Toronto Blue Jayss case study
The Toronto Blue Jays baseball team was founded in the 1970s and experienced support from the fans during the 1970s and 1980s. In 1992 and 1993, the Jays won back-to-back World Series, yet in 1994, the team faced setbacks. The team had a losing streak, there was a major league baseball strike, and no World Series was played. At the same time, gambling came to Toronto, and the team had to compete for the fan's time. Also, players' salaries skyrocketed at a time when the Canadian dollar fell in value. How could the Toronto Blue Jays adjust ticket prices to improve financial performance and increase fan attendance?
Situation Analysis
The opening pitch of the 1999 marks the start of the Toronto Blue Jays twenty third seasons in the American League. In 1998, the Jays brought in their first winning season since 1993. The Jays plays in the worlds most advanced retractable-roof stadium. It is luxuriously called the Sky Dome. With a winning record like this and a state of the art stadium, the Jays feel their tickets are a great value because of the satisfaction fans can expect to receive from the ball game.
Recommendation
· Price is that which is given up in an exchange to acquire a good or service. Price is typically the money exchanged for the good or service. Blue Jays pricing structure is based on the perceived value of the game, the entertainment, the love of baseball, and the action, not just the money.
· Inelastic demand means that an increase or decrease in price will not significantly affect demand for the product. In spite of the rising prices for the Blue Jays tickets, fans were expected to turn out in large numbers. This inelastic demand for the tickets can be attributed in large part of the fact that their teams plays so well in 1998, and another factor is that the Blue Jays fan could never stay away from their team. Another inelastic demand for the Blue Jays tickets is that there is no other locally substitute team.
· Blue Jays pricing strategies are not just a financial necessity, they are also a promotional tool used to increase fan attendance. How? At all Saturday home game and nonholiday games, senior citizens and young people up to fourteen years old can purchase tickets except for the most expensive ones.
Ticket prices can have a major impact on professional sports. The difference in ticket prices are what helps and hurts attendance at professional sporting events. When it comes to ticket prices there are many factors that can affect the price per ticket. In this review there are three main categories that are being focused on: (a) attendance, (b) pricing strategies and (c) ticket sales. Each category has different factors that affect ticket prices differently. In attendance, there was the economic crisis that started in late 2007. Strikes can happen at any time in professional sports. There is also the probability about the opposing team and its affect on ticket prices for those events. For pricing strategies, there are two main strategies that can be used for a professional sports team: (a) variable pricing and (b) dynamic pricing. The final factor discussed is the team’s decision process of setting ticket prices. There are four main areas that are being reviewed for ticket sales: (a) tactics used to increase ticket sales, (b) team owners’ role, (c) second hand ticket markets, and (d) price inelasticity. This review will show substantial evidence in each category that affects ticket prices for professional sports in America.
The first example of irony occurred in chapter two. Jack says to the group of young, impressionable boys that "We’ve got to have rules and obey them. After all, we’re not savages."(Golding 32)However, in the following chapters Jack is the leader of the tribe and encourages the boys to forget civilization and act upon their primitive instincts.
Have you ever wondered why do prices end with .99 or why it is that business are always making some kind of deal? Are these deals as beneficial as the customer thinks they are? What about the items priced higher than usually. Most people tend to think the higher the price the better quality right? Well, these are some of the topics this paper is going to help you better understand. Price points, Prestige Pricing, and Odd-evening pricing are all common price games used in the business world today. Price points are the different prices stores use to manipulate the consumers into buying what they want them to buy. I am sure everyone has wondered exactly what goes into the pricing of the items they purchase or what is it about these deals that keep luring me into the stores. Price gaming is a tricky business and businesses love how well it can manipulate the customer into believe and thinking a certain way. Showing you these three common price games will help you better understand and help you evaluate your purchasing decisions a little better.
There are many theories when it comes to humor. The superiority theory of humor argues that people laugh at other’s misfortunes and shortcomings to assert their own superiority (Morreall). Additionally, in the Relief Theory, humor
*The causes of changes in supply and demand are people's behavior to cost and benefits. This means that when people realize that the costs of an activity have raised or the benefits of an activity reduced, people execute the activity less because the common fact...
The basis of this strategy is that each seat will bring a different value to the customer. For large event, there is a wide range of willingness to pay (WTP) for tickets, each associated with different demographics. This strategy will allow more people to purchase at their WTP. If all seats were charged at the same price, everyone would rush for the best ones. However, if a tier pricing strategy
Price discrimination is part of the commercial and business world. Movie theaters, magazines, computer software companies, and thousands of other businesses have discounted prices for students, children, or the elderly. One important note though, is that price discrimination is only present when the exact same product is sold to different people for different prices. First class vs. coach in an airline (though sometimes just differing in how many free drinks you can get) is not an example of price discrimination because the two tickets, though comparable, are not identical.
Many literature pieces are written to inform or entertain readers, but there is often humor found in them. Something can be considered humorous if some laugh at it. In Shakespeare’s play, Romeo and Juliet, Sampson bites his thumb at Abram. To bite one’s thumb is equivalent to flipping someone off, so this situation may appear funny to one person while offensive to another. The British novelist J.K. Rowling often uses humor to draw away the reader from the drastic turmoil Harry Potter faces. In one of her many novels, Harry Potter and the Prisoner of Azkaban, the students are practicing
Meanwhile, price strategies are important to be considered by every marketer before market a new product into a new market. Basically, the price is the amount a customer pays for the product. It is determined by a number of factors including market share, competition, material costs, product identity and the customer’s perceived value of the product. The business may increase or decrease the price of product if other stores have the same product.
Washington Irving uses Humorous Tone to convey his attitude toward his subject, characters, and readers. The humorous tone keeps us from taking the act seriously. The first humorous tone I came across was 'Suddenly he heard a groan—his teeth chattered and his knees smote against the saddle.'; Here Irving displays a mildly humorous tone to take our minds off of the Gothic element that are going to occur.
The price of the game can tell you a lot of things but can a good story line be the source of expansive pricing. In the Half life franchise you are playing as Gordon Freeman a scientist that was involved in the wormhole incident that took place at the Black Mesa facility. the wormhole opened to another dimension and the aliens invaded the Earth Gordon survived the invasion and escaped the Facility. That day the War has started between the 2 species. This plot is v...
...ld be seen as eating the muffins to satisfy his sexual hunger which again is evidently humorous through the use of inversion.
Pricing is a challenge with different implications at any stage of the business cycle, whether you are setting the prices for the first time, raising or lowering existing prices, or determining how to react to an unsteady economic climate. Overprice and you will risk losing your business to your competitors. Under price and you may inadvertently devalue your offerings.
Pricing strategy : A number of factors enter into retail pricing. They are important in varying degrees, and the retailers should take them all into consideration in arriving at the prices he will finally set. A retailer cannot sell below cost for any length of time without seriously impairing his financial resources; and except in unusual circumstances, the pressure of competition will not permit him to make a large profit indefinitely. Cost plus a reasonable profit is, therefore, the best general rule for price setting.
down on costs, which will in turn enable them to sell tickets at a much