You go back to your the search teams for your data teams you need even that feeds it randomly you know so they’ll go to the picks up these cards randomly Think about what more attributes can make a difference You don’t brand ambassador you know if I would change the Brandon Bass that I don’t know you know Or if I would make this particular player your captain what would be the values would change for that variable within that the next some game will be zero But even this will change That’s the deal Even this will change Their ranges will change So right now there are we seeing maximum fluctuations.
That’s what we want to find out if you add the number of variables because that’s my mind is dynamic right You add more variables they get fixated on something else So everything will affect something else That’s what then joined does is fatal It is allowing us to find needles So guys you know So right now to find the mist Best attributes we know the answer right The one which has the most fluctuation and how do you do that So let’s do that immediately right You know so far a brand you know.
They at this point by price point there are this features Why do we do this trade-off Because we want to see you know psychologically How much more are you willing to pay for a 10,000 watch I told you right Price point The psychological pricing You know in any Brian any market any guy degree does not cost Plus Imagine You understand that right So most Brian’s most categories want to make the most have the most of your wallet Imagine just a color And we have seen it in so many brand sites Whatever you paid for that we had seen Jeep Compass Black being launched all over You have seen the hoarding site.
What is so special in accurate Harrier black But maybe people are willing to pay more for black and gives you more premium look right And that’s what brands want to see What attributes can be milk you the most so that you are willing to pay more Even in this Ultimately we want to find out all these ticket points You know at this pricing points how much can I extract more from you or a particular ticket at a particular location Yeah so we are going to see the effect But to begin with you know that’s just let’s have these all these attributes So there are four attributes Number of games the little things a good prices the good location So these are the four variables were playing with on promotional items and then the world men duel Max and orange You can apply the min-max function.
Now we can see So we can’t even directly copy the case So like if you will be one main function or of the number of games So which is the least utility which is the most utility Max And how do you calculate ranges And that’s it if it is negative So doing abs which is absolute So B minus Max minus it’s it Can we do that do this for all the many of us So then we have ticket prize minimum Is this, so now this gives me a ranking order right We know which one is fluctuating the most so we know the ranking But we also want to know related How much strong is one particular variable as against other So how do you calculate the relativity of these as against each other imagine these are brands right or whatever This is the result of these four variables.
Now we know the most that people are getting affected by it is Ah picket location right 1.74 The next is a good price on Ben There are quite far behind your number of game season passes and promotional items But we also want to know the related strength off each of this How do you calculate that So simple Calculate door percentage of these add all these utilities out here you can do ah related percentage and that’s it This range divided by uh sorry not this should be a total off ranges the total of all the fluctuations and then a percentage Good enough So guys this is your first answer So which attribute is most important It is ticket location But if you look at it dancer you know ticket location on ticket prices are going virtually hand in hand 39% and 30-year person.
The total of all these will be 100% much lesser You are affected by the other two Number of games doesn’t make a difference on promotional items It’s okay if you get it to find if you don’t get it to find So that’s the answer to your question Right So in this particular band in this particular category what’s most important is ticket location and ticket price makes sense Guys let’s go toe let’s get deeper into this problem The second thing that the management wants to Noah’s which ticket price can uh you know which ticket price man can we increase the place So you know So there is a dollar 15 for say 300 level behind the baskets There are dollars 25 for 200 level on the corner.
These are four kinds of ticket price points that you have And now we want to know where can I increase the price It’s like the same Thunderbird example How much can I increase so that you were still you know are willing to buy, Oh and if you have read the case study there is one thing with the management is very short about that we don’t want oh decrease our team in place You know you don’t want to decrease or offer the dollar 60 tickets for anything less That’s something you know There are constraints that you believe it and you don’t want to reduce the premium nous the elite nus off that those tickets.
You are sure you know I won’t decrease prices to get more footfalls So the only option that we have is to increase place No you have three options Dollar 15 taker dollar 25 ticket dollar 35 tickets Obviously you know you won’t pay more for a dollar 15 tickets that you are as it is not very happy about You to know you are at the fag and behind the baskets So again you know our options are reduced to toe Which ticket price would you increase colder 25 or dollar 35 And how much That’s what we want to go back in the second question Breadstick it Can you increase now How do you do that So now both of this goes hand in hand Right So in a vacuum obviously you only satisfied At least disposed towards the dollar 15 tickets Also the happiest with the dollar 15 tickets The Lord surprise The better on you know you are least amongst all of this happy with their dollars 1 35.