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Friday, January 16, 2015

Virtual Business Project - Business Decision Analysis

1. Do you think you were a successful business owner?
   Why or why not?
I think I was a successful business owner because I almost managed to make a profit. If I did another season and had better sponsorships, then I would have made a profit.

2. What was your primary purpose in playing and managing this simulation?
My primary purpose in playing and managing this simulation was to make a profit and get a larger percentage of people to come to the games.

3. What were the two main reasons for not making more money?
The two main reasons for not making more money was because not all fans made it to the game on time and the fan base was not large enough.

4. What do you think you did best in the planning and running of your football team?
One of the things I did best in planning and running my football team was use a good amount of promotions.

5. What was your biggest weakness in running this simulation?
My biggest weakness in running this simulation was not properly negotiating sponsorships.

6. Explain how you managed yield management pricing?
I managed to yield management pricing by experimenting how much staff I did need before something bad happened. For example, if there was not enough stadium staffing, fans would throw trash on the field. I also did surveys to see how much money people would be willing to spend on tickets and promotions.

7. Explain how you used market research to help your planning.
I used market research to properly advertise. I also used it to see what promotions would appeal most to the fans.

8. Explain how infrastructure and the city's businesses affect the running of your team. 
If the city's businesses weren't willing to cooperate with sponsorships, then the team would not make a lot of money for the season.

9. Explain why it might be important to ask questions about devotion and ticket spending when trying to determine where to locate your team.
It is important to pick a place where people are more devoted to football and will spend more money because then a lot of people will go to games and the prices of tickets can be higher.

10. What promotion would you like to receive if going to one of your games?
I would like to receive a hat because I would wear it a lot.