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In addition, Kimes (2000:4) defines that ?§yield management is the application of information systems and pricing strategies to allocate the right capacity to the right customer at the right place at the right time.?? She suggest that Yield Management are applicable where the following conditions predominated:
?U Capacity is relatively fixed
?U Demand can be predicated separated in to distinct market segment
?U Inventory is perishable
?U Products is sold well in advance of consumption
?U Demand fluctuates substantially
?U Marginal sale costs are low and production costs are high
Moreover, Kimes (1998, 2000) suggests that the following factors are the necessary ingredient for a yield management system:
?U Market Segmentation
?U Historical Demand and Booking Patterns
?U Forecasting
?U Pricing Knowledge
?U Overbooking Policy
?U Information System
Furthermore, Jones and Kewin (2000:234, cited in Ingold et al...
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