Several strategies exist for managing the supply and demand of services. List the strategies for managing each and give an example of each strategy

What will be an ideal response?

Several strategies can produce a better match between service demand and supply.
On the demand side, these strategies include the following:
a. Differential pricing: This will shift some demand from peak to off-peak periods. For example, low matinee movie prices and weekend discounts for car rentals.
b. Nonpeak demand: This can be cultivated. For instance, McDonald's pushes its breakfast service, and hotels promote minivacation weekends.
c. Complementary services: These can provide alternatives to waiting customers. For example, cocktail lounges in restaurants and automated teller machines in banks.
d. Reservation systems: These are one of the many ways to manage the demand level. For instance, airlines, hotels, and physicians employ them extensively.
On the supply side, these strategies include the following:
a. Part-time employees: They can serve peak demand. For example, colleges add part-time teachers when enrollment goes up and stores hire extra clerks during holiday periods.
b. Peak-time efficiency: These routines can allow employees to perform only essential tasks during peak periods. For instance, paramedics assist physicians during busy periods.
c. Increased consumer participation: This frees service providers' time. For example consumers can fill out their own medical records or bag their own groceries.
d. Shared services: These can improve offerings. For instance, several hospitals can share medical-equipment purchases.
e. Facilities for future expansion: This can be a good investment. For example, an amusement park can buy surrounding land for later development.