Kendrick Peters
Consumer Satisfaction Of Professional Sports Ticket Prices
Date: May 28, 2015
From: Kendrick Peters
Subject: Proposal on if ticket prices are to high for professional sporting events
Purpose:
The purpose of this research study is to see if ticket sales of professional sports across the board are being over priced, and if this is causing a lower consumer satisfaction causing people to stay at home and watch games on television.
Summary:
When it comes to sporting events there is nothing like seeing your favorite stars in real life action. Professional sporting events pricing of tickets and generating the correct amount of ticket revenue depends on many key factors. These factors and key decision-making on the management’s part can lead to the livelihood of the franchise.
As we know, there are many complaints by the consumer on the overpricing of professional sporting events. Management has to deal with these complaints daily and make vital decisions to keep their franchise running efficiently. One of those key factors is finding out the demographics of your surrounding areas franchise. Some of the aspects of geographic areas that must be looked into are GDP per captia. Another aspect that must be looked at is the median age of the surrounding area and finding out your target audience. Another factor that is hard to put a valuation on is if you have star players on your franchise how much is this going to affect the price of each ticket.
This has led to growing concern of losing consumers because of overly high ticket prices and having the option of streaming the game at home on live television. A research study has been conducted by ethnographic qualitative evaluation of the surrounding population of Christopher Newport students. A survey will be conducted to engage how higher ticket prices can effect the mindset of the consumer when purchasing tickets. Some of the questions that will be provided on an online survey are giving question such as what ticket price would you prefer for this sections of seating, would offering a meal package for a ticket allow you to pay a higher price, how often do you attend our games, would a certain promotion night cause you to pay a higher price, would package deals for tickets be more accessible for you, List in rank of importance of proximity to the playing field, food option, promotional give aways, entertainment during breaks, chances to be entered to win concerts, and also would the chance of meeting a star player convince you to pay more. This research will lead to a recommendation for professional sporting event ticket prices on how the sports industry can persuade more viewers at home to come to games.
