COMPLETION QUESTIONS Yield Management Systems

question 17

Essay

COMPLETION QUESTIONS
Yield Management Systems
Profit-Oriented
Volume-Oriented
Value
Price/Demand Elasticity
Fixed
Variable
Contribution Margin
Breakeven Point
Price Bundling
Pure Price Bundling
-___________________ are used to set prices that generate or shift demand to create greater efficiency and profitability.

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Definitions:

Price Elasticity

A measure of how much the quantity demanded of a good responds to a change in the price of that good.

Sales Volume

The number of units of a product or service sold in a specific period of time, indicative of consumer demand and business performance.

Demand Elastic

Refers to the degree to which demand for a good or service varies with its price. High elasticity indicates demand changes significantly with price changes, while low elasticity indicates little to no change.

Mark-Up Percentage

The percentage added to the cost price of goods to cover overhead and profit.