Problem Formulation of Springfield nor'Easters

255 Words2 Pages
1. What company/organization is the subject of the problem? Who has responsibility for addressing the problem (usually the protagonist)? * Nor’easters-A minor league baseball team was the organization in the subject of the problem. * Larry Buckingham, Marketing Director was addressing the problem. 2. Identify the strategic marketing dimensions to the company’s situation. * Pricing strategy – Ticket price of the game * Formulate Ticket Revenue Projection comprising of single, season, and group tickets. * Concentration on Concession Sales. * Awareness/Promotion plan to avoid the Team to leave. 3. What is the significance of the problem to the subject? * Nor’easters need revenue to generate profits- to prevent the team to leave. * Very few numbers watch the game or find other sources of entertainment. * Ice Hockey Team left due to low-ticket sales. * Struggling Economy and average citizens lives below the poverty line. * Optimal Price needed. * Awareness/Promotion needed 4. What are the decision options? * To Formulate the Right/Optimal Price of the Ticket- Profit/Revenue. OR * Stop Minor Baseball League to avoid further loss. 5. What does he/she need to know to make a decision? * Does the price fit within the market and the competitors??? * Will the Pricing Strategy Work to achieve Break even? * Stadium Availability- Long term?? * Other Entertainment in the City. * Marketing Program- To sell tickets in categories. 6. What are some evaluative criteria for supporting the decision? * Scores on consumer’s response with respect to pricing. * The Expected Revenue generated from the sales of tickets and concessions. * Determining the Expenses and Income to Break

More about Problem Formulation of Springfield nor'Easters

Open Document