| The London 2012 Olympic Games | The LOCOG’s Ticket Pricing Strategy | | | | Contents 1. Introduction 2 2. Setting the price 2 2.1. Selecting Pricing Objectives 2 2.2. Determining Demand 3 2.3. Estimating Cost 3 2.4. Analysis of competitor’s costs/prices/offers 3 2.5. Selecting a pricing method 4 2.6. Selecting a final price 5 3. Pricing and Distribution Strategy 5 4. Analysis 5 4.1. Limitations 5 4.2. SWOT 5 4.3 Marketing Mix 5 5. Summary/Conclusion 5
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To: Dr. Judson From: Jessica Feldman Date: March 3‚ 2013 Re: London 2012 Olympics Background In 2005‚ to the delight of millions of English citizens‚ London won the rights to the 2012 Summer Olympics. London had previously hosted the Olympic games in 1908 and 1948‚ while bidding on the 1992‚1996‚ and 100 games. In 2012 London had decided to stage the games in East London‚ a disadvantaged area that never fully recovered after being heavily bombed during World War II. Upon receiving this news
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does Williamson face as he thinks about his ticket prices? Some of the main factors that need to be taken into consideration when pricing the tickets and the associated tradeoffs that come with each are: • Maximizing Revenues: Per estimate‚ ticket revenues ($650MM) account for 21.5% of LOCOG’s forecasted budget ($3B). Any drop in revenue generation either due to pricing or total number of tickets sold (Revenue = Price/ticket x Quantity) will add undue stress on the remaining three buckets namely broadcast
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London Olympics 2012 Legacy - Controlled Assessment - How will people in the UK benefit in the long term from the facilities developed for the 2012 Olympic? The London Olympics commenced on 27th July 2012‚ after beating four rival cities in summer 2005 to win the right to stage the Olympic Games in 2012. After an exhaustive two year search to find the hosts‚ London came out on top: out of itself‚ Madrid‚ Paris‚ Moscow and New York. Plans for the new Olympic park based around the deprived area
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Date: March 3‚ 2013 Re: London 2012 Olympic Games Background Paul Williamson and his team were responsible for developing the policies for pricing and distributing the tickets for the 2012 London Olympic Games. He along with team members Chris Townsend‚ the Commercial Director of the LOCOG and Joanna Manning-Cooper‚ Head of Public Relations and Media were actively engaged in the pricing strategy decision making. The tickets were set to go on sale starting in late 2010 which meant that Williamson
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Competing on resources: Strategy in the 1990s. Harvard Business Review‚ 73 (4). (Custom Textbook (2012)‚ Managing Strategy in the Global Marketplace. Chapter 21.) * Porter‚ M.E. (1996). What is Strategy? Harvard Business Review‚ 74 (6). In HBR’s 10 Must Reads on Strategy. (Custom Textbook (2012)‚ Managing Strategy in the Global Marketplace. Chapter 21.) * Stegmann‚ J (2009) Critical Thinking in Strategic Management: A Conceptual Guide to AMBA 670 Managing Strategy in the Global Marketplace
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http://www.bized.ac.uk Pricing Strategies Copyright 2006 – Biz/ed http://www.bized.ac.uk Pricing Strategies Copyright 2006 – Biz/ed http://www.bized.ac.uk Penetration Pricing Copyright 2006 – Biz/ed http://www.bized.ac.uk Penetration Pricing • Price set to ‘penetrate the market’ • ‘Low’ price to secure high volumes • Typical in mass market products – chocolate bars‚ food stuffs‚ household goods‚ etc. • Suitable for products with long anticipated life cycles
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Running head: DID THE LONDON OLYMPICS BENEFIT ALL? London 2012: Did the Olympics benefit all‚ or leave a legacy of widening social inequality? Word Count: 2194 London 2012: Did the Olympics benefit all‚ or leave a legacy of widening social inequality? The Olympic Games have become a much sort after event by cities around the world. It is seen as an opportunity for the city not only to enhance and broaden its profile‚ but showcase its potential as an attractive
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discount battle and promising the cost of more staples will soon drop. In this article we can see what the Coles use the marketing concepts of customer wants‚ pricing‚ and satisfaction to the market. Coles’s latest product is more price cuts planned in the next few weeks. It is shown that‚ Coles are using market –penetration pricing strategies‚ setting a low price for a new product in the next few weeks to attract a large number of buyers and a large market share (Kotler et al‚ 2010 p7). Furthermore
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Pricing Strategies The three types of pricing strategies are skimming‚ penetration‚ and competitive. Skimming pricing strategy is defined as a pricing strategy involving the use of a high price relative to competitive offerings (Boone and Kurtz‚ p641). Skimming can be used to introduce a new product slowly. This allows the distribution process to be able to keep up with the market. Sometimes called market-plus pricing‚ intentionally setting a relatively high price compared with prices
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