marketing management pricing problem

Project Description:

pricing problem
choose which one of the following proposals to improve profitability for this symphony orchestra is the best one. show all the math as to why it is the best proposal and explain why as well. use all the information provided to do the math to find out which one is the best choice. must show all work and results leading to the final number and proposal.
there are three proposals to choose from to improve profitability:
1. student rush: $4.00 tickets sold .5 hours before the performance, first-come, first-serve
2. sunday matinee repeat of the saturday evening performance with tickets priced at $6.00: expect to sell 700 but anticipate 150 would be people who otherwise would have attended the saturday evening performance.
3. new series of concerts on alternative saturdays: $10.00 per ticket, expect to sell 800 tickets, 100 to come from original saturday evening performances.

other relevant information: the symphony orchestra performs two saturday evenings each month with a new program for each performance.
cost per performance is $1,500 fixed, $4,500 rehearsal costs, $2,000 for performance costs, and $1.00 per patron for variable costs (programs, tickets, etc.).
the ticket cost per person is $10.00
1,100 seat auditorium (total revenue potential $11,000)
$1,900 profit if sold out
usually not sold out (900 average attendance, revenues $9,000 and costs $8,900)
do not consider increasing prices
Skills Required:
Project Stats:

Price Type: Fixed

Project Budget: $20 to $50
Total Proposals: 5
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