Remake of Remake of Remake of HSM AY17/18 TOPIC 4: Market Segmentation and Selection by Farah Seet https://padlet.com/mrsfarahseet/Topic4DTRM04 How to Get Revenue Management Right for 2017 en-us 2017-04-18 02:34:34 UTC 2017-10-30 01:38:04 UTC hello@padlet.com Mrs Seet https://padlet.com/mrsfarahseet/Topic4DTRM04/wish/201478342 Dtrm04. Where’s your answers?]]> 2017-10-29 10:54:40 UTC https://padlet.com/mrsfarahseet/Topic4DTRM04/wish/201478342 Group 4 https://padlet.com/mrsfarahseet/Topic4DTRM04/wish/201482517 The revenue department helps to predict customer demand and using that, comes up with strategies for the price of the hotel and its available products. On the other hand, the sales and marketing department is in-charge of selling and promoting the hotel.

Thus, the revenue department is more important as they are the ones giving the sales and marketing department the right strategies and customers to target. With the abilities of the revenue department, it will mean a higher possibility of success in selling the hotel and its facilities as careful analysis of the current demand has been made and tailored to the target audience. Without the revenue department's help, the sales and marketing department will only be able to push for sales without a specific aim and audience, thus, not reaching to their full potential. More importantly, for the hotel’s success and profitability, both departments have to work hand in hand to optimize the hotel's resources and sell the right product, to the right customer, at the right time, for the right price, through the right distribution channels.]]> 2017-10-29 11:46:21 UTC https://padlet.com/mrsfarahseet/Topic4DTRM04/wish/201482517 Group 2 - Chermaine, Lixuan, Shi Yun & Gin Lee https://padlet.com/mrsfarahseet/Topic4DTRM04/wish/201499513 Sales / marketing is the bridge to connect a company and its customer. If a company is able to connect and build a strong bridge with their customers, sales is assured. Sales / marketing department creates brand positioning in the market for our products and services in the company. Once the products and services is known to their potential market, more purchases would be made, resulting in higher sales, due to an increase in consumer awareness. The revenue department, on the other hand “is the art and science of predicting real-time customer/ segment demand at the micro market level and optimizing the company’s pricing strategy and availability of products to match that demand”. This means selling the right products or services, to the right customer / segment, at the right time, for the right price through the right distribution channels. 

Hence, we feel that the sales / marketing department is critical in building a brand as it focuses on coming up with a solid marketing strategy that helps to attract new customers and maintain customer loyalty. As customer loyalty is key, marketing managers and executives devote an extensive amount of time and resources to building brand awareness and creating ongoing, interconnected campaigns. In addition, they also focus more on building relationships with the hotel’s customers. Maintaining well-built relationships would be beneficial to the hotel in the long run, as losing one customer might result into losing more than one sale. Hence, focusing on creating new customer relationships and understanding their needs would be wiser choices to increase profit sales for the department.


]]> 2017-10-29 15:21:12 UTC https://padlet.com/mrsfarahseet/Topic4DTRM04/wish/201499513