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Author Question: Describe the basic process of revenue management. What will be an ideal response? (Read 67 times)

dakota nelson

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on: Sep 11, 2019

Question 1

Why is gross revenue also known as the win?
 
  What will be an ideal response?

Question 2

Describe the basic process of revenue management.
 
  What will be an ideal response?


bbburns21

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Reply #1 on: Sep 11, 2019

Answer 1

Gross revenue is total revenue waged less the amounts returned to bettors. So the win refers to that amount won by the casino.

Answer 2

As outlined in the chapter, the basic process is a loop, consisting of information system, human interpretation/adjustment, demand forecast, implementation (through pricing and inventory controls), distribution channel management, and performance evaluation.


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