Unit of competency Outline

Date retreived
22/07/2026 10:19 PM AWST

Whilst all efforts are made to provide accurate and timely information from the relevant source/documentation, please be aware that the information supplied may not be the most current version. The accuracy of the detail has not been confirmed by the Department and therefore should not be relied upon without first confirming the contents.

Manage revenue

Manage revenue

Unit of competency
National Code
SITXFIN006
State Code
AWQ51
TGA Status
Replaced
DTWD Status
Replaced
Current Release Number
1.00
Current Release Date
03/03/2016
View on TGA
State Implementation and Classification
Approved Date
12/07/2016
Field of Education
080101 - Accounting
Original Release Date
12/07/2016
Nominal Hours
20
Description
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.No occupational licensing, certification or specific legislative requirements apply to this unit at the time of publication.
Notes
Elements and Performance Criteria
1. Analyse and forecast business activity.
  • 1.1.Analyse existing performance data and budget targets.
  • 1.2.Interrogate and compare sources of business activity from different distribution channels and market segments.
  • 1.3.Evaluate external market factors, competitor activity and changing customer demand patterns.
  • 1.4.Develop scenarios and forecasts around future business performance and revenues.
2. Make pricing decisions.
  • 2.1.Confirm net, fixed and variable delivery costs.
  • 2.2.Review and incorporate distributor commissions and mark-ups.
  • 2.3.Set standard and promotional rates for different times, trading periods and market segments based on analysis of forecasts, pricing options and optimum yield.
  • 2.4.Assess the need for special conditions and apply as required.
  • 2.5.Document pricing structures and associated terms and conditions, with consideration of consumer protection requirements.
3. Implement pricing decisions.
  • 3.1.Communicate pricing initiatives to colleagues, internal and external partners, and distribution channels.
  • 3.2.Establish mechanisms and collateral to support pricing decisions in different market segments.
4. Monitor pricing initiatives.
  • 4.1.Monitor revenue results achieved through pricing and distribution initiatives on a timely basis.
  • 4.2.Adjust initiatives based on results and broader business and market analysis.
  • 4.3.Record performance data for future analysis.
No information
No information
Replaces
State Code National Code Title Type
WF778 SITXFIN602 Manage revenue Unit of competency
Replaced By
State Code National Code Title Type
OEC79 SITXFIN012 Manage revenue Unit of competency