What companies dominate the cruise line industry? What percentage ...

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Question 1

Can demand always be accurately forecasted? If not, why not?
 
  What will be an ideal response?

Question 2

What companies dominate the cruise line industry? What percentage of total industry revenue do they account for?
 
  What will be an ideal response?

[meltdown117]

Answer 1

Not always. Various techniques of demand forecast are discussed in the chapter. Revenue management systems store a great deal of data that serves as a basic foundation for the demand forecast. However, data is static, and consumer behavior may shift even though the numeric values stored in the system may not change. Therefore, it is important to highlight to students that the accuracy of the demand forecast needs to be constantly monitored and if necessary a re-forecast should be developed.

Answer 2

Carnival and Royal Caribbean account for about 70 of industry revenue.

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Thank you!

[meltdown117]

Always glad to help...