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

 

 

 

 

23,373 thoughts on “Sports Stadium RM”

  2. 키워드 토토 이용자 라면에 유의할 사항이 있습니다. 위험 사이트를 방지하기 위해서는 검색할 수 있는 사이트를 선택해야 합니다. 안전한 사이트를 선택하기 위한 시야를 확보하기 위해서는 넓은 시야를 확보해야 합니다.

    안전한 사이트를 선택한 후에 실제로 사용, 이용하는 과정에서 주의해야 할 사항이 있습니다. 토토 서비스를 사용해야 할 때 해당 사이트의 주의사항을 반드시 확인해야 합니다. 또한, 사이트의 먹튀 및 인출 시스템을 분석하여 안전하고

    빠른 환전이 책임 되고, 수수료나 제한 사항이 있는지 확인해야 합니다.

  3. 안전놀이터 토토 이용자 라면에 유의할 사항이 있습니다. 위험 사이트를 방지하기 위해서는 검색할 수 있는 사이트를 선택해야 합니다. 안전한 사이트를 선택하기 위한 시야를 확보하기 위해서는 넓은 시야를 확보해야 합니다.

    안전한 사이트를 선택한 후에 실제로 사용, 이용하는 과정에서 주의해야 할 사항이 있습니다. 토토 서비스를 사용해야 할 때 해당 사이트의 주의사항을 반드시 확인해야 합니다. 또한, 사이트의 먹튀 및 인출 시스템을 분석하여 안전하고

    빠른 환전이 책임 되고, 수수료나 제한 사항이 있는지 확인해야 합니다.

  4. 19Dewa merupakan situs login dan daftar game paling seru yang dicari oleh para pemain games online di indonesia tahun 2024 karena sering memberikan banyak promo dan bonus serta gampang . 19dewa

  5. I am glad you take pride in what you write. This makes you stand way out from many other writers that push poorly written content. slot88

  6. 19Dewa adalah situs server kamboja terbaru platform game online populer yang menawarkan berbagai macam permainan dan pilihan hiburan kepada penggunanya. 19dewa

  9. I recently came across your blog and have been reading along. I thought I would leave my first comment. I don’t know what to say except that I have enjoyed reading. Nice blog, I will keep visiting this blog very often.
    canes coupon codes

  11. Puravive Reviews – PURAVIVE – (❌YOU NEED TO KNOW THIS❌) Puravive Official Website – Puravive Review

  12. This is a good post. This post gives truly quality information. I’m definitely going to look into it. Really very useful tips are provided here. Thank you so much. Keep up the good works.
    asap promo code

  40. 303Hoki merupakan agen situs server thailand terbaik karena sering memberikan kemenangan besar kepada pemain lama dan pemain baru serta bermain di 303hoki hanya butuh 1 id sudah bisa jadi sultan. 303hoki

  42. Nofs Tracksuit is a comfortable two-piece outfit perfect for athleisure wear or lounging at home. The hoodie and sweatpants are made of a soft poly-cotton blend fabric with ribbed cuffs and hem for a stylish fit. Elastic waistbands and drawstrings allow you to adjust for the perfect level of comfort. Zippered pockets provide storage space for small essentials.

  43. What a fantabulous post this has been. Never seen this kind of useful post. I am grateful to you and expect more number of posts like these. Thank you very much. dewapokerqq

  44. This is my first time i visit here. I found so many interesting stuff in your blog especially its discussion. From the tons of comments on your articles, I guess I am not the only one having all the enjoyment here! keep up the good work dewapokerqq

Leave a Reply

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