Airlines, hotels, and car rental firms engage in _________ by varying prices based on time, day, week, or season to match demand and supply.

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Yield management pricing, also known as dynamic pricing, is the strategy of adjusting prices based on fluctuations in demand and supply. This is commonly used by airlines, hotels, and car rental firms to maximize revenue and minimize unoccupied seats or rooms. Skimming pricing refers to setting a high price initially for a new product, while bundle pricing involves offering several products for one price. Target pricing involves setting a price based on the desired profit margin, while prestige pricing involves setting a high price to create a perception of luxury or exclusivity.

Airlines, Hotels, and Car Rental Firms Engage in _________ by Varying