Service providers that use a yield management strategy
A)attempt to increase the number of people using the service while charging the maximum price possible.
B)attempt to control the costs of producing and delivering the service.
C)recognize that it is a difficult strategy to implement because of the inherent tradeoff between demand and price.
D)All of these are true.
E)None of these is true.

Question

Quizplus · Accepted Answer

Yield management is a strategy used by service providers to maximize revenue by using pricing strategies that balance the price with demand. It involves understanding and anticipating the demand for the service at different price levels and adjusting prices accordingly to maximize revenue. This strategy acknowledges the trade-off between demand and price and aims to optimize the number of users and the price charged, making all the given statements true.

Service Providers That Use a Yield Management Strategy