SEE 310 JWU Ticket Methods and Data Analysis Paper must include: Cover page with your name, course name and time and assignment number12 point type/double spacedFollow and list the number sequence for the questions with your answers. Points may be deducted for cover page, clarity, spelling, grammar and format. There is not a page requirement for this assignment. Please answer using depth and detail to support your answers. Purpose: The purpose of this assignment is to familiarize you with the process of pricing tickets for your event. The process involves understanding your estimated operating costs and projected attendance.Answer the questions below to help you finance a profitable event. 1. Watch the video link below on Setting Your Ticket Price http://eventsuniversity.ticketleap.com/setting-your-ticket-price/ SEE 3010 – TICKET METHODS & DATA ANALYSIS
Graded Element #3 – Ticket Pricing
Paper must include:
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Cover page with your name, course name and time and assignment number
12 point type/double spaced
Follow and list the number sequence for the questions with your answers.
Points may be deducted for cover page, clarity, spelling, grammar and format. There is not a page
requirement for this assignment.
• Please answer using depth and detail to support your answers.
Purpose:
The purpose of this assignment is to familiarize you with the process of pricing tickets for your event. The
process involves understanding your estimated operating costs and projected attendance. Answer the
questions below to help you finance a profitable event.
1. Watch the video link below on Setting Your Ticket Price
http://eventsuniversity.ticketleap.com/setting-your-ticket-price/
2. Create and describe a concept for a unique event. It could be a Spring Wing Fling, Beer Festival, B2B,
Family Event, Concert, Sporting Event; let your imagination run wild.
3. Identify and describe a venue where you will host your event. Be sure the venue is compatible for
your event (such as a large tent outside a popular bar for a Wing Fest, a convention center for a B2B, an
arena for a hockey game).
4. Create an operating budget for your event to cover the following costs (make up the numbers but
justify them as reasonable):
i. Venue rental:
ii. Product costs:
iii. Labor costs:
iv. Insurance:
v. Cleaning costs:
vi. Miscellaneous:
Total Estimated Operating Expenses:
Example: $58,000
Example: $38,000
Example: $19,500
Example: $4,500
Example: $2,200
Example: $3,800
Example: $126,000
5. Explain how you will market and promote your event to generate maximum attendance.
6. What is your estimated event attendance? Provide a high, mid and low projection.
7. Based on your estimated operating expenses and your estimated attendance figures, determine a cost per
person at each estimated attendance projection.
Example:
Expenses: $126,000
Estimated Attendance: 20,000 = HIGH
Cost per person: $6.30
$15 ticket = $8.70 profit after expenses
Estimated Attendance: 15,000 people = MID
Cost per person: $8.40
$15 ticket = $6.60 profit after expenses
Estimated Attendance: 12,000 people = LOW
Cost per person: $10.50
$15 ticket = $4.50 profit after expenses
8. Price your event ticket to cover your costs and maximize your profit. Explain your reasoning.
Ticket Price:
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