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Reservation price
Reservation price

... Revenue management has increased revenue significantly American Airlines’ estimates of annual incremental revenue of $1 billion through revenue management ...
Key Marketing Functions
Key Marketing Functions

... 1. If I go to a buyer for Acme supermarkets and pitch my product to him, this is a form of ____________________. 2. I am looking to open stores in an international country, I hire specialist to tell what the people of that culture likes and dislikes; This is a form of _______________. 3. I have a fo ...
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Yield management

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, perishable resource (such as airline seats or hotel room reservations or advertising inventory). As a specific, inventory-focused branch of revenue management, yield management involves strategic control of inventory to sell it to the right customer at the right time for the right price. This process can result in price discrimination, where a firm charges customers consuming otherwise identical goods or services differing prices for doing so. Yield management is a large revenue generator for several major industries; Robert Crandall, former Chairman and CEO of American Airlines, gave yield management its name and has called it ""the single most important technical development in transportation management since we entered deregulation.""
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