THMA306 Sales and Revenue ManagementIstanbul Okan UniversityDegree Programs Food Engineering (English)General Information For StudentsDiploma SupplementErasmus Policy StatementNational Qualifications
Food Engineering (English)
Bachelor TR-NQF-HE: Level 6 QF-EHEA: First Cycle EQF-LLL: Level 6

General course introduction information

Course Code: THMA306
Course Name: Sales and Revenue Management
Course Semester: Fall
Course Credits:
Theoretical Practical Credit ECTS
3 0 3 6
Language of instruction: EN
Course Requisites:
Does the Course Require Work Experience?: No
Type of course: Compulsory
Course Level:
Bachelor TR-NQF-HE:6. Master`s Degree QF-EHEA:First Cycle EQF-LLL:6. Master`s Degree
Mode of Delivery: Face to face
Course Coordinator : Öğr.Gör. FADİL ÖZBAĞI
Course Lecturer(s): Öğr.Gör. FÜSUN FESLİ
Course Assistants:

Course Objective and Content

Course Objectives: In order to evaluate business decision, it is taught to use financial data and their analysis which all in the concept of business management skills.
Course Content: This course introduces the characteristics of the industry, including the needs of the various target markets, the implications of indirect distribution channels and the importance of revenue management.

Learning Outcomes

The students who have succeeded in this course;
Learning Outcomes
1 - Knowledge
Theoretical - Conceptual
2 - Skills
Cognitive - Practical
3 - Competences
Communication and Social Competence
Learning Competence
Field Specific Competence
1) Airway production units, understanding of financial books, making proportional analysis, foreign currency fuel and so on. recognition of the risks of cargo, different applications between business models, and revenue management methods in other industries
Competence to Work Independently and Take Responsibility

Lesson Plan

Week Subject Related Preparation
1) •Describe the course. •Define the importance of selling. •Compare consultivate vs. traditional selling. •Explain the characteristics of good sales person. .List sales role in hospitality. •Explain sales process. •Syllabus •Overview of Hospitality Sales
2) •List meetings market segments. •Explain the prospecting. •Explain social styles. .Describe clues to body language. •Describe listening skills. •Explain how to develop and maintain trust. •Prospecting and Preapproach •Approach by Adopting Social Style •Approach through Nonverbal Communication, Listening and Trust Review the Syllabus. Read chapter 1 from Hospitality Sales: Selling Smarter and be prepared to discuss in class.
3) •List opening techniques. •List the approaches to selling. •Openings •Probing for Needs Read chapters 2-3-4 from Hospitality Sales: Selling Smarter. Answer the review questions at the end of the chapters, be prepared to discuss in class.
4) .Describe owner benefit plus product characteristic. •Develop effective oral communication skills. •The Presentation Read chapters 5-6 from Hospitality Sales: Selling Smarter. Answer the lecturer’s questionnaire, be prepared to discuss in class. Read the case study and submit the answers.
5) •Explain techniques and tools for responding to objections •Describe common mistakes in decision stage. •List the buying signals. •Explain salesperson closing behavior. •Explain how to gain commitment •Handling Objections •Gaining Commitment Read chapter 7 from Hospitality Sales: Selling Smarter. Answer the review questions at the end of the chapter, be prepared to discuss in class. Read the case study and submit the answers, be prepared to discuss in class
6) •Describe how to follow-up •List the follow-up suggestions to extend relationship •Post-sale Follow-up Answer the review questions which the instructor has given and be prepared to discuss in class. Read chapters 8-9 from Hospitality Sales: Selling Smarter.
7) •Explain hotel contracts. •Explain how to make transitions. •Describe reservation systems •Identify function room assignments. •Categorize audiovisual equipment. Read chapter 10. Answer the review questions at the end of the chapter, be prepared to discuss in class. Read the case study and submit the answers, be prepared to discuss in class.
8) Mid-term Exam
9) •Define the purpose of revenue management •Define the price •Discuss the importance of price in 4 Ps of the marketing mix •Describe the role of supply and demand in pricing •Describe the role of costs in pricing •Explain how to implement strategic pricing •Introduction to Revenue Management •Strategic Pricing Read chapter 4 and be prepared to discuss in class.
10) •Describe the role of value in pricing •Compare the relationship between quality and price •Compare the relationship between service and price •Explain the link between quality, service and price •List ten principles of managing revenue •Value •Differential Pricing Read chapters 1-2 from Revenue Management for the Hospitality Industry and be prepared to discuss in class.
11) •Define the revenue manager in the hospitality industry •Explain legal aspects of revenue management •Describe Explain ethical aspects of revenue management •the importance of demand forecasting •Explain demand forecasts and strategic pricing •The Revenue Manager’s Role •Forecasting Demand Read chapters 3-4 from Revenue Management for the Hospitality Industry and be prepared to discuss in class
12) •Revise the marketing mix •Define the inventory management •Explain how characterize rooms for optimum inventory management •Classify guests by market segments •List principles of inventory and price management •Inventory and Price Management Read chapters 5-6 from Revenue Management for the Hospitality Industry and be prepared to discuss in class
13) •Explain how to manage distribution channels •List the principles of distribution channel management •Discuss the lodging revenue paradox •Analyze STAR reports •Distribution Channel Management •Evaluation of Revenue Management Efforts in Lodging Read chapter 7 from Revenue Management for the Hospitality Industry and be prepared to discuss in class
14) •Describe the characteristics of organizations applying revenue management. •Analyze service industries applying revenue optimization. •List specialized revenue management duties. •List the keys to building better business. •Discuss the better business issues in moderate to strong markets. •Specialized Applications of Revenue Management •Building Better Business •Summarize and preparation for final exam Read chapters 8-9-12-13 from Revenue Management for the Hospitality Industry and be prepared to discuss in class.
15) Final Exam

Sources

Course Notes / Textbooks: Revenue Management for the Hospitality Industry
David K. Hayes and Allisha Miller
2011 John Wiley&Sons | 1st Edition
ISBN-13: 978-0470393086
ISBN-10: 0470393084

Hospitality Sales: Selling Smarter
Judy A. Siguaw and David C. Bojanic
Thomson Delmar Learning | 1st Edition
ISBN: 1-4018-3478- 7
References: Hocanın önerdiği diğer kaynaklar

Course-Program Learning Outcome Relationship

Learning Outcomes

1

Program Outcomes
1) Has sufficient background in mathematics, science and engineering related fields.
2) Uses the theoretical and practical knowledge in mathematics, science and their fields together for engineering solutions.
3) Identifies, formulates and solves engineering problems, selects and applies appropriate analytical methods and modeling techniques for this purpose.
4) Analyze a system, system component or process and design it under realistic constraints to meet desired requirements; apply modern design methods accordingly.
5) Selects and uses the modern techniques and tools necessary for engineering applications.
6) Design experiments, conduct experiments, collect data, analyze and interpret results.
7) Works individually and in multi-disciplinary teams.
8) Accesses information and conducts resource research for this purpose, uses databases and other information sources.
9) Accesses information and conducts resource research for this purpose, uses databases and other information sources.
10) Accesses information and conducts resource research for this purpose, uses databases and other information sources.
11) Uses the theoretical and practical knowledge in mathematics, science and their fields together for engineering solutions.
12) Identifies, formulates and solves engineering problems, selects and applies appropriate analytical methods and modeling techniques for this purpose.
13) Analyze a system, system component or process and design it under realistic constraints to meet desired requirements; apply modern design methods accordingly.
14) Selects and uses the modern techniques and tools necessary for engineering applications.
15) Works individually and in multi-disciplinary teams
16) Uses information and communication technologies together with computer software required by the field at least Advanced Level of European Computer Skills License.
17) Communicate effectively verbally and in writing; use a foreign language at least at level B1 of the European Language Portfolio.
18) Communicates using technical drawing.
19) Accesses information and conducts resource research for this purpose, uses databases and other information sources.
20) Becomes aware of the universal and social effects of engineering solutions and applications; entrepreneurship and innovation and have knowledge about the problems of the age.
21) Has professional and ethical responsibility.
22) Have awareness of project management, workplace practices, employee health, environmental and occupational safety; the legal consequences of engineering applications.
23) Demonstrates awareness of the universal and social impact of engineering solutions and applications; is aware of entrepreneurship and innovation and has knowledge about the problems of the age.

Course - Learning Outcome Relationship

No Effect 1 Lowest 2 Low 3 Average 4 High 5 Highest
           
Program Outcomes Level of Contribution
1) Has sufficient background in mathematics, science and engineering related fields.
2) Uses the theoretical and practical knowledge in mathematics, science and their fields together for engineering solutions.
3) Identifies, formulates and solves engineering problems, selects and applies appropriate analytical methods and modeling techniques for this purpose.
4) Analyze a system, system component or process and design it under realistic constraints to meet desired requirements; apply modern design methods accordingly.
5) Selects and uses the modern techniques and tools necessary for engineering applications.
6) Design experiments, conduct experiments, collect data, analyze and interpret results.
7) Works individually and in multi-disciplinary teams.
8) Accesses information and conducts resource research for this purpose, uses databases and other information sources.
9) Accesses information and conducts resource research for this purpose, uses databases and other information sources.
10) Accesses information and conducts resource research for this purpose, uses databases and other information sources.
11) Uses the theoretical and practical knowledge in mathematics, science and their fields together for engineering solutions.
12) Identifies, formulates and solves engineering problems, selects and applies appropriate analytical methods and modeling techniques for this purpose.
13) Analyze a system, system component or process and design it under realistic constraints to meet desired requirements; apply modern design methods accordingly.
14) Selects and uses the modern techniques and tools necessary for engineering applications.
15) Works individually and in multi-disciplinary teams
16) Uses information and communication technologies together with computer software required by the field at least Advanced Level of European Computer Skills License.
17) Communicate effectively verbally and in writing; use a foreign language at least at level B1 of the European Language Portfolio.
18) Communicates using technical drawing.
19) Accesses information and conducts resource research for this purpose, uses databases and other information sources.
20) Becomes aware of the universal and social effects of engineering solutions and applications; entrepreneurship and innovation and have knowledge about the problems of the age.
21) Has professional and ethical responsibility.
22) Have awareness of project management, workplace practices, employee health, environmental and occupational safety; the legal consequences of engineering applications.
23) Demonstrates awareness of the universal and social impact of engineering solutions and applications; is aware of entrepreneurship and innovation and has knowledge about the problems of the age.

Learning Activity and Teaching Methods

Lesson

Assessment & Grading Methods and Criteria

Written Exam (Open-ended questions, multiple choice, true-false, matching, fill in the blanks, sequencing)

Assessment & Grading

Semester Requirements Number of Activities Level of Contribution
Midterms 1 % 40
Final 1 % 60
total % 100
PERCENTAGE OF SEMESTER WORK % 40
PERCENTAGE OF FINAL WORK % 60
total % 100

Workload and ECTS Credit Grading

Activities Number of Activities Workload
Course Hours 16 48
Study Hours Out of Class 16 112
Midterms 1 12
Final 1 15
Total Workload 187