Demand management: Breaking down today’s commercial silos

Go to Course: https://www.coursera.org/learn/demandmanagement

Introduction

# Course Review: Demand Management: Breaking Down Today’s Commercial Silos In the fast-paced and ever-evolving landscape of the hospitality industry, effective demand management is not just a buzzword; it's a necessity. Coursera’s course "Demand Management: Breaking Down Today’s Commercial Silos" tackles one of the most pressing challenges facing the sector: the integration of sales, revenue, distribution, and finance. Over the next five years, the consequences of ignoring these silos will be significant when it comes to delivering asset value and ensuring maximum profitability. This course aims to change that narrative, and it does so through a well-structured and insightful approach. ## Course Overview Spread across four key modules—Asset Management, Demand Generation, Digital Marketing, and Demand Optimisation—this course provides a comprehensive guide to dismantling the barriers between commercial disciplines. Each module is carefully crafted to equip professionals with the knowledge and skills necessary to thrive in a competitive environment. ### Module Breakdown 1. **Asset Management** - This module begins with a succinct introduction to asset management, diving deep into the "Asset Management Triangle" and its integral players. Through a walkthrough of the hotel project lifecycle—from inception to exit—you'll gain a robust understanding of the milestones involved and how effective asset management can ensure sustainability and profitability. 2. **Demand Generation** - Understanding demand generation is crucial for establishing your hotel’s market positioning and profitability. This module explores pivotal factors that contribute to demand generation, ensuring you have the tools needed to enhance both operational effectiveness and long-term asset valuation. 3. **Digital Marketing** - Digital marketing is a key driver in attracting today's tech-savvy travelers. This module discusses the evolution of marketing methodologies, focusing on the importance of visibility and strategic distribution channels. You'll learn to navigate costs and strategies that lead to profitable customer acquisition while staying relevant in a digital-first world. 4. **Demand Optimisation** - The course culminates with an in-depth examination of revenue management, covering the six critical steps of the Revenue Management Cycle. Key questions are addressed, such as data sourcing, predictive analysis, and decision-making processes, making this module particularly valuable for professionals looking to maximize their revenue streams. ## Recommendations ### Who Should Enroll This course is highly recommended for professionals working within the hospitality industry, including hotel managers, revenue managers, marketing professionals, and asset managers. If you are looking to bridge the gap between different commercial disciplines in your organization or wish to enhance your operational profitability, this course is tailored for you. ### Why to Take It - **Real-World Applications**: You will find that the theories learned can be directly applied to your work, bridging the gap between foundational knowledge and practical implementation. - **Expert Insights**: Benefit from industry-standard practices and methodologies that will keep you ahead of the curve. - **Networking Opportunities**: Coursera facilitates a global learning community where you can exchange ideas and experiences with peers from around the world. ### Tips for Success To get the most out of this course, consider creating a study schedule that aligns with your professional commitments. Engage in discussions within the course forums, and don't hesitate to reach out to instructors with questions. Use the course materials to create actionable strategies that you can implement in your workplace. ## Conclusion In a hospitality landscape increasingly defined by the interplay of various commercial disciplines, "Demand Management: Breaking Down Today’s Commercial Silos" stands out as an essential course for industry professionals. By providing the tools to streamline these silos and optimize profitability, this course is not just an academic exercise; it’s a roadmap for operational excellence. I wholeheartedly recommend it to anyone looking to enhance their strategic acumen in the hospitality sector.

Syllabus

Asset Management

After a short introduction and definition of asset management, this module will explore the relationship between what we call the "Asset management triangle" actors. We will then walk through the different milestones of a hotel project, from start to finish, from initial plan to exit.

In this module, you will understand what demand generation means, and explore the key factors that ensure that you can achieve your goals in terms of the hotel's positioning in the market place, the profitability of the operation and its long term valuation.

Marketing is about making something known, desired and bought by the right public. While this hasn't changed, the means to achieve it has changed exponentially over the last two decades. As the customer searches for and finds your hotel, you will have to deal with the costs of distribution and how to sell through the most profitable channels to keep a healthy bottom line, while ensuring adequate visibility and top line.

In this module, we will look at what problems Revenue Management was invented to help hotels and other similar business overcome. Then we will go through each of the critical six steps of the Revenue Management Cycle answering such questions along the way as: Where do I get the data I need from? What do I do with the data once I have it? How can I predict what is going to happen in the future? What kind of forecasting method can I use? What decisions do I need to make to get the most revenue and profit?