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.

Unit details

Location:
Study level:
Vocational and further education (TAFE)
Unit code:
SITXFIN006

Assessment

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.

Where to next?

As part of a course

This unit is studied as part of the following courses. Refer to the course page for information on how to apply for the course.

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