Harvard Case - Expo'98 (A): Ticketing Strategy
"Expo'98 (A): Ticketing Strategy" Harvard business case study is written by Julio Cardoso de Menezes, Karel Cool. It deals with the challenges in the field of General Management. The case study is 23 page(s) long and it was first published on : Jun 1, 2000
At Fern Fort University, we recommend Expo '98 adopt a multi-tiered ticketing strategy that leverages technology and data analytics to maximize revenue while ensuring accessibility and a positive visitor experience. This strategy should prioritize flexible pricing, dynamic discounting, and personalized offers based on visitor demographics and preferences. Additionally, Expo '98 should invest in robust online ticketing platforms and mobile applications to streamline the purchase process and enhance visitor engagement.
2. Background
Expo '98, a major international exposition held in Lisbon, Portugal, faced the challenge of attracting a large and diverse audience while maximizing revenue from ticket sales. The organization aimed to create a memorable experience for visitors while ensuring financial sustainability. The case study focuses on the decision-making process surrounding the development of an effective ticketing strategy.
The main protagonists of the case study are the Expo '98 management team, responsible for developing and implementing the ticketing strategy. They face the challenge of balancing competing objectives: maximizing revenue, ensuring affordability, and creating a positive visitor experience.
3. Analysis of the Case Study
To analyze the case, we can utilize a framework that considers both internal and external factors influencing the ticketing strategy. The framework incorporates elements of Strategic Planning, Marketing Strategy, and Operations Management.
Internal Factors:
- Organizational Structure: Expo '98's organizational structure should be conducive to efficient decision-making and implementation of the ticketing strategy.
- Leadership Styles: The leadership team should adopt a collaborative and data-driven approach, fostering open communication and encouraging innovation.
- Decision-Making Processes: Clear and transparent decision-making processes should be established to ensure alignment and accountability.
- Corporate Culture: A culture of innovation and customer-centricity should be fostered to drive continuous improvement and enhance visitor satisfaction.
External Factors:
- Competitive Advantage: Expo '98 needs to differentiate itself from competing events by offering unique experiences and value propositions.
- SWOT Analysis: Identifying strengths, weaknesses, opportunities, and threats will help the organization develop a strategic roadmap.
- Porter's Five Forces: Analyzing the competitive landscape, including the threat of new entrants, bargaining power of buyers and suppliers, and the threat of substitutes, will inform the pricing strategy.
- Marketing Strategy: A comprehensive marketing plan should target different audience segments and leverage various channels to promote ticket sales.
- Operations Management: Efficient operational processes are crucial for managing ticket sales, visitor flow, and overall event logistics.
4. Recommendations
1. Multi-Tiered Ticketing Strategy:
- Base Ticket: Offer a base ticket providing access to the main exhibition areas.
- Premium Ticket: Include access to exclusive exhibits, events, and experiences.
- Family Packages: Offer discounted rates for families and groups.
- Early Bird Discounts: Incentivize early purchases with discounted prices.
- Group Discounts: Provide discounts for large groups and organizations.
2. Dynamic Pricing and Discounts:
- Time-Based Pricing: Implement variable pricing based on the day of the week, time of day, and expected visitor volume.
- Demand-Based Pricing: Adjust prices based on real-time demand and availability.
- Targeted Discounts: Offer personalized discounts based on visitor demographics, purchase history, and preferences.
3. Online Ticketing Platform and Mobile App:
- User-Friendly Interface: Develop an intuitive online platform and mobile app for seamless ticket purchases.
- Secure Payment Gateway: Ensure secure payment processing for customer confidence.
- Mobile Ticketing: Implement mobile ticketing for convenient access and reduced paper usage.
- Real-Time Updates: Provide real-time updates on ticket availability, event schedules, and wait times.
4. Data Analytics and Optimization:
- Visitor Data Collection: Collect data on visitor demographics, purchasing behavior, and feedback to inform pricing and marketing strategies.
- Regression Analysis: Utilize regression analysis to identify key factors influencing ticket sales and optimize pricing models.
- A/B Testing: Experiment with different pricing strategies and marketing campaigns to identify the most effective approaches.
5. Basis of Recommendations
These recommendations are based on the following considerations:
- Core Competencies and Mission: The recommendations align with Expo '98's mission to attract a diverse audience, maximize revenue, and provide a memorable experience.
- External Customers and Internal Clients: The multi-tiered ticketing strategy caters to different visitor needs and preferences, while the online platform and mobile app enhance the visitor experience.
- Competitors: The dynamic pricing and targeted discounts help Expo '98 stay competitive in the market.
- Attractiveness: The recommendations are expected to increase revenue, improve operational efficiency, and enhance visitor satisfaction.
- Assumptions: The recommendations assume that Expo '98 has access to the necessary data and resources to implement the proposed strategies.
6. Conclusion
By implementing a multi-tiered ticketing strategy that leverages technology and data analytics, Expo '98 can maximize revenue, enhance visitor experience, and achieve its strategic objectives. The recommendations outlined in this case study solution provide a roadmap for achieving these goals.
7. Discussion
Alternative options not selected include a single-tiered pricing model, which would be less flexible and potentially less effective in maximizing revenue. Another alternative would be to rely solely on traditional ticketing methods, which would be less efficient and potentially limit reach.
The recommendations are based on the assumption that Expo '98 has the necessary resources and expertise to implement the proposed strategies. Risks associated with the recommendations include potential technical challenges, data security issues, and the need for ongoing monitoring and optimization.
8. Next Steps
- Develop a detailed implementation plan: Outline specific tasks, timelines, and responsibilities for each stage of the implementation process.
- Secure necessary resources: Allocate budget and personnel to support the implementation of the ticketing strategy.
- Pilot test the new system: Conduct pilot tests to ensure functionality and gather feedback before full-scale deployment.
- Monitor and evaluate performance: Track key performance indicators (KPIs) to measure the effectiveness of the ticketing strategy and make adjustments as needed.
Timeline:
- Month 1-3: Develop and implement the online ticketing platform and mobile app.
- Month 4-6: Pilot test the multi-tiered pricing strategy and data analytics tools.
- Month 7-9: Launch the full-scale ticketing strategy and monitor performance.
- Month 10-12: Continuously optimize the ticketing strategy based on data analysis and feedback.
By following these recommendations and implementing the proposed strategies, Expo '98 can achieve its strategic objectives and create a successful and memorable event for visitors.
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Case Description
In the Expo98 (A) case, Julio Cardoso, an INSEAD Alumnus, is being asked to design the ticketing strategy for Expo98. He needs to analyse the objectives for the Expo and to decide what pricing strategy will meet these objectives. He can analyse the results from the Vancouver, Brisbane and Seville Expos. But as each one is different, he needs to decide what is the optimal strategy for Portugal. The (B) case gives an overview of the pricing strategy that was chosen and the results of the strategy and the Expo.
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