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Maximize Revenue with Yield Management

Yield Management – Oh My Gosh, What if Someone Complains...

Like many college students, I slept through most of my economics classes. My University held Wednesday night dances that didn’t start until 10:00 and “of course” I only stayed for 30 minutes because I wanted to be alert for my 8:00AM Economics class the next morning. Needless to say, occasionally I would raise my head off my desk and try to listen to the concepts of Supply and Demand. At the time, little did I realize that I would see Supply and Demand permeate everywhere throughout my adult life. Ever try to buy tickets to a sold out Jimmy Buffet concert? Prepare to pay double the ticket list price. A few years ago my wife needed to buy a Furbie for a Christmas present and I couldn’t find one in any store. So I ended up paying over $100 on eBay only to watch the prices drop to $30 the week after Christmas. And then the ultimate example of Supply and Demand is Gasoline prices, for which we all love making our weekly contributions toward the construction of palm island and indoor skiing resorts in Dubai.

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