Helping a world premier theme park maximize revenue and demand throughout the year.
How can a global theme park company manage the ebb and flow of ticket sales throughout the year to encourage sales without leaving revenue on the table? This daunting question was faced each year as they revisited their pricing strategy to respond to the fluctuations in consumer demand.
Needing a highly consultative research partner with strong advanced analytic capabilities to take on this critical assignment, the client selected CMB to conduct an assessment of theme park ticket demand and pricing throughout the calendar year and recommend the optimal strategy that would incentivize ticket sales on the slower days and maximize revenue during busier, higher demand days.
Leveraging discrete choice and cross-functional team collaboration, CMB uncovered different scenarios, and created a solution that is reflective of reality that models demand under various circumstances to develop an optimized pricing calendar that drives business results.
CMB is a true partner, going above and beyond for us. Not only are they reliable and flexible to make methodologies and processes work within a given culture, they’re also a great group of people to work with. They give me the confidence I need to deliver great insights and make strategic decisions for long term success.
Research & Results
A calendar tiered pricing strategy was delivered that assigned price tickets for specific days in order to drive demand, optimize theme park capacity, while increasing revenue across different lines of business. A user-friendly pricing simulator was created for optimal pricing scenarios. Additionally, CMB provided education and training for the team to socialize the results throughout the organization, driving home and maximizing the impact of the research. The results allowed the client to successfully meet their business objectives of updating and optimizing their annual pricing strategy.