Global Economic and Sport Business

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Introduction
 of
 the
 organization
 selected
  –
 Los
 Angeles
 Lakers
 
The
 Los
 Angeles
 Lakers
 are
 an
 American
 professional
 basketball
 team
 based
  in
  Los
  Angeles,
  California.
  They
  play
  in
  the
  Pacific
  Division
  of
  the
  Western
  Conference
  in
  the
  National
  Basketball
  Association
  (NBA).
  The
  Lakers
  play
  their
  home
  games
  at
  Staples
  Centre,
  which
  is
  a
  multi-­‐purpose
  sports
  arena
  in
  Downtown
  Los
  Angeles,
  and
  which
  they
  share
  with
  their
  local
  NBA
  rival,
  the
  Los
  Angeles
 Clippers.
 The
 Lakers
 are
 one
 of
 the
 most
 successful
 teams
 in
 the
 history
  of
 the
 NBA,
 and
 have
 won
 16
 championships,
 their
 last
 being
 in
 2010.
 As
 of
 2012,
  the
 Lakers
 are
 the
 most
 valuable
 NBA
 franchise
 according
 to
 Forbes,
 having
 an
  estimated
 value
 of
 $900
 million.
 
 

Discussion
 and
 evaluation
 of
 the
 price
 of
  tickets
 and
 products
 
The
  most
  important
  products/services
  offered
  by
  the
  organisation
  Los
  Angeles
  Lakers
  is
  no
  doubt
  the
  tickets
  of
  their
  games.
  Besides,
  the
  team
  jersey
  is
  also
 a
 product
 that
 can
 be
 discussed
 here
 by
 the
 theories
 of
 demand
 because
 its
  market
 behaviour.
 
 

a) The
 determinants
 of
 demand
 for
 sporting
 events
 
The
  first
  economic
  theory
  that
  is
  the
  most
  useful
  in
  analysing
  the
  demand
  for
  the
  organisation
  is
  the
  determinants
  of
  demand
  for
  the
  sporting
  events.
  Those
  determinants
  can
  be
  divided
  into
  two
  subgroups,
  the
  long-­‐term
  factors
  and
 the
 short-­‐term
 factors.
 
 

i.

Long-­‐term
 factors
 

The
  first
  thing
  in
  the
  long-­‐term
  factors
  is
  the
  public’s
  familiarity
  with
  the
  rules
  of
  the
  game.
  The
  basic
  rules
  of
  basketball,
  such
  as
  the
  scoring
  method
  or
  the
  foul
  definition,
  are
  virtually
  well
  known
  by
  people
  all
  over
  the
  world.
  Although
 there
 are
 some
 difference
 between
 the
 European
 basketball
 rules
 and
  the
 US
 rules,
 the
 influence
 of
 the
 public’s
 familiarity
 with
 the
 rules
 of
 the
 game
 is
  low.
 But
 on
 looking
 at
 the
 past
 games
 audiences
 several
 years
 ago,
 an
 apparent
 

increase
  of
  the
  demand
  of
  tickets
  (in
  terms
  of
  audience)
  can
  be
  obtained.
  According
 to
 a
 statistical
 data
 given
 by
 the
 website,
 the
 average
 audience
 of
 Los
  Angeles
  Lakers
  of
  the
  year
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