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Instructions
Read the Harvard Case, “7 Lessons on Dynamic Pricing—Courtesy of Br
Instructions
Read the Harvard Case, “7 Lessons on Dynamic Pricing—Courtesy of Bruce Springsteen.”
Study it thoroughly.
Study my PowerPoint slides. Please click on each hyperlink I have provided.
Incorporate facts & ideas from the Harvard Case & my PowerPoints in your responses.
Your Homework must be at least 2 full pages.
There is a 10-point penalty if your homework is less than 2 full pages.
How to Format the Homework
Use a 12-point font.
Use 1-inch margins.
Double-space your writing. Do a spell check.
Save the file as your last name, MCap, Hwk 8.
Submit your file as a Word of PDF document.
Q1. Describe and discuss each of these concepts related to pricing. Make sure you compare the differences between these pricing tactics:
Traditional Pricing.
Dynamic Pricing.
Variable Pricing.
The Primary Ticket Market.
The Secondary Ticket Market.
Q2. Describe and discuss how Uber and the airlines industry use dynamic pricing. You can choose to describe and discuss another industry that uses dynamic pricing if you like. It would be great if you could discuss your experiences with buying products or services sold with dynamic pricing.
Q3. Describe and discuss why so many music fans are upset about dynamic pricing. Also, describe how Ticketmaster and other parties who use dynamic pricing. Discuss the extent to which you feel dynamic pricing is fair (or not).
Q4. Describe and discuss each of these 7 lessons you learned about dynamic pricing from this case. You need to describe and discuss 2 things you found most-interesting about each of these issues.
Customers don’t want to be surprised about prices.
Don’t be afraid to challenge pricing myths.
You aren’t required to grandfather low prices to loyal customers.
Low prices can devalue a product.
Be aware of the expectations that accompany a high price.
Stated willingness to pay may not be accurate.
Your profit is not your customers’ concern.
Q5. I want to put each of you in charge of setting ticket pricing tactics for a sports or music event that most-interests you. You need to identify a specific sports or music event you would focus on as your example. You need to identify the pricing strategy you would use. You need to defend your choice.
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