Nor Easters Case Study
What do you consider to be the key findings of the research survey? Comment on what Buckingham learned about a prospective customer profile, pricing and single-ticket versus season-ticket packages.
Several of the key findings from the research survey can be summarized into the following points;
In regards to a customer profile those aged between 26-35 years old with children, an income between $22,500 to $75,000 would attend under 5 or 2 games per year. They would not necessarily be a baseball fan but are looking for family entertainment. This gives an understanding to motives behind why this market is attending and how to create a market strategy to their ideals.
Another key finding from the research survey is that of the customer profile about 39% of the population would be willing to go to at least one game a year. This allows the conclusion to be drawn that 21,582 people will at least come once in the season. Buckingham needs at least 50% of the Springfield population to attend at least one game throughout the season to break even.
Furthermore the research shows an good indicator of what customers are willing to pay for a ticket. Most customers are not willing to pay higher for premium seating and are willing to pay between $10-$14 per game.
The market for single ticket buying provides the biggest opportunity as it is assumed that the customers attending one single game are attending in substitution of other entertainment options and pricing has to be focused on suiting their budgetary requirements.
There is a small market for purchasers of the full season tickets. Lowering the price of the full season tickets will be needed to increase demand. Furthermore concession will make up for lowering the ticket price. Concession income is important and most people will spend at least $6 on concession goods.
What considerations should the Nor’easters take into account in establishing a pricing policy?
The considerations that need to be addressed in
Several of the key findings from the research survey can be summarized into the following points;
In regards to a customer profile those aged between 26-35 years old with children, an income between $22,500 to $75,000 would attend under 5 or 2 games per year. They would not necessarily be a baseball fan but are looking for family entertainment. This gives an understanding to motives behind why this market is attending and how to create a market strategy to their ideals.
Another key finding from the research survey is that of the customer profile about 39% of the population would be willing to go to at least one game a year. This allows the conclusion to be drawn that 21,582 people will at least come once in the season. Buckingham needs at least 50% of the Springfield population to attend at least one game throughout the season to break even.
Furthermore the research shows an good indicator of what customers are willing to pay for a ticket. Most customers are not willing to pay higher for premium seating and are willing to pay between $10-$14 per game.
The market for single ticket buying provides the biggest opportunity as it is assumed that the customers attending one single game are attending in substitution of other entertainment options and pricing has to be focused on suiting their budgetary requirements.
There is a small market for purchasers of the full season tickets. Lowering the price of the full season tickets will be needed to increase demand. Furthermore concession will make up for lowering the ticket price. Concession income is important and most people will spend at least $6 on concession goods.
What considerations should the Nor’easters take into account in establishing a pricing policy?
The considerations that need to be addressed in