Yield management is a strategic practice in revenue management that aims to generate maximum revenue or profit from limited resources. This is achieved, for example, by optimising the pricing and availability of products or services. Yield management is often used in industries such as hospitality, aviation, tourism, event planning, and retail, where demand and available capacity can vary.
The goal of yield management is to adjust prices and capacities in such a way that earnings are maximized by approaching customers with different willingness to pay and avoiding peak utilization and vacancies. By analyzing data, trends, and demand forecasts, companies can dynamically adjust their pricing strategies to optimize profit margins and achieve their revenue goals.
Through good yield management, a company can increase its competitiveness on the market.
