Question: Table 10.17 shows projected demand for a peak summer weekend day at Timber Ridge Golf Course. Golfers prefer to play in the middle of the

Table 10.17 shows projected demand for a peak summer weekend day at Timber Ridge Golf Course. Golfers prefer to play in the middle of the day, rather than very early or very late. Compare the effects of a standard pricing scheme of $50 per round with those of the adjusted pricing given in Table 10.17.

a. The standard price is $50 per round regardless of the tee time. Calculate the total demand for the day and the revenue for this pricing scheme.
b. Assuming Timber Ridge changes its pricing for the rounds to the scheme shown in the fourth column of Table 10.17, calculate the total demand for the day and the revenue for this adjusted pricing scheme.

Demand (Rounds) for Standard Pricing Demand for Adjusted Pricing Tee Time Early Riser (before 8 a.m.) 10 35.00 Regular (8 a.m.-3 p.m.) 30 20 560.00 Early Twilight (3 p.m.-5 p.m.) 550.00 Twilight (after 5 p.m.) 14 $45.00

Step by Step Solution

★★★★★

3.38 Rating (164 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock

Timber Ridge Golf aDemand 6 30 8 7 51 Revenue 51 50 2550 b... View full answer

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Document Format (1 attachment)

792-B-M-L-S-C-M (4589).docx

120 KBs Word File

Students Have Also Explored These Related Management Leadership Questions!

Table 10.16 shows projected demand for Jumbo Jets airline for a flight between Paris and Berlin on a given day. The Airbus plane used in this route has a capacity of 150 passengers. a. The standard...

A local golf course's hired-gun econometrician has determined that there are two types of golfers, frequent and infrequent. Frequent golfers' annual demand for rounds of golf is given by Qf = 24 -...

A group of five successful business people were awarded the franchise for one of two new expansion teams in the North American Sports League (NASL). The professional sports franchise was named the...

What strategic issues confront Vail Resort in 2017? What market or internal circumstances should most concern CEO Rob Katz and his companys senior leadership team? WHISTLER BLACKCOMB AFTON ALPS...

question What are strategic levers? How are strategic levers used? Abstract Yield management, controlling customer demand through the use of variable pricing and capacity management to enhance...

I attached the instruction and the article to read in PDF format. Make sure to answer all questions and each question has to have 5 answers. Thank you, r 2010 Public Financial Publications, Inc....

After reading the article below identify and briefly discuss each of the following key takeaways key criticisms/oversights, how what youve read might be implemented into daily business practices....

ITEM #1 LEARNING FROM THE HEADLINES True to the Learning from the Headlines approach of this course, watch the Part Three Intro Video after you read the short article the video highlights. Notice...

Question: A short Business Review/Article Analysis for "The Emergence and Evolution of the Multidimensional Organization." (overview/analysis of major points) The Emergence and Evolution of the...

For the exclusive use of V. Roche, 2016. CMR 432, 08/01/09 S u m m e r 2 0 0 9 | V o l . 5 1 , N o . 4 | R E P R I N T S E R I E S California Management Review The Emergence and Evolution of the...

Money is not the only source of work motivation, but it plays a key role. Explain the specific role of money as a motivator in each of the theories of motivation presented in this chapter.

Time in a Bottle Company (TBC) manufactures plastic two- liter bottles for the beverage industry. The cost standards per 100 two-liter bottles are as follows: Standard Cost Cost Category per 100...

Why does Denise feel the way she does about Joshs behavior? Is this just a case of sour grapes on her part, or does she have a legitimate complaint? If she has a legitimate complaint, to whom should...

Youre a marketer trying to determine which trade shows you might want to include in your marketing mix. Which element of the marketing mix would address this concern? a. Product b. Price c. Place d....

How should customer satisfaction be measured at a bank? A restaurant? A manufacturing firm? A retailer?

Describe the steps necessary for designing and implementing a successful CRM program.

What is the most common mistake made when designing and implementing a CRM program?

Match each item with the correct statement below (regarding the break-even diagram. measured in dollars Choose... variable cost per unit point where the total revenue line and the total cost line...

Match the Investing Goal with the Investor most likely to choose the goal as their primary goal. A college graduate that is starting a new job and contributing 10% to their 401(k). a. Preservation of...

In early 2018, Boeing was involved in a titanic struggle with European consortium Airbus SAS for dominance of the commercial aircraft industry. Airbus first committed to spend $16 billion to develop...