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Assessment instruction Part 1 In two separate paragraphs, use economic theory to explain: The theory behind Price Differentiation and Market Segmentation Why a hotel strives to be monopolistically competitive. Part 2 You have decided to go on holiday for a week. Choose your trip and destination. You might fly or you may travel by cruise ship or train. It may be a luxury, student or family trip etc. You do not have to stay in one place during your trip and the return route is for you to decide. Required: Your task is to achieve this complete trip for the lowest possible price in the month you choose for the holiday. Provide your complete itinerary including flights, accommodation and total cost, Provide the methodology you used to plan the trip, List the various restrictions and segmentations you were able to utilize to achieve your lowest overall price, Explain the method you used to book the various tickets, accommodation, food (various lunches or dinners in restaurant), Note: You may use the business website directly, travel agent websites, any mobile or computer applications, any loyalty program reward information, (PMS or any Information systems), Relate your choices to the economic theory of price differentiation. If possible, provide evidence of how the supplier justifies Price Differentiation, Compare the cost of the trip with any other time period and explain the reasons you think the cost would be different from your current time of holiday, Critically evaluate the effectiveness of the relevant Revenue Manager Strategy in any part of your trip (flight, accommodation, restaurant) in terms of Pricing Strategy, Market Segmentation, managing Distribution Channel and Information System. Assessment Brief (BIHM401) Correct as at (Feb 2017) Page 11 Assessment format Calculations with appropriate annotations and properly constructed tables and graphs are required. Report style with appropriately labelled and constructed tables and graphs. The lecturer will provide all additional required material via the allocated SharePoint site.
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