Pricing Theme Park Tickets

none

Pricing Strategy

Product Development

Product Optimization

The Challenge

The world’s largest theme park was looking to drive the growth of ticket sales and associated revenues. Their goal was to modernize its overall ticket pricing strategy to maximize ticket demand and revenues for each day of operation.

The Solution

In CMB’s custom study, participants completed a choice exercise, which was analyzed using our advanced predictive modeling to understand consumer demand for individual days at various price tiers, informing an optimized calendar that would drive business results.

We then developed a custom-built, user-friendly Excel-based simulator to allow our client to examine nearly infinite pricing scenarios that would inform critical decisions around ticket pricing, filterable by key audiences.

The Results

CMB delivered a prescriptive pricing strategy in the form of a full calendar year that would assign price tickets for specific days to drive demand, optimizing capacity and increasing revenue per guest, across different lines of business. We included education and training for the team to socialize the results throughout the organization, maximizing the impact of the research.

The program was so successful that demand outpaced availability.