by

Sports Stadium RM

Revenue management of sports stadiums are rather challenging due to several obvious reasons. Events/games are only held once a week, once a month, or even just couple times per year depending on the location and the functionality of the stadiums, which is why it is very important to implement sophisticated pricing strategies in order to maximize revenue on the days when events are held. Also, major sports teams’ stadiums are rarely rented out for purposes other than its own sports games (i.e. basketball, baseball, soccer…etc). Whereas other stadiums are used for various events such as music concerts and award ceremonies from time to time.

There are significant differences between RM of sports stadiums compared to the more traditional sectors such as the airline industry. Whether you sit in the 10th row or the 20th row in Economy have minimal difference (there are, of course, differences between Economy and Business class). However, whether or not you sit in the far back row with limited view to the sports ground creates a world of difference to your overall experience when watching a sports game. Flying on a plane may be a part of your necessity to travel from A to B, but watching a sports game in a stadium is about the “experience,” and therefore the perceived value depending on the location of the seats vary immensely.

Implicit Use of Space

How are the space divided in sports stadiums?

    • By location of seats
    • Regular seats vs. Enclosed suites with multiple seats
    • By supporting team

Club-level seats

What are the common sources of additional revenue?

  • Souvenir shops selling team-specific sports gears
  • Most of the premier league soccer teams’ stadiums have museums and tours: visitors even come to the museum on non-game days as well. High numbers of tourists visit the museums in Western European countries
  • Dining places (concessions)
  • By renting the space for music concerts-picture (per event)
  • By holding other sports events (i.e. Olympics)
  • Media access charges
  • Advertisement

Chelsea Megastore within Stamford Bridge stadium

Chelsea Museum located within Stamford Bridge stadium

Sports stadium being utilized as a concert venue

 

How can companies split up the space differently?

 

  • “Quiet” vs. “Loud” seats: I noticed that some sports supporters prefer to sit throughout the game whereas some people like to stand and cheer actively for their teams. Setting aside few rows in each section to those more reserved supports may be effective.
  • Create more seat classes: frequent visitors (fans) are likely to be less sensitive to the ticket price, so companies can create more club seats (even create another class between the club seats) and add more varied classes depending on the location and the view from the seats.

Implicit Use of Time

How can companies sell the space explicitly?

  • Selling tickets with time limits: This strategy can be very attractive for tourists visiting well-known stadiums or important games such as the World Cup. It would work quite well especially for soccer games. For example, customers will buy tickets for the first-half or and second-half o f the game which will be 45 minutes each. If the full-time ticket is $80, companies can charge $50 for customers purchasing 45-minute tickets.
  • Companies can sell a specific seat at a certain stadium by year, month, or season (leasing private seats)

Price

What are the physical rate fences in sports stadiums? 

  • Location of the seat: proximity or the angle of the view to the sports ground
  • Rates for suites differ based on the physical size of the space (maximum capacity): http://www.executiveclub.manutd.com/en.aspx (You’ll notice that almost all executive suites are sold out for this season despite the high rates)

What some of the non-physical rate fences?

  • Purchases of tickets via third party sellers: http://www.worldticketshop.com/tickets/chelsea_tickets
  • On-line vs. Ticket office purchases
  • Club Membership status
  • Season ticket holders
  • Importance of events: For example, the average seat price for premier league games are more expensive compared to championship league games
  • Performance of the teams
  • Stadium’s location (accessibility) and the age of the facilities

How can companies generate additional revenue by using creative rate fences?

  • Implement bundle selling: price per seat would be more expensive when purchasing one ticket compared to purchasing two or more tickets
  • Early reservations should be entitled to discounts
  • I believe that companies can start utilizing extensive Customer Relations Management (CRM) in the sports industry by using the personal data gained via increase in on-line ticket purchases and use direct marketing. Companies should implement other rate fences possibly based on the different personalities and characteristics of the customers.
  • Companies can upsell those customers reserving suites by offering extensive catering options & extended time before and after the game for extra fee (most stadiums offer the suites per event currently)
  • When the time gets closer to the actual day of the game, odd 1 seats that are left in between other reservations can be sold at more friendly rate

 

 

 

 

13,496 thoughts on “Sports Stadium RM”

  2. Looking for a reliable Scrap buyer in UAE? Look no further! At We Buy Dead Stocks, we are your go-to destination for efficient and hassle-free scrap purchasing services. With our extensive expertise and commitment to customer satisfaction, we ensure a seamless experience when it comes to selling your scrap materials.

  5. Welcome to We Sell Dead Lots, your ultimate destination for high-quality used breakers for sale. Our curated collection of equipment is designed to cater to a wide spectrum of industrial requirements. Whether you’re seeking efficiency, durability, or performance, we deliver solutions that make a difference.

  7. Our Burnaby realtors have a deep understanding of the local market. Whether you’re buying or selling property in Burnaby, our dedicated Realtors are here to assist you. Explore our listings and experience the best in Burnaby real estate with us.

  9. Situs ajaib slot terpercaya terkenal dengan fitur layanan transaksi yang sangat baik seperti pulsa, e-wallet, dan perbankan. Selain itu juga dikenal untuk membagikan promosi dan bonus dengan bocoran ajaib slot hari yang menawrkan tingkat kemenangan tertinggi. Selalu ada cara terbaik untuk memenangkan game daftar ajaib slot bersama kami.

  12. That is why selling advertising campaigns marketing so that you could invaluable explore previous advertisment. Quite simply to jot down stronger set that fit this description. 佐敦補習

  18. This is a shrewd blog. I would not joke about this. You have such a great amount of information about this issue, thus much enthusiasm. You likewise realize how to make individuals rally behind it, clearly from the reactions. 女士 脫髮 維他命

  20. Discover affordable VPS Windows servers tailored to your requirements. Our hosting service offers cost-effective solutions for running Windows servers, providing you with dedicated resources, scalability, and the ability to install Windows-compatible software. Experience the power of Windows server technology combined with the convenience of a virtualized environment. With our cheap VPS Windows servers , you can rely on top-notch performance, reliability, and round-the-clock support.

  21. BSNS Consulting offers comprehensive Digital Marketing Services in Pakistan, tailored to your business needs. From SEO and content marketing to social media management and paid advertising, our team crafts data-driven strategies to amplify your online presence. Experience measurable growth and a strong return on investment with our dynamic digital marketing solutions.

  24. Right away this website will probably unquestionably usually become well known with regards to most of website customers, as a result of meticulous accounts and in addition tests. 먹튀사이트

  26. When I initially left a comment I appear to have clicked on the -Notify me when new comments are added- checkbox and from now on each time a comment is added I receive 4 emails with the exact same comment. Perhaps there is a way you are able to remove me from that service? Appreciate it.캡틴토토

  37. A Fast Windows VPS refers to a virtual private server running the Windows operating system that offers exceptional speed and performance. This solution is designed for users who require swift and responsive computing, making it ideal for resource-intensive applications and tasks. With optimised hardware and robust infrastructure, a Fast Windows VPS ensures seamless operations, minimising latency and delays. Whether for gaming, development, or business applications, this VPS variant guarantees swift data processing and smooth user experiences. It combines the advantages of Windows compatibility with high-speed server capabilities, meeting the demands of users who prioritise efficiency and responsiveness in their virtual environments.

  39. The term Cheap Windows VPS $5 denotes a Virtual Private Server (VPS) running on the Windows operating system available at a low cost of $5. This option caters to users who require Windows-based hosting with limited financial resources. By providing a cost-effective solution, this Cheap Windows VPS allows individuals or businesses to deploy and manage applications, websites, or services on a Windows platform without a significant financial investment.

  40. Looking for an affordable Windows VPS solution? Look no further! Our company offers the cheapest Windows VPS plans available in the market. With our budget-friendly options, you can enjoy all the benefits of a Windows virtual private server without breaking the bank. Whether you need it for personal or business use, our cost-effective Windows VPS plans provide excellent performance, reliability, and flexibility, allowing you to run your applications and websites seamlessly.

  41. Looking for the perfect place to call home? Explore a wide range of apartments Condos for sale in prime locations. Find your dream property with our expert real estate team’s guidance.
    Our listings feature diverse options in prime locations, ensuring you find the perfect property to call home.

  44. Girl gift baskets are beautifully arranged collections of gifts intended for baby girls. These baskets typically contain items like cute baby girl clothing, soft blankets, plush toys, and other baby essentials, presented in an eye-catching basket.

  48. May I just say what a comfort to uncover someone who really understands what they are discussing on the web. You definitely realize how to bring a problem to light and make it important. A lot more people need to check this out and understand this side of the story. I was surprised you are not more popular since you certainly possess the gift.카지노사이트

Leave a Reply

Your email address will not be published. Required fields are marked *