In its most traditional sense, yield management is a variable pricing strategy based on understanding, anticipating and inﬂuencing consumer behavior in order to maximize revenue or proﬁts from a ﬁxed, time-limited resource (such as airline seats or hotel room reservations—or spa services). As a speciﬁc, inventory-focused branch of revenue management, yield management involves strategic control of inventory to sell the right product to the right customer at the right time for the right price. This has worked for airlines and the hotel and hospitality industries for years.
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