Question

can someone expalin what does yeild management mean ( in aggregate capaicty planning ) in details...

can someone expalin what does yeild management mean ( in aggregate capaicty planning )
in details please ( and dont copy and paste )

Homework Answers

Answer #1

Yield management is a dynamic pricing strategy that tries to maximize profitability by controlling the price of goods based on demand and inventory supply. Yield management is based on the fact that different customers may be willing to pay different prices for the same product or service because of their needs and demands. Yield management, therefore, tried to identify these variables and focuses on maximizing revenue by finding the right customer for the right product at the optimum time. The timing of delivery of service and demand thus plays a key role in yield management. As such pricing of a product or service is determined by variables like the timing of the service delivery, timing of the demands, the type of service offered, etc. The core concept of yield management, therefore, is to develop strategies that maximize profitability in capacity-constrained service industries by matching the right customer who is willing to pay the highest price for that product or service at that particular time.

For example, based on their demand levels, a hotel may price their rooms to customers at different prices during different seasons of the year.

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
what exactly is yield management, and what does it have to do with aggregate planning?
what exactly is yield management, and what does it have to do with aggregate planning?
What is the Criterion that influences aggregate Planning? (Kindly explain in details)
What is the Criterion that influences aggregate Planning? (Kindly explain in details)
The subject of human resources management What does it mean to 'Lead the market' when designing...
The subject of human resources management What does it mean to 'Lead the market' when designing the pay system as a compensation manager? Elaborate with an example of an organization practicing this strategy. (at least 1 page) I needed a unique answer not copy and paste from the internet, please.
What are some examples of industries that demonstrate increasing returns to adoption? PLEASE ANSWER IN WORD...
What are some examples of industries that demonstrate increasing returns to adoption? PLEASE ANSWER IN WORD FORMAT ONLY. NO PICTURES. PLEASE ANSWER IN 350 WORDS. Dont copy paste from website. Thanks Subject: Management of Technological Innovation
Can someone please explain to me when an object is being thrown downward, what does the...
Can someone please explain to me when an object is being thrown downward, what does the velocity versus time graph shown? will the acceration be negative or constant?
1a. What does Frederick Taylor mean by the Principle of motion economy in his Scientific Management...
1a. What does Frederick Taylor mean by the Principle of motion economy in his Scientific Management theory and what does it involve? 1b. Illustrate with examples the essential differences between Efficiency and Effectiveness as management tools. Please Give Detailed explanations*** The subject is Principles of Management.
What might be the challenges to cost management in the airline industry, and why might certain...
What might be the challenges to cost management in the airline industry, and why might certain carriers be more efficient in cost management that plays a crucial role in bottom line expectations? please answer clearly and explain with your own words, don't copy-paste from articles
1. What is the P50? What does it mean if the P50 is lowered? Raised? I...
1. What is the P50? What does it mean if the P50 is lowered? Raised? I dont really understand how a lowering P50 decreases oxygen binding in hemoglobin (and visversa), could you please explain. Thankyou
What is the Application Layer and what does it do? (Please explain in details with simple...
What is the Application Layer and what does it do? (Please explain in details with simple words).
can someone define what is: - volatility crossover -mean reversion -descriptive statistics
can someone define what is: - volatility crossover -mean reversion -descriptive statistics