Question 1
"Yield management" is best described as
◦ a situation where management yields to labour demands.
◦ a situation where the labour union yields to management demands.
◦ capacity allocation to different classes of customers in order to maximize profits.
◦ management's selection of a product mix yielding maximum profits.
◦ a process designed to increase the rate of output.
Question 2
Industries in which quadrant of the Yield Management Matrix are traditionally associated with revenue management? (In other words, in which quadrant are yield management techniques easiest to apply?)
◦ use tends to be unpredictable and price tends to be semi-fixed
◦ use tends to be uncertain and price tends to be variable
◦ use tends to be predictable and price tends to be variable
◦ use tends to be uncertain and price tends to be fixed
◦ use tends to be predictable and price tends to be fixed
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