Of all the functions of marketing, one could arge the establishment of an effective price point could be the most critical.
Teams across sports consistently tinker with pricing strategies in an effort to find the right formula for maximizing franchise revenues. Â Sometimes those strategies work, sometimes they backfire.
Two seasons ago, the New Orleans Pelicans dropped ticket prices by 10%. Â The decision resulted in a 19% overall increase in ticket sales that season. Â And this season, as the Brooklyn Nets face the prospect of a challenging season on the court, Bloomberg hasÂ reportedÂ the franchise will reduce ticket prices by an average of 24% in 2016-17.
Earlier this year, BusBud published an interesting infographic that examines NBA ticket prices and offers some interesting comparisons. Â Which teams offer the greatest ROI? Â When is the best time to buy? Â These questions and more are discussed in the graphic below.