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

Question

Quizplus · Accepted Answer

Yield management pricing, also known as dynamic pricing, is a strategy used by airlines, hotels, and car rental companies to adjust prices based on fluctuations in supply and demand. This allows them to maximize revenue by selling their products at the optimal price depending on the time, day, week, or season.

Airlines,hotels,and Car Rental Firms Engage in _________ by Varying Prices