Term Definition
Price The amount of money charged for one unit. Ticket prices should reflect what customers are willing to pay
Revenue The money collected in sales. Revenue is equal to (number of unit sales) ? (price of each unit). A sports franchise has a number of revenue sources, including ticket sales, concessions, licensing, and sponsorships
Demand The amount of goods or services that customers want to buy. Ticket prices for a sporting event should be determined by the demand that exists for that event
Yield management pricing Setting different prices for goods or services in an effort to maximize revenue when limited capacity is a factor
Dynamic pricing A system of fluid not fixed ticket prices that increase or decrease due to small and/or short-term changes in supply and demand. Dynamic pricing is facilitated by the Internet and mobile technology
Marginal cost The cost of producing one additional good or making one more of a commodity (like a seat at a stadium) available
Ticket brokers Individuals or companies who purchase tickets in bulk to artificially constrict demand and drive up prices
Ticket agencies Companies that stadium owners use to manage their ticket sales
Ticket Pricing

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