The Fan Cost Index (FCI) is a statistic used to measure the average cost of a family of four to attend a sports event. Included in this statistic are the average ticket price for four averaged priced tickets, four hot dogs, two small beers, four small soft drinks, parking for one hour, two hats and two game programs (Greenberg, 2014). The FCI for the NBA during 2015-2016 was just over $339. The NBA has the third lowest FCI of the four major professional sports in North America. Only the MLB was cheaper. According to Team Marketing Report, the other three FCI’s are as follows: NFL: $502.84 NHL: $363.58 MLB: $219.53 Other than ticket price, the other FCI components are relatively close in price. The average price for an individual ticket in …show more content…
Star power is the driving force in the secondary market, increasing demand and fan attendance. Team success and popularity also play a role in secondary market prices. The Los Angeles Lakers, though mediocre, are consistently in the top half of the NBA for average attendance. The face value of a single game Laker’s ticket in the upper sideline section 301 is $50. For the Laker’s last eight home games of the 2016-2017 season the average price on the secondary ticket seller Ticketmaster.com is $53. The average price when bought directly from the team is $65. The price variation on the secondary market averaged about $6, with lows and highs of $46 and $66 respectively. This price variation is derived primarily from the demand to see the Laker’s competition. The $66 game is against the Los Angeles Clippers, the Laker’s in city rival. The Laker’s have one of the best sport markets in the country, along with a historic franchise and large fan base, the team never fails to sell season tickets. With a high demand to see Laker basketball, when tickets make their way to the secondary market, prices stay closer to face value to ensure a profit for the
During the 2016-2017, the Mavericks examined the ‘inverse analytics’ data and their staff realized they would be a losing team for some time. In order to keep fans interested in attending their games, they lowered their average ticket price to $65 per game, which was the seventh cheapest out of any NBA team at the time (Hoopfer, 2017). The Mavericks ticketing office also creates irresistible deals for their fans. For instance, during one game in February 2016, the Mavericks were selling tickets for $5 if fans came 30 minutes before tipoff or earlier (Hoopfer,
Retaining the current fanbase that we have held in Oakland for many years will be a tough task to complete. Many of these fans feel betrayed by the fact that even though they were a loyal fanbase, we were not loyal to them. To keep ticket sales up, there have to be incentives for fans to come through the gates. The average price for a ticket during the previous 2016 regular season was around $85. This will have to be lowered drastically to an average of
Baade, R. A., Baumann, R., & Matheson, V. A. (2008). Selling the game: Estimating the economic impact of professional sports through taxable sales. Southern Economic Journal, , 794-810.
of price versus service in the airline industry as a whole, as well as, the
Despite bearing differences, the similarities between Snowflower and the Secret Fan and Life of Pi are crystal clear. Some being, both the character Pi from Life of Pi and Lily from Sunflower and the Secret Fan grow as a character throughout the novel, Lily and Pi also have a strong yearning to live. In contrast, a difference in the two novels is that Sunflower and the Secret Fan is written from a young girl’s perspective, as Life of Pi is written from an adolescent boy’s point of view.
This price is set between the bid/asking price of $3.94/lb that included the delivery cost of $.60/lb and our reservation price of $3.15/lb. This is the price at which we hope to conclude our negotiation. 3. The reservation price is $3.15/lb, this is the lowest price that we will sell to Statler for the deal. This price represents a loss of about $0.20/lb, but this loss is approximately an $1,100 investment in publicity.
Noll, Roger, and Zimbalist, Andrew. Sports, Jobs, and Taxes: The Economic Impact of Sports Teams and Stadiums. Brooking institutions press, Summer 1997. Vol. 15 No. 3.
Disney institutes different pricing ranges during different times of the year. The reason why Disney does this is to make “an effort to better even out demand amid growing attendance” (Fritz). At certain times of the year; holidays, summer, and etc., Disney has a high demand for tickets, so they make their prices higher. Disney has changed their pricing by the time of year, “three sets of prices: value, regular and peak. Those categories will typically correlate to weekdays (value); weekends and summer weekdays (regular); and holiday periods and summer weekends (peak)” (Fritz). Disney does this type of pricing to eventually help smooth out the demand during the seasons
Due to the various options of distribution channels their prices vary. Consumers take that into consideration when purchasing their products.
Second, market growth, which is measured by attendance at NBA games, has leveled recently, so increasing competition among teams for a fixed number of fans.
The home court advantages are the most significant social psychological affect. And we all know the home court may have big advantage in the game. But how can the home court effect the game and players. In fact from the NBA 2004-2005 seasons data(Entine& Small, 2008), we can easily find that the lack of rest for the road team is an important part on the game. Even though it is not a dominant factor, it is a potential factor. From the statistics we can easily know the data about the winning percentage of the home team and road team. From the statistics. The author tell us the traveling team has a schedule which provides fewer days of rests between games, and that just being on the road an extended number of days could lead to a decrease in
Lower prices draw a larger audience. When tickets are inexpensive and in high-demand, audiences are drawn to that event, thus creating a
Salanti, A., Malighetti, P., Redondi, R., 2012. Low-cost pricing strategies in leisure markets. Tourism Management , 33, 249-256.
...ar. 2). Airlines and bus companies are also equating the extra fuel costs into their ticket prices.
Sports are one of the most profitable industries in the world. Everyone wants to get their hands on a piece of the action. Those individuals and industries that spend hundreds of millions of dollars on these sports teams are hoping to make a profit, but it may be an indirect profit. It could be a profit for the sports club, or it could be a promotion for another organization (i.e. Rupert Murdoch, FOX). The economics involved with sports have drastically changed over the last ten years.