Spring Final - Sports & Entertainment well answered already passed

Spring Final - Sports & Entertainment
well answered already passed

What is the main product a stadium sells?

A: Tickets

B: Parking

C: Concessions

D:All of the above - correct answer ✔✔A: Tickets



Ticket prices are subject to which law?

A: Size and volume

B: Supply and Demand

C: Timing

D: Law of the jungle - correct answer ✔✔B: Supply and demand



Do stadiums charge different prices for different seats?

Rarely

Yes, almost all the time

Never

All of the above - correct answer ✔✔Yes, almost all the time



What is it called when different seats are priced differently?

1) Cost-based pricing

2) Yield management pricing

3) Variable pricing

, 4) Tapered pricing - correct answer ✔✔2) Yield management pricing



Ultimately, what does stadium management want to maximize?

1) Entertainment

2) Fun

3) Number of seats

4) Revenue - correct answer ✔✔4) Revenue



What is the term for the cost of providing an additional number of seats, such as seats on the
floor during a concert?

1) Marginal cost

2) Extra cost

3) Variable cost

4) Total cost - correct answer ✔✔1) Marginal cost



What do we call the companies or individuals that buy tickets in bulk and resell them?

1) Brokers

2) Advocates

3) Agents

4) None of the above - correct answer ✔✔1) Brokers



What do we call the companies that stadium owners use to manage their ticket sales?

1) Brokers

2) Advocates

3) Agencies

4) All of the above - correct answer ✔✔3) Agencies