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What Is Revenue Management? How Can It Be Used to Control

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What is revenue management? How can it be used to control demand?


Definitions:

Behavioral Conditioning

A learning process that involves developing or modifying behaviors through reinforcement or punishment.

Product Differentiation

Product differentiation is the process used by businesses to distinguish their products from those of competitors, through unique features, branding, quality, or other attributes.

Market Power

The ability of a company or entity to influence or control the price and output of a product in the market.

Marginal Utility

The additional satisfaction or benefit gained from using or consuming one more unit of a good or service.

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