Applying Yield Management to the Golf-Course Industry
Seminar paper from the year 2003 in the subject Tourism, grade: alle ECTS-Punkte erreicht, Stralsund University of Applied Sciences (-), course: Yield Management, 15 entries in the bibliography, language: English, abstract: Yield management consists of two strategic levers: duration control and demand-based pricing . Golf courses have been willing to try managing duration but have been reluctant to apply demand-based pricing because of fears of possible customer dissatisfaction. While golf courses do us demand-based pricing when offering higher prices on weekends and promotions such as twilight specials and league play, they have been loathe to vary price by time of day, time of booking or condition of play. Golf courses operators may well have support for their fears in the fairness literature. Researches have found that customers will refuse to patronize companies perceived as unfair. If demand-based pricing in courses is viewed as unfair by golfers, the golf course may suffer a loss of business.
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Airlines apply approaches include available capacity available tee busy Cassell charge a fixed concept Convention centers Cornell Hotel course design COURSE DURATION MANAGEMENT course marshals Cruise lines customer demand demand-based pricing discounting strategies duration control External External measures factors fixed price flow of customer forecasting golf course operation golf industry guarantee reservations Hanks Hotel and Restaurant Ingold Internal measures Kimes Levers of Yield MANAGEMENT FOR GOLF marshals or caddies no-show Norland operate the strategic overbooking peak and valleys playing Post golfers predictable duration Quadrant price according price sensitivity pricing structure R. P. & Cross Reconfirm reservation Redefine reduce the uncertainty Rental cars requiring guests Research reservation by phone Restaurant Administration Quarterly revenue management room-night S. E. & Chase Service Industries shift demand strategic levers strategies involve STRATEGY FOR YIELD tactics Typology of Yield uncertainty of arrival variable pricing W. J. & Grimes Yeoman yield management strategy