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Explain How Yield Management Works and Why Some Companies Are

question 57

Essay

Explain how yield management works and why some companies are able to use it to manage demand patterns.


Definitions:

Informational Influence

Social influence stemming from the desire to be correct in situations where the correct action or belief is uncertain, leading individuals to conform to others' expectations.

Social Group

A collection of individuals who interact with each other and share similar characteristics and a sense of unity.

Commitment

refers to the state or quality of being dedicated to a cause, activity, or relationship, often reflected in behavioral persistence and emotional investment.

Door-In-The-Face

A strategy where an initial, larger request is made knowing it will probably be refused, followed by a smaller more reasonable request.

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