Describe the pricing strategies that will be used

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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 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 1-year, self-imposed, postseason ban.

Analyze current and historical ticket pricing data on comparable universities in the Big Ten Conference. Some similar schools include Maryland, Michigan State, Wisconsin, Ohio State, Penn State, Iowa, Rutgers, Michigan, Indiana, Purdue, Minnesota, Northwestern, and Nebraska. 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 analyzed data describe the pricing strategies that will be used. Pricing strategies should include multiple tiers that consider factors like the quantity purchased and fan loyalty.

Reference no: EM133449619

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