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VB knowledge matters
| Term | Definition |
|---|---|
| Price | The amount of money charged for one unit. Ticket prices should reflect what customers are willing to pay. |
| Revenue | The money collected in sales. Revenue is equal to (number of unit sales) × (price of each unit). A sports franchise has a number of revenue sources, including ticket sales, concessions, licensing, and sponsorships. |
| Demand | The amount of goods or services that customers want to buy. Ticket prices for a sporting event should be determined by the demand that exists for that event. |
| Yield management pricing | Setting different prices for goods or services in an effort to maximize revenue when limited capacity is a factor. |
| Dynamic pricing | A system of fluid not fixed ticket prices that increase or decrease due to small and/or short-term changes in supply and demand. Dynamic pricing is facilitated by the Internet and mobile technology. |
| Marginal cost | The cost of producing one additional good or making one more of a commodity (like a seat at a stadium) available. |
| Ticket brokers | Individuals or companies who purchase tickets in bulk to artificially constrict demand and drive up prices. |
| Ticket agencies | Companies that stadium owners use to manage their ticket sales. |
| Grounds crew | The team that maintains a property’s grounds, especially the athletic field. Proper field maintenance is important because improper maintenance can lead to player injuries and league fines. |
| Security | Personnel responsible for the security and well-being of the fans, stadium property, and workers. A security shortage can lead to unruly crowds. |
| Usher | Personnel responsible for making sure fans sit in and stay in their assigned seats. Fans will move to better seats if they are available and there is no one to stop them. |
| Gate greeter | Staff members who check tickets of customers entering the stadium. They play the vital role of ensuring that only paying customers enter. |
| Information specialist | Information specialists walk around the stadium before, during, and after an event to direct customers to facilities and serve as the first line of support to customers with medical emergencies. |
| Concession staff | Team members who prepare and serve food and drinks (often alcoholic) to customers. |
| Stage crew | The crew that helps set up and test a band’s staging and equipment. They are either part of the band’s road crew or local contractors hired by the tour promoter. |
| Sound crew | The crew that runs a venue’s sound system. They are either part of the band’s road crew or local contractors hired by the tour promoter. |
| Cleaning crew | The crew responsible for stadium cleanliness before, during, and after events. |
| Ticket takers | Staffers who check tickets at stadium entrances. |
| Ticket sellers | Staffers who sell tickets to fans at the stadium. |
| Parking cashiers | Personnel who man booths at stadium parking lots and garages to take money from fans before or after an event. |
| Parking attendants | Personnel who help fans find parking spots and navigate through parking areas. |
| Parking security | Staffers who make sure that fans’ vehicles, and the personal belongings in them, are safe. They work with law enforcement to address cases of larceny and other unruly behavior. |
| Crowd control | A term for the various techniques used by security personnel to ensure a peaceful event for ticketholders. |
| Spectator violence | Violence perpetrated by spectators against fans of the opposing team or even opposing players. |
| Ingress | The flow of fans into a venue |
| Egress | The flow of fans out of or away from a venue. |
| Bottlenecks | A restriction of optimal traffic throughput. In Virtual Business—Sports, you may see bottlenecks occur in the parking lot because of overloaded traffic situations due to the inability of the parking and security staff to support the traffic load. |
| Satellite parking | Any parking lot that is offsite from the stadium. Shuttle buses are often required to transport fans to and from the stadium. |
| Ticket sellers | Those who sell tickets to the general public, often at the stadium itself. |
| Ticket takers | Those who take the tickets from patrons wishing to enter the stadium. |
| Public transportation | Methods of transport other than driving, such as the subway and the commuter rail. |
| Americans with Disabilities Act (ADA) | A federal law requiring, in part, that new stadiums be handicapped accessible. |
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