Yield management, also known as yield management or yield optimisation, is an extremely important practice in various industries, especially in the field of revenue management. It is a strategic approach in which companies optimise their limited resources or capacity in order to maximise overall revenue. This practice is used in a variety of industries, including hotels, airlines, car hire companies, cruise lines, event venues and many others.

The core idea behind yield management is to set the right price at the right time for the right product or service. This requires a comprehensive analysis of demand, capacity and market conditions. Companies need to be able to dynamically adjust prices to capitalise on peak periods while offering attractive deals during periods of low demand.

A key element of yield management is the segmentation of the customer base. Companies divide their customers into different segments in order to better understand their needs and purchasing behaviour. This makes it possible to set different prices and offers for different customer groups. For example, airlines can charge higher prices for last-minute bookings while offering discounts to early bookers.

The use of data and advanced analyses is crucial for successful yield management. Companies continuously collect and analyse data on bookings, cancellations, demand trends and competitive factors. This data serves as the basis for setting prices and adjusting strategies in real time.

Yield management is particularly well known in the hotel industry. Hotels adjust their room rates based on various factors such as seasonal demand, special events in the area and even the booking date. This allows hotels to maximise their room occupancy and increase revenue at the same time.

Overall, yield management is a highly complex practice that requires a deep understanding of markets, customer behaviour and data-driven analysis. Companies that successfully implement this strategy can significantly increase their profits while maintaining customer satisfaction.