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.
Inhaltsverzeichnis (Table of Contents)
- Abstract
- Introduction
- A “4-C” Strategy for Yield Management
- Yield Management for Golf - Courses
- Problem Background
- Typology of Yield Management
- Concept for Golf- Courses
- Golf Course Duration Management
- Summary and Conclusion
- References
Zielsetzung und Themenschwerpunkte (Objectives and Key Themes)
This paper explores the application of yield management principles to the golf course industry. It aims to provide a practical framework for boosting revenue and optimizing demand flow in golf course operations.
- The "4-C" strategy for yield management
- Typology of yield management in various industries
- Implementation of demand-based pricing in the golf industry
- Duration management as a key element of yield management
- Strategies for maximizing revenue and customer satisfaction.
Zusammenfassung der Kapitel (Chapter Summaries)
- Abstract: Introduces the concept of yield management as a tool to control duration and demand-based pricing in the golf industry, highlighting the potential benefits and concerns surrounding its implementation.
- Introduction: Provides an overview of yield management as a strategic approach to optimize revenue and customer demand. It highlights the increasing adoption of yield management in industries like airlines and hotels, and its potential application in the golf industry.
- A “4-C” Strategy for Yield Management: Outlines the four key factors – calendar, clock, capacity, and cost – that drive a successful yield management strategy. It emphasizes the importance of aligning service delivery with customer willingness to pay.
- Yield Management for Golf - Courses: Examines the specific challenges and opportunities of implementing yield management in the golf industry. It explores the concept of "right" capacity allocation to optimize revenue and customer satisfaction.
- Problem Background: Discusses the practical application of yield management in golf courses, emphasizing the importance of demand-based pricing and its potential to attract different customer segments.
- Typology of Yield Management: Presents a typology of yield management strategies across different industries based on fixed vs. variable pricing and predictable vs. unpredictable durations. It highlights the unique position of golf courses in this framework.
- Concept for Golf- Courses: Explores the specific strategies for applying yield management principles to golf courses. It provides a framework for adapting pricing and service delivery to match demand patterns.
Schlüsselwörter (Keywords)
The main keywords and focus topics of this work include yield management, revenue management, golf course operations, demand-based pricing, duration management, "4-C" strategy, customer segmentation, and strategic levers. The study explores the potential of applying yield management principles to the golf industry to optimize revenue and customer experience.
Frequently Asked Questions
What is Yield Management in the context of golf courses?
Yield management is a strategy used to optimize revenue through two main levers: duration control (pace of play) and demand-based pricing.
Why are golf course operators hesitant to use demand-based pricing?
Operators fear customer dissatisfaction, as golfers might perceive varying prices by time of day or booking as "unfair."
What is the "4-C" strategy for Yield Management?
The strategy focuses on four key drivers: Calendar, Clock, Capacity, and Cost to align service delivery with customer willingness to pay.
How can a golf course manage "duration"?
Duration management involves controlling the time it takes to play a round and optimizing tee-time intervals to increase capacity.
What are typical examples of demand-based pricing already used in golf?
Common examples include higher prices on weekends, twilight specials, and discounted rates for league play.
- Arbeit zitieren
- Beate Pehlchen (Autor:in), 2003, Applying Yield Management to the Golf-Course Industry, München, GRIN Verlag, https://www.grin.com/document/18117
