article thumbnail

What Is Yield Management and Why Is it So Important?

Strategy Driven

A simple answer will be that Yield Management is a pricing strategy developed for the hospitality, air travel, tourism, and related industries that helps to produce maximum returns from their services. What is yield management and how does it affect your business? However, that may be an answer that barely scratches the surface.

article thumbnail

How Customers Come to Think of a Product as an Extension of Themselves

Harvard Business Review

Or consider Great Britain’s tourism campaign. Both of these tactics should elicit feelings of ownership. So Coke decided to sell bottles and cans labeled with hundreds of common names. And consumers were invited to request their own customized cans. Sales turned around, rising 2.5 percent in just 12 weeks.

article thumbnail

Change Management Is Becoming Increasingly Data-Driven. Companies Aren’t Ready

Harvard Business Review

We are working with a large travel and tourism firm to introduce a system for real-time employee feedback. The real-time feedback means we will learn very rapidly how communications or engagement tactics have been received, thus optimizing our actions in days rather than weeks, as might be the case with traditional approaches.