Title: Explain why revenue management is essential when dealing with perishable goods.
Course: Travel, Tourism, and Destination Marketing (16152) > Section: Understanding the Financial Implications of Marketing and Sales

Explanation should include a definition of perishable goods (e.g., hotel rooms, airline seats, cruise cabins, tee times, meeting spaces). Explanation should also include

- sell-through strategies
- overbooking
- last-minute marketing
- real-time pricing algorithms

Process/Skill Questions:

- How can revenue management techniques create profit in marketing and sales?
- How and when would overbooking be utilized?
- What revenue management techniques are used during times of high demand?
- What revenue management techniques are used during times of low demand?
- What are the results of poor revenue management techniques?