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Segmentation is the process of dividing a market into distinct groups of buyers with different needs, characteristics, or behaviors who might require separate products or marketing mixes.

Displacement Cost is the opportunity cost of selling a unit of inventory to one customer instead of another, potentially more profitable customer. This concept is crucial in deciding which reservations to accept.

Fencing refers to the creation of conditions or barriers around the purchase of a good or service, such as non-refundability or advance purchase requirements, in order to segment markets and better manage pricing.

Price Discrimination is the strategy of selling the same product to different customers at different prices, based on the willingness to pay. This is common in software sales and services.

Overbooking is the practice of selling more units than are available, based on the expectation that some customers will cancel or not show up. This technique is used to maximize revenue and reduce the impact of no-shows.

Yield Management is a strategy based on selling the right product to the right customer at the right time for the right price, to maximize revenue. It's widely used in the hospitality and airline industries.

Channel Management involves using different marketing and distribution channels to reach out to different customer segments, potentially varying prices and availability on the channels to maximize revenue.

Inventory Control in revenue management refers to the process of managing the availability of items to ensure they are provided at the right time to generate the most revenue, often through overbooking policies.

Dynamic Pricing is the practice of varying the price for a product or service to reflect changing market conditions, typically demand. This approach is often used in airline and hotel industries.