Please read the following article and find way and techniques of yield/revenue management applied in the airline industry. one example from the article is explained to you for your understanding.
http://commons.erau.edu/cgi/viewcontent.cgi?article=1522&context=jaaer
example of yield management in the airline industry from the attached article:
The second strategy associated with yield management is discount seat allocation. Simply stated, discount allocation is the practice of limiting the number of discounted airfares in order to reserve seats for higher- revenue customers on the same flight (DePew & Stripling,
1). Full fares for last minute bookings, and discounted fares for bookings made well in advance are determined through pricing strategy. On the other hand, yield management determines the number of seats that will be offered for each fare category, in order to maximize revenue (DePew & Stripling, 1). Vigorous yield management systems have the ability to monitor reservation activity on each flight for each type of customer, allowing for accurate demand forecasting (DePew & Stripling, 1). These changes in forecasted demand will further allow the yield management system to adjust discount allocations, overbooking rates, and the availabilityof the different types of airfares.
if you read the previous and following paragraph around this one you will find all the yield management applied in the airline industry easily. if you have another source and want to add more reference, go ahead but make sure they are correct.
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