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For an upcoming men’s basketball season at a public, Division I University in Illinois, ticket prices need to be determined in order to maximize revenue and stabilize the school’s brand. The school’s team is fairly popular with several past appearances in the postseason tournament and two of the premier players returning from last season. There is now a new head coach who was a former professional player, but is new to college coaching. In addition, the team was recently made eligible to return from a one year, self-imposed, postseason ban.
To successfully complete this assignment, you will need to collect ticket-pricing data on the comparable universities in the region. Acceptable data factors include, but are not limited to, pricing options based on the status of competitors, venue-seating options and availability, and the economic conditions and demographics surrounding the university. Other variables to consider may be the day of the week the games are offered, the potential weather considerations, and various promotional opportunities.
Based on the data acquired, write a 750-1,000-word executive summary that describes a strategy for pricing tickets. The summary should include revenue objectives, plans for maximizing fan attendance, and pricing strategies. Pricing strategies should include multiple tiers that consider factors like the quantity purchased and fan loyalty. Be sure to reference the data acquired to substantiate the objectives, plans, and strategies.
Prepare this assignment according to guidelines found in the APA Style Guide, located in the Student Success Center. An abstract is not required.
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