A good class discussion can be generated by asking

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Unformatted text preview: l. Moreover, many firms, includ ing hotels, restaurants, and universities, practice revenue management. A good class discussion can be generated by asking students to discuss how other organizations practice yield management without all of the publicity (often adverse publicity) that airlines receive. Hotels have various approaches, from weekend specials, to “points,” to computerized pricing to adjust to daily volume changes. Restaurants have coupons, early bird specials, and special prices on slow nights. Huge portions of restaurant customers have some sort of discount. The authors have seen one figure that as high as 30 percent of restaurant customers use coupons (the figure varies substantially, depending on the type of restaurant included.). Universities have so many grants, scholarships, and loans that in many universities most of the students have some sort of “deal”; this is revenue management for the university. These revenue management techniques are designed to appeal to various market segments. And the pervasiveness of the techniques proves that it does work. From the customer’s perspective there is often resentment at sitting next to someone on the airplane who has paid half as much for the same flight as you paid—or going to a restaurant an...
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