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Tuesday, June 2, 2015

Blog Post 6/2/15

1. The easiest aspect of managing the team for me is the ticket pricing. I think this is the easiest because your market research tells you exactly what fans can afford to pay. Once you find the market research all you need to do is rearrange the prices in a way that makes you money as well as keeping the fans happy.

2. The hardest aspect for me is the media planning. The market research ins't as clear as for the ticket prices. There are more factors when deciding which company to advertise with. This is even harder when there is only a $200,000 budget per week. The media planning is the most difficult aspect for me.

3. The goals of managing the business is the same for any other business. To make the most money. There are multiple factors contributing to making money. Another goal is keeping the fans happy and excited about the team. This creates a faithful fan base which will help you sell tickets despite the teams performance. Lastly, you want the team to perform as well as possible. As for every team in sports the better you play the more money you make. The management and owners get more money due to the increase in sales and ticket sales. The players get more because they are the ones performing and getting the owners money.

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