Penetration pricing is typically used in product markets, not service markets.

The primary goal of revenue management is to maximize revenue by optimizing the allocation of resources and pricing strategies.

Government regulations typically do not directly influence pricing decisions in service industries.

Dynamic pricing is the process of adjusting prices in response to changes in demand in order to maximize revenue.

Economic forecasting is typically used for forecasting demand for products, not services.

Price discrimination is the practice of charging different prices to different customers for the same service.

Perishable inventory is typically a challenge faced by product businesses, not service businesses.

Revenue optimization is the process of optimizing the allocation of resources to maximize revenue.

Raising prices is typically not a common pricing strategy used to increase revenue in service industries.

Peak pricing is the practice of charging a higher price for a service during peak demand periods.

Customer relationship management is typically not a method used for revenue management in service industries.

Off-peak pricing is the practice of charging a lower price for a service during off-peak demand periods.

Perishable inventory is typically a challenge faced by product businesses, not service businesses.

Price discrimination is the practice of charging different prices to different customers for the same service based on their willingness to pay.