San Francisco Giants: A New and Innovative Way to Price Tickets
From Darren Rovel, CNBC Sports Business Reporter
The future of sports ticketing pricing. For the San Francisco Giants, spring training ticket prices are based on current market value (supply and demand). Resource is Twitter (Darren Rovell, CNBC Sports Business Reporter).
Take a look at the web page link for Giants Spring Training ticket prices.
The economic term "market value" means the price at which an asset would trade in a competitive auction setting. Current market value is the price of the day. In a 2 paragraph response (a minimum of 5 sentences for each paragraph) answer the following questions. In paragraph # 1, write about 3 ways this applies to sports economics. Use your notes if you need to. List each one and explain each one. Be specific with your thougths.
In paragraph # 2, write about your thoughts on this new pricing concept. Do you like or dislike it? Why? When considering "current market value" and the fact that prices can fluxuate (up or down) daily, do you think it is fan-friendly? Why or why not? Be specific with your thoughts.
Please sign your name to the bottom of your blog entry.
this applies to sports economics by the sale of tickets. this could effect the number of tickets that consumers are willing to purchase because they know that they are getting the best value of the ticket. this could increase the amount of people that come to the giants games in the long run. this impacts the economics because now the baseball teams prices are more competitive with other activities that people may do instead of going to a game.
ReplyDeletei think it is a really good idea. i think that it will attract many more people to the games. the only thing that i think that the season ticket holoders will be skeptical because they dont know if they will end up over paying the price of the tickets. this would effect how the season tickets were sold. but in general i think that this is a great idea people are getting the best price they can on tickets and i think this will bring the demand up and closer to the number of tickets that they have ready to sell.
This applies to sports economics by the sale of tickets. it also can effect the franchise by the consumers willingness to buy season tickets. It could also help out the amount of people who show up at a Giants game if they know that there getting the best value out of there money. If the giants dont have enough supply then people might not demand for the products that there giving out.
ReplyDeletei think that it could really hurt them if people dont want to buy there tickets if they think pricing is going to go up. season ticket holders will think about buying season tickets because of this new policy. they might think that there paying more then they were buying tickets for in the past, and they might not get the most value out of there tickets.i dont think that it is very fan- friendly because there willing to raise prices if their current market value goes up, and there fans probably think that the franchise is thinking about themselves.
- Robell Mclean
The economic term "market value" means the price at which an asset would trade in a competitive auction setting. This marketing will affect the economics around the San Fran area. It will also not affect target marketing since baseball all ages love it! and income around the park will be a little frisky.
ReplyDeleteI like this new "current market value"! I think fans will enjoy becuase there will be some days that tickets will be real low. But this is also a double edged sword so ticket prices might also rocket it up. I do think this is Fan friendly. But like i said some days it wont be fan friendly becuase the econmy is like a roller coaster up and down.
JAKE CARWAY!!!!!!!!
This applies to economics because the supply and demand. If the demand for tickets go up then the price of the tickets will go up. Thier ticket prices for the spring games are pretty low which means either the demand for tickets isnt that high or the teams success isnt that good. As you can see in the chart the better seats are more expensive. You have to pay extra for better quallity.
ReplyDeleteThis to me is not friend friendly. Every game you want to know an accurate pricing for the game. If its always varrying then you cant really plan ahead. I do agree with the higher price tickets being the better quality seats. If you sit in the front row why should you have to pay the same amount as the people at the top.
Dominick Denbo
Demand quantifies consumer’s willingness to pay for a product. Demand is simply the relationship between price and the quantities demanded. Depending on where you are in the stadium relates to the price of the ticket. Factors other than price that determine the shape and location of demand function. People who don’t care about the money just want to be at the game will sit depending on where they can see or catch a homerun ball.
ReplyDeleteThe main demand shifters are fan preferences like where they want to sit, fan income which is how much the consumer is making, fan expectations like they want to see a good game and have food available to them.
The new pricing concept is smart because they sell tickets based on the opponent and how close the seat is to the game. People want to see the best teams in the league play because it’ll be a better game plus star power so when they come in town the price goes up and the fans are willing to pay more for a ticket. It’s very fan-friendly because the fans can buy tickets for games at any time and if the price goes up then they are getting to watch a better quality baseball game.
Alex Seitz
This is related to economics by pricing. If people don't want the product, it being a game against a certain opponent, then the price of the ticket will drop. Also, supply and demand relate this to article, as if demand increases for games, then supply decreases. And then there is
ReplyDeleteIt will be fan friendly - and fan driven - but that doesn't always make good marketing strategy. I dont think this is a very good idea. Since the Giants will be using Twitter and trending topics to manage the price of tickets, which could fluctuate daily due to wins and loses. This would change market value wildly and can possibly make the Giants lose millions, but it may also gain millions too.
-DeeDee
Market value is like the maximum ptice a buyer would pay and a seller would accept. this relates to sports marketing in ticket prices and such.If the ticket price is too high, customers wouldnt buy it and it would make sellers unhappy. So there has to be an agreement between the two and this is market value. Also the income you make depends on it. Where you live could be a factor; if you live near the rich while others live near the poor, it would be different. So i guess its balanced in a way
ReplyDeleteI like this new prcing concept since both ends of the deal are met well. I dont think it is fan friendly since the price goes up and down, it will frustrate the fans. market value is the the price at which an asset would trade in a competitive auction setting.
Ehsan Karimi
Selling tickets at market value is all about economics. The price of these tickets change everyday because the value either gets higher or lower. The value depends on the success of the team. Demand shifters, such as fan preferences and fan expectations, also change these prices. These prices also depend on demand situations like if there is a shortage or an equilibrium.
ReplyDeleteThis pricing concept is a smart move by the Giants. They will sell tickets at fair prices. I don't think it is fan friendly though. The fans will feel pressured to buy at a certain time in case prices go up. Fans will also be angry if they buy a ticket and then the price drops.
Nathan Rogers
This relates to economics in three ways for example, supply and demand, fan income, and fan expectations. Demand quantifies consumers’ willingness to pay for a product and it is simply the relationship between prices and the quantities demand. The ticket prices are reasonable because some of the fans do not have a high-income and making the prices around that range can make the fans buy that ticket, this is an example of fan income. As for fan expectations, the seating locations are good too because the price for the tickets are somewhat low.
ReplyDeleteThe new pricing concept for the San Francisco Giants is really good because of the price of the tickets. I think that the tickets are low for the customers to buy. Especially for Spring Training, the tickets are reasonable for the customers because if I wanted to buy a ticket to watch them play, I would gladly buy their Spring Training tickets. The new concept is good for the customers.
Jerome Mitchell
This applies to sports economics because of the supply and demand of the Ballpark and the fans. The more valued tickets will cost more because they are important games and more fans want to see them. The other games that most fans aren’t interested in will sell a lot cheaper to hopefully attract fans that just love the game of baseball. This builds up a competition of some sort; teams began to separate themselves from others by making themselves the teams that fans want to watch.
ReplyDeleteI like this idea. It only makes sense to sell tickets this way. That’s like the saying “you get what you pay for”. That’s like the company Sony, if you have the line of portable game systems. The newest and best models will obviously be more expensive because you are getting more out of it. I think it isn’t a fan-friendly situation. I mean the fans that only watch the good teams play will be spending a lot of money. But on the other hand the fans that love the sport itself then they would love paying less to see the game they love.
-Travis Ellison-
This applies to economics because of supply and demand. If the demand is high then the supply is high. This also means the price will be high if the demand is high. If the demand is low then the supply will be low and the price will be low.
ReplyDeleteI like the new pricing. You can find prices real low on some days and you can go to a lot of games. Sometimes you might be out of luck and the ticket prices will be high and sometimes they are average, in the middle.
Tamer Khweis
This relates to sports economics because basing the ticket price on the current market value. This includes the idea of supply and demand, benefits, and utility. Relating how good the team is to how well they play are good ways of determining the ticket price. The subjective value found by the person attending the sports event. As well as how convenient the event is for the consumer in terms of form, place, time, possesion, and information.
ReplyDeleteI feel this is not a very good idea. When determining the ticket price through current market value this cannot be liable. If the team is really good this could cause for high ticket prices because the demand is so high. They should think more of how to benefit the customers experience rather than giving prices based on the current market value. The constant change in ticket prices can be very frustrating for people wanting to attend. It makes sense in a way, but not under terms in which the current market value can always be trusted. Meaning we will not know how good the team really is after a certain amount of games. Its just too indecisive to me personally. Set the price and keep it there.
I think this is relative because it reflects the current market value. If the team is lacking of talent or wins then the tickets will be cheap/affordable. It makes ticket buying convenient for SF Giant fans. The ticket pricing reflects the supply and demand of the consumers & customers.
ReplyDeleteI think this is a bad idea. Fans are just gonna take advantage of this ticket pricing and just go to just about most of the games. This isn't a consistent strategy because if they continue to be a sucky team then the tickets will continue to be cheap but if they become a good team then tickets will be sky high. This method is very inconsistent.
- Sam Henderson