Complete Case details are given below :
Case Name : Hanson Production: Pricing for Opening Day
Authors : June Cotte, Peter Famiglietti
Source : Ivey Publishing
Case ID : 910A11
Discipline : Marketing
Case Length : 14 pages
Solution Sample availability : YES
Plagiarism : NO (100% Original work)
Description for case is given below :
The president of production at Hanson Productions, an off-Broadway production company, was faced with the same situation for every Broadway production: where to locate, how many seats, what to charge and how to promote and market the production. There are three separate venues, with three separate value propositions to the studio, case and audience. While bigger means more seats and more revenue for each show, there is a capacity percentage that must be factored in to the decision due to the increased rental costs. Smaller venues may lead to higher capacity percentages, but ultimately leave money on the table. The ticket prices must be set for advance sales; any change in price after this period will effectively hurt future sales – more so if the price is discounted. Determining a promotion partner may lessen the risk of a potential failure, yet cost more profit and affect the recoup schedule.
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