The process of examining and factoring in consumer behavior to achieve the maximum amount of profit from a perishable good. Consumer behavior is examined to determine the correct price level to make the item enticing to the consumer. The idea is to coordinate timing, price, and consumer buying patterns to achieve the best return. The issue with yield management is that it can often result in unfair pricing for consumers. For instance, Joe may book a flight to California for $500 during the morning and Jane may book the same flight for $800 that evening. Joe was able to receive the better price because the flight still had plenty of open seats and the airline was trying harder to entice customers to purchase a ticket.
Related information about yield management:
- Yield management - Wikipedia, the free encyclopedia
Yield management is the process of understanding, anticipating and influencing consumer behavior in order to maximize yield or profits from a fixed, perishable ...
- Yield Management - Cornell School of Hotel Administration
Yield management is the umbrella term for a set of strategies that enable capacity -constrained service industries to realize optimum revenue from operations.
- What is yield management
Yield management otherwise known as Revenue management is a process for understanding customer behavior or buying trends in order to make maximum profits, ...
- Yield Management - Hotels
The techniques of yield management are relatively new – the first research to deal directly ... the oldest and most sophisticated users of yield management, these ...
- The Effect of Yield Management on Hotel Chains
Yield management, or revenue management, is the process by which sales of a limited quantity of goods, such as hotel rooms, airline seats, apartment leasing, ...
- Yield management: Lofty goals | The Economist
Feb 28, 2012 ... AN UNSOLD airplane seat or hotel bed burns its owners' money. Airlines, hotelliers and others with similarly perishable offerings have thus ...
- What Are the Benefits of Linking Yield Management With Sales ...
The use of yield management as part of your business philosophy can help ensure your company gets the most possible money out of the sale of limited or ...
- Yield Management - Synopsys
Semiconductor IC production is an inherently complex flow, starting with the design of a new chip, through the stringent manufacturing process, and ending with ...