Consider each step in the process that led to the findings of the surveyBuckingham started his research by using the League Sports Association survey done in and confirmed that families with school age children were more likely to attend sporting events. This information was useful however Buckingham had done this only to confirm some of the anecdotal findings listed in the local newspaper.
Just like any other profit-seeking business the aim of this sports club is sustaining a viable business by ensuring that it makes profit, at least it should have a break-even point in the opening season.
The paper examines data that was obtained from market research; it presents two alternative pricing strategies giving both strengths and weaknesses for all of them.
The paper also gives some recommendations from the discussed alternatives in the pricing. Nonetheless, although not entirely reflecting the entire population, due to limitations of sample size, the data in the survey indicates that 39 percent of the residents of Springfield show some willingness of attending games.
This is because the city mainly consists of households of the working class. Therefore regular single tickets should not be priced too high and the general pricing strategy should in addition comprise of generous discounts for specific groups like seniors and students and also there should be tickets for cheap seasons.
The general objective of the marketing plan is offering the fans of baseball in Springfield with a good experience and firstly they should be having sufficient entertainment. In order for this to occur an ample atmosphere at the games is very essential.
The type of atmosphere is usually greatly enhanced by enthusiastic students and it is essential to attract this target group to the games. This makes it even more appealing for families to go to the games, which boosts concession sales.
Students are an attractive target group since they contribute considerably to the best environment that is expected to be felt when in a live baseball game. Nonetheless, this group probably has the most limited means and hence requires the largest amount of discount.
In running any business the prices are not set by someone else by you as the business owner or manager. Many entrepreneurs are expected to come up with strategies for pricing by themselves.
This is however not an easy task, specifically considering the fact that the price that is placed on a product will be having a major effect of the profitability of the business.
In determining the price of tickets there are four main factors to be considered. When pricing the tickets it will critical to consider the demand which is the most essential factor to base a price on.
For a start the management had to establish a demand curve for the tickets. This would call for some extensive research.
This will entail asking how many people will be willing to purchase the tickets at a given price. This should be done for various prices. Research can be done by conducting survey among the market that is targeted by the tickets.
Another option is looking at the prices of those competing with the club; this will however not give an accurate picture. The next factor to consider is the demand price elasticity. This can be put simply stated that one has to determine how responsive to price the demand for the product is.
One can get accurate numbers by research and calculations, but a simpler approach can also be used. In this situation you ask the effect of slight change in prices.
If discount prices are been sold and then price is increased then demand will expected to fall significantly. If luxuries goods are been sold, then demand will not respond that much to changes in price.
The third factor to consider is cost.Springfield Nor’easters Project description #1. What type of ticket packages should be offered? #2.
Based on your ticket pricing plan, what is your expected annual ticket revenue? #caninariojana.com on the assumptions in the case, what is your expected annual concession revenue? #4. Will the team break-even during its first year?Provide all of .
Springfield Nor'easters EXECUTIVE SUMMARY Major Issues History Industry FIRM RESEARCH COMPETITION SWOT Financials IMPLEMENTATION Market Analysis BUYER BEHAVIOR Demographics RECOMMENDATIONS Product Price Promotion Place Questions?
Springfield Nor'easters Case - Assignment Example Extract of sample Springfield Nor'easters Case. Case Analysis. Ethically, informed consent is a communication process where the patient is allowed to make a voluntary and an informed decision regarding accepting or declining any medical care.
The three basic. The Springfield Nor’easters: Maximizing Revenues in the Minor Leagues Case Solution & Answer. Case Study Analysis Solutions. The Springfield Nor Easters Case Solution,The Springfield Nor Easters Case Analysis, The Springfield Nor Easters Case Study Solution, The constraints on and the resources available to the organization in solving the problem; The problem that the Nor’easters are facing is that pricing for.
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