Explanation:

Yield management is a pricing strategy through which you can maximize your revenue.

It is a famous variable pricing strategy that is primarily based on influencing as well as anticipating consumer behaviours. The income can be maximized using time-limited and fixed resources. These include hotel room reservations, airline seats, and even, advertising inventories.

To get the possible revenue yield, you need to sell your products and services to the right customers at the right time for the right price.

Well, this is what we are going to talk about right here. We will be covering all the aspects of yield management, why it is essential, and finally, we will understand it with examples.