Definitions for yield management
This page provides all possible meanings and translations of the word yield management
Random House Webster's College Dictionary
the process of frequently adjusting the price of a product in response to various market factors, as demand or competition.
Origin of yield management:
Yield management is the process of understanding, anticipating and influencing consumer behavior in order to maximize yield or profits from a fixed, perishable resource. 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 a different price 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."
Find a translation for the yield management definition in other languages:
Select another language:
Discuss these yield management definitions with the community:
Use the citation below to add this definition to your bibliography:
"yield management." Definitions.net. STANDS4 LLC, 2014. Web. 18 Apr. 2014. <http://www.definitions.net/definition/yield management>.