Marketing Strategy and Plan: Analysis of Ticket Pricing and Audience

This report delves into various marketing strategies employed in business, with a specific focus on factors determining pricing policies, such as competition, demographics, and availability. The analysis includes findings from a research survey examining audience composition across different professional sports, considering education and income levels. The report explores the impact of pricing on audience engagement, analyzing different ticket pricing plans and their potential to attract diverse customer segments. The strategy assumes that offering different ticket packages can boost profits and customer satisfaction. It also considers factors like concession sales and the importance of promotion and corporate sponsorship to maximize revenue and audience turnout. The conclusion emphasizes that a well-defined pricing policy, considering competition, demographics, and the team's potential audience, is crucial for business success.

Running head: MARKETING STRATEGY. 1
MARKETING STRATEGY AND PLAN
NAME:
PROFESSOR:
INSTITUTION:
COURSE:
DATE:

MARKETING STRATEGY 2
ABSTRACT
The essay is generally talking about the different marketing strategies used in business. Some of
the factors determining price policy are competition, demographics such as age and sex, and
availability. Marketing strategy is a business plan that shows the overall game plan on how you
find and attract customers to the business.

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Marketing Strategy
Findings of the research survey
The research survey was grouped in different categories:- total percentage exposed during the
past year by education, income composition of audiences of four professional sports, education
composition of audiences of four professional sports, and response rate by the list of postcard
mailing.
The total percent exposed in the past year by education was further grouped into the college
graduate, same college, high school graduate and same high school. Among the four games used
in the study, people from the same school had the highest percentage. Baseball had the highest
percent among the respondents.
At the level of income composition of audiences, the group of audience with $45,000 to $74, 999
scored the highest percentage in the four different games. The audience at the level of $75,000
and above had the lowest percentage in the four games compared with the other groups.
The survey established that among the response rate for the postcards mailing, the level of
college football individual and season ticket buyers had a net response of 7.6%. This was the
third lowest in the list of postcard response. Minor league hockey team, individual, and season
ticket buyers had a net response of 6.1%. The two list of sources as well scored the same the
same in the list cost, per thousand names. 62% of the respondents said want turn up for minor
baseball team if it came Springfield.
The factor to consider during pricing policy
Competition- the director emphasized the reason to charge seats on par the competition Pricing
is affected by the region the sporting activity is based . Regions with economically average
people, the dollar will be highly taken care of by the people.
Popularity- minor league had a good turnout due to its popularity. This was contributed by the
176 minor league baseball team that all drowned from the 19 regional leagues. The popular
products have high demand and hence creating shortage their supply.

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Affordability- offering products at different prices attracts customers with different financial
ability. The lower the ticket, the higher the turn-up. This necessitated the need to have different
of charges in per games to be watched.
Availability – the tickets picking points directly affects the prices. Close picking points lead to
the likelihood of its high purchases. Comparison between those who walked to the purchase
point and those who used public vehicles affects purchase power of consumers. The less the
distance the higher the purchasing power.
The team’s potential audience- this was done through the understanding of the social behaviour
and demographic features. Some of the demographic features put into consideration were: -
education, age, sex and income. The population composed of youths in high propionate has a
high affinity to the sports.
Regions with high-income earners will tend to buy expensive tickets as compared to regions with
low-income earners . Employed people will set aside some refreshment resource leading to the
higher purchase of the ticket. This, in turn, will affect the demand for the ticket by increasing it
and hence shortage arises and supply as well decreases. The regions with highly educated people
will purchase the ticket as they all know the importance of the sporting activity.
Corporate sponsorship- sporting activity supported by corporate tends to sell their ticket at a
lower cost. The corporate meets some of the costs required and in return advertise their
commodity. Most of the leagues are supported by the corporate who directly sells products to the
Spector’s such as their products such as refreshers.
The ticket pricing plan for the Nor’easters
Ticket
type
Less $ 4 $4 $6 $8 $10 $12 $14
Single
ticket
0% 2% 5% 13% 31% 27% 22%
5 Games
ticket
1% 2% 3% 19% 36% 34% 5%
20 game
half-
1% 7% 23% 28% 25% 15% 1%

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season
38 game
season
18% 26% 20% 14% 11% 10% 1%
The assumption of my strategy
The assumption of selling tickets in respect to the different groups used to pay is to attract more
profit to the company and customers as well pay less for a purchase of a higher package .The
Buckingham should offer different types of packages in order to give discounted commission to
those who pay for the higher packages. This as well would discourage people from purchasing
chasing low package (single package) due to its higher expense. Availability of the different
packages as well offers chances to low-income earners to watch the game at their favourite
matches. Buckingham should take the advantage offering the grandstand seats. This is because
only a slight percentage responded nothing more.
Concession sales
The Buckingham assumption of concession sale is that some people will fail to turn up for the
matches besides the advance booking. This percentage of people is compensated by the sale of
single ticket purchased on the game day and this served as a logical expectation as long as ticket
prices were reasonable. The team may fail to reach break-even for the first year as the business
at times has competition and well welcomed. To overcome this, one requires to come up with
strategies like promotion, find corporate funding and advertise Buckingham regularly in local
channels. Buckingham could as well hire more qualified players to attract the audience who in
turn purchase the ticket.
Conclusion
In conclusion, price policy is total sales with respect to every game. Buckingham has to utilize
the strategy given in levels to have high turnover. Some of the factors to consider while setting
the policy are competition, demography and team's potential audience. Increase in supply leads
to the decrease in demand and in turn, increases the prices and vice versa..

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