Revenue Management and Pricing Case 1: The Springfield Nor’easters: Maximizing Revenues in the Minor Leagues Question 1: Based on the survey‚ we determine the accumulated percentage of customers’ willingness to pay at each price. Since the demand differs as the price changes‚ we want to see by which combination we can maximize our profit. Assuming the population is 100 people‚ we multiply the accumulated percentage and the price to estimate our revenue: Therefore we get our initial estimate of
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Case Study Springfield Nor ’easters: Maximizing Revenue May 20‚ 2014 Lashenda Beauharnais AMBA 650 section 9040 Professor Boyle TABLE OF CONTENTS I. CASE SUMMARY 3 II. KEY ISSUES 4 III. ANALYSIS AND EVALUATION 4 IV. RECOMMENDATIONS 7 Appendix A: REFERENCES 13 I. CASE SUMMARY Springfield is the third largest city in Massachusetts where the newly formed minor league baseball team‚ The Nor ’easters‚ was recently introduced. The Nor ’easters baseball season is set to
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Manager Bob Cortez and Board Directors A new Class A minor league baseball team called the Nor’easters is coming to Springfield‚ MA. News around town was that another professional sports team‚ the Falcons‚ was having trouble drawing revenue. Since the Nor’easters are a new team it’ll be challenging for them to draw fans. Springfield is located 90 miles away from Boston and is the third largest city in Massachusetts. Springfield had lost many high wage residents resulting in 3.6% drop in
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The Springfield Nor’easters: Maximizing Revenues in the Minor Leagues Case Analysis Grace Chan 996834207 Date Submitted: November 4th‚ 2010 Date Due: November 4th‚ 2010
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After reading the case study on The Springfield Nor’easters‚ there are some key issues that really stuck out. The main issue was that Larry Buckingham‚ who was the marketing director for the Nor’easters‚ had to figure out how to sell season tickets‚ regular tickets‚ and merchandise at their games. The Nor’easters were set to take their home field in Springfield Massachusetts‚ which is about 90 miles west of Boston. This in itself makes it difficult to sell tickets to minor league baseball games as
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The Springfield Nor’easters: Maximizing Revenues in the Minor Leagues The Springfield Nor’easters Executive Summary Springfield‚ Massachusetts is the new location for the Nor’easters Class A minor league baseball team. The Nor’easters baseball team chose Springfield because of the advantage of having the distance from any major league game venue. The owner of the team‚ Jimmy Mercante‚ needs the Nor’easters to bring in enough revenue to be able to run itself‚ other than some fixed expenses
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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
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Minor League baseball is much simpler form of baseball than what a lot of people watch on TV at the major league level. Minor league baseball is more of a local business due to their local popularity and finances. The recent problems with the economy have hit the Long Island Ducks very hard. I’m going to recommend three new strategies to implement this season to build business not only this season but in seasons to come. This season I would like to introduce Duck Nation. Duck Nation is a is a group
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Springfield Nor’easters Group 9 Larry Buckingham‚ Marketing director for Nor’easters‚ a new Class A minor league baseball team in Springfield‚ Massachusetts had been to come up with the pricing strategy for tickets. Challenge for him is to achieve break even on the first year‚ also by handling the marketing strategies for the team‚ and all above the following. 1. Springfield is more economical‚ they are concerned about their spending. 2. Ticket revenue should be from mix of season tickets‚ group
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Kevin Tame Business Research 2/23/2010 Springfield Nor’easters Case #1 Evaluate the research survey undertaken by the League Sports Association and by Larry Buckingham‚ Nor’easters marketing director. Consider each step in the process that led to the findings of the survey Buckingham started his research by using the League Sports Association survey done in 2005 and confirmed that families with school age children were more likely to attend sporting events. He also found that 73% of the audience
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