Main factors establishing a pricing policy, Financial Accounting

Assignment Help:

What are main factors that Nor'easters should take into account in establishing a pricing policy?

The minor revenue generators of Nor'easters include corporate sponsorships and income from media through the corporate advertising methods on the banners (Cespedes et al, 2009). In addition to these, the major revenue generators of Nor'easters would include concession sales and the tickets. Ticket pricing level and the season tickets as well as attendance mainly influence the concession sales.

In establishing the pricing policy, it is essential to consider certain factors. These are as follows:

  • The price of seat should no way be greater than that of tickets. This can create competition. As Nor'easters currently lack this degree of competition, it is essential to first look over means to create competition.
  • The interest of customers to pay for the different categories of tickets such as full season, multi, single and half season. Accordingly, the discount rates should also be determined.
  • Interests of customers towards concession and their percentage of presence.
  • The pricing strategy of Nor'easters should indicate their standard and distinguish them from the other regular teams. This can probably encourage the fans.

Pricing plan affects the quality. Also, inhabitants of Springfield tend to have small annual income and this tends to be lesser than national average income. Hence, price sensitiveness should be considered but this should not affect the quality or arrangement of the stadium.

 

 


Related Discussions:- Main factors establishing a pricing policy

What do you understand by accumulated funds, QUESTION 1: Part A Ma...

QUESTION 1: Part A Malcolm was in business as an import merchant and the following balances were extracted from his books on 31st December 2003: Purchases

benefit-cost ratio, The city of Fredericton operates automobile parking fa...

The city of Fredericton operates automobile parking facilities and is evaluating a proposal to erect and operate a structure for parking in the city's downtown area. 2 designs for

Numerical question, A company's sales are 50% in cah and 50% on credit. 70%...

A company's sales are 50% in cah and 50% on credit. 70% of the credit sales are colected in the month of the sale, 20% in the month following the sale, and 5% in the second month f

Calculate pv of cash flows, Q. Calculate PV of cash flows? Estimat...

Q. Calculate PV of cash flows? Estimated market value                                              $116·26 per $100 of debentures The value of 45 shares in 5 years' tim

Terms "tangible" and "intangible" , Explain the meaning of the terms "tangi...

Explain the meaning of the terms "tangible" and "intangible" and discuss how these terms are used in describing assets.

#titleaccounting concept.., what is the implication of applying accounting ...

what is the implication of applying accounting concept wrongly

Discuss the pros and cons of financing in unhedged, You have the following ...

You have the following information about rates in London for Eurocurrency loans of one-year duration, the exchange rate between the USD and euros, the currency in which you want fi

Estimation of current cost of debt, Q. Estimation of current cost of debt? ...

Q. Estimation of current cost of debt? The debenture will be used to estimation the current cost of debt as it is the only marketable debt. The present market value of the debe

Compositions and schemes of arrangement, COMPOSITIONS AND SCHEMES OF ARRANG...

COMPOSITIONS AND SCHEMES OF ARRANGEMENT The debtor may lodge a written proposal with the Official Receiver for a composition or other arrangement of his affairs within four day

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd