Week 13 (Final) Flashcards
1
Q
Box Office Primary Concerns
A
location, physical space, visibility
2
Q
Role of the Box Office
A
s
3
Q
Festival Seating
A
s
4
Q
All-Seaters
A
s
5
Q
Price
A
Price is the exchange value of a good or service and the value of an item in the marketplace
6
Q
Satisfaction eq.
A
benefits-cost
7
Q
Marketer’s Sense of Price
A
s
8
Q
Consumer’s Sense of Cost
A
s
9
Q
Fan Cost Index
A
s
10
Q
Internal Factors
A
product promotion distribution cost organizational objectives
11
Q
External Factors
A
consumer demand
competition
legal economy
technology
12
Q
Market Demand and Elasticity
A
It exists when a given percentage change in price results in a larger percentage change in quantity.
Increase in price will mean decrease in profits.
Ex. soccer, baseball, NHL
13
Q
Elasticity of Demand
A
product necessity or luxury product substitute availability frequency of purchase proportion of income available for a specific product economy brand loyalty competition (quantity and quality) quality of the product time frame of demand
14
Q
Pricing Factors
A
Market demand Lead time User segmentation Time & Place issues Actions of competitors
15
Q
Break Even Analysis
A
Determines the # of units to sell at a given price to break even
