Common Course Outline
Catalog Description
| Credits | 3 |
|---|---|
| Hours/Week | 3 |
| Prerequisites (Course discipline/number) | None |
| Other requirements | None |
| MnTC Goals (if any) | NA |
Course Description
This course provides the learner with a working knowledge of the functions and roles of revenue and e-commerce managers in the hospitality industry. The student will be introduced to revenue management as a systematic process designed to increase revenue by leveraging techniques and practices that influence a consumer’s decision to make a purchase. In addition to evaluating different pricing models and major digital channels, this course provides a foundation for more advanced revenue management courses in forecasting, group management, pricing strategy, and application of revenue management techniques to other hospitality-related industries. Learners will be provided with proven methods and strategies to enhance visibility and increase conversion to achieve business objectives. All of the techniques and practices discussed in this course are applicable to a variety of service management roles.
Date Last Revised (Month, year)
February, 2023
Outline of Major Content Areas
- Revenue and e-commerce leadership roles
- Functional activities of revenue managers
- Functional activities of e-commerce managers
- Revenue management techniques and tools
- Digital marketing mix strategies
Learning Outcomes (General)
The student will be able to:
- Examine the role of revenue and e-Commerce leaders and their property level responsibilities.
- Describe the major concept within revenue management to include techniques, mix of sales review, market performance reports, displacement analysis, channel pricing, forecasting, inventory management.
- Summarize the major concept within e-Commerce, digital acquisition, onsite digital engagement, reputation management.
- Analyze the various customer segmentation and market trends with the purpose of creating a strategy to maximize revenue.
- Identify the current available marketing digital channels (website, search engine optimization, paid search, social networks and third party sites) in developing effective revenue generation strategies.
Learning Outcomes (MnTC)
NA
Methods for Evaluation of Student Learning
Methods may include but are not limited to:
- Assignments, projects, and case analysis
- Exams and quizzes
- Presentations
RCTC Core Outcome(s)
This course contributes to meeting the following RCTC Core Outcome(s):
- Critical Thinking
- Students will think systematically and explore information thoroughly before accepting or formulating a position or conclusion.
Special Information (if any)
None