Running Header: PRICING STRATEGIES

Pricing Strategies

Pricing Strategies

Introduction

Pricing strategy is important to any product or service, including professional sport events. Ultimately, the goal of any for-profit company is to maximize profits. Pricing strategy plays a significant role in ticket sales, the secondary ticket market, concessions, and sports merchandise, and their contribution to the sports franchises profit. Although no one strategy will always meet management's objectives, a dynamic pricing model that incorporates key market-based influences and that can use real-time information should be the approach of choice.

Discussion

Price Determination

Price is the only marketing decision variable that directly determines revenue. Marketing decision variables are those variables ...