Glossary

The shift from seller's to buyer's markets, and this against the backdrop of increasing competition, has turned yield management into a price policy instrument of modern corporate management. In the course of the deregulation of US air traffic in the late 1970s, American Airlines developed a new approach to price and capacity management with the aim of increasing capacity utilization and total revenue (Kühne 2003). The basic idea of the concept was to divide the seat capacity of an aircraft into individual allotments and sell them to the various customer segments. capacity availability and prices. Yield management is used by service companies with the aim of maximizing the company's total revenue by giving priority to satisfying the demand with the highest willingness to pay. Yield management is widely used by transportation companies (especially airlines), the hotel industry and car rental companies.

Yield management refers to the dynamic control of prices and capacities in order to make the best possible use of the available or predetermined total capacity in terms of yield and profit (Gabler 2000). Yield, translated from English, means yield, profit, return, yield, etc.

Literally translated, yield management means yield management, loosely translated, added value creation that leads to the highest possible average yield (Dettmer/Hausmann 2006). The correct term is revenue management. In practice, however, the terms yield, revenue or sales management are used exclusively. Yield only refers to the average revenue per unit sold, but here it is specifically about increasing the total revenue of a particular "service unit" (transportation and accommodation services).

Source: Waldemar Berg: Waldemar Berg. (2014). Introduction to Tourism: Overview and Management. De Gruyter Oldenbourg.