SITXFIN006 - Manage revenue

Unit code: SITXFIN006 | Study level: TAFE

Credit points

N/A

Location

Footscray Nicholson

Industry

Prerequisites

N/A

Overview

This unit describes the performance outcomes, skills and knowledge required to make, implement, and monitor pricing decisions to maximise yield and business profitability. The unit applies to senior personnel who work autonomously and are responsible for making strategic business decisions. It applies to supplier organisations in the tourism, travel and hospitality industries, in particular to the accommodation, tour operations and tour wholesaling sectors.

Assessment

For Melbourne campuses

Assessment tasks will be designed to reinforce and extend knowledge and skill competence within set and controlled parameters in accordance with each unit’s learning outcomes and performance criteria requirements, including the setting of work based practical application tasks designed to provide evidence of competence outcomes, within periodic and scheduled timelines.

Students will be expected to demonstrate the following required skills:

using each of the following at least once, develop, implement and monitor a total of six different pricing initiatives for: products; services; trading periods; market segments, and;
demonstrate consideration of the following factors when determining each of the above pricing initiatives: revenue management principles; industry distribution and marketing considerations.

Students will also be expected to demonstrate the following knowledge:

key principles and terminology of revenue management;
types of business performance data used in revenue management;
mechanisms and collateral that support initiatives in different market segments;
mechanisms and collateral that support initiatives in different market segments, and;
aspects of consumer protection law that impact on pricing and distribution.

Required reading

The qualified trainer and assessor will provide teaching and learning materials as required in the form of workbooks produced by the Polytechnic and/or via the Polytechnic e-learning system.