Yield management and review management

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Reference no: EM133621203

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Yield management and review management are both strategies used by service-based organizations to optimize their pricing and capacity utilization. Yield management is a strategy used to get the most revenue possible out of a specific revenue stream. Yield management focuses on maximizing revenue by adjusting prices and availability based on changes in demand. Yield management involves dynamically adjusting prices to whatever customers are willing to pay in order to ensure that the company maximizes revenues. This strategy involves offering discounts during off-peak periods and raising prices during peak demand times. Revenue management is a broader concept that uses a wider range of strategies to maximize revenues such as segmenting customers, creating pricing tiers, and bundling products and services.

Reference no: EM133621203

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