future? What kind of forecasting method can I use? What decisions do I need to make to get the most revenue and profit?
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