University of South Florida Expands use of Dynamic Pricing
First College to Utilize SEATS Pricing System for Football Will Also Price Men's Basketball
INDIANAPOLIS, Aug. 6, 2012 /PRNewswire/ -- Leading pricing software developer, Digonex, announced today that the University of South Florida (USF), the first college to use its Sports & Entertainment Analytical Ticketing System (SEATS) for football, has expanded its use to include men's basketball. The USF Bulls football team will continue make use of the SEATS dynamic commerce engine this fall at Raymond James Stadium while the men's basketball team will implement dynamic pricing for their home games at the newly renovated Sun Dome for the 2012-13 season.
Ticket prices for football and basketball home games will fluctuate based on real-time market conditions such as team performance, rivalries and day of the week among other factors.
"We saw what giving fans more price options could do to broaden the fan-base for football and are excited to adopt its use for men's basketball as well," said Ayo Taylor-Dixon, Associate Athletic Director of Marketing and Revenue Development for USF Athletics. "Dynamic pricing enables us to match as many fans with the best seats possible to fill the arena and electrify the atmosphere for home games. We are looking forward to opening our new basketball facility and sustaining the energy built up from last season's NCAA Championship run."
The Bulls played at three different venues during the 2011-12 season and capped off their most successful year in program history by reaching the third round of the Men's Basketball NCAA Championship.
"USF was the first college to adopt dynamic pricing and should be applauded for their ground-breaking efforts to bring more value and thus more fans to their games," said Jan Eglen, PhD., CEO of Digonex. "Focusing on better pricing can encourage new fans to come to games while offering more options to existing supporters. This is further proof of their commitment to building top notch athletic programs."
SEATS employs a client customizable approach, making use of dozens of parameters to calculate the best price for tickets. The system also provides day-to-day ticket pricing flexibility and can broaden the ticket-buying fan base by giving fans more price options for seats that have been unused in the past or currently go unsold.
Dynamic pricing applies only to single-game ticket sales and will not affect season ticket holder pricing.
Digonex focuses primarily on development of automated and optimized pricing platforms for e-commerce, allowing client companies to increase customer retention and maximize revenue. Digonex has been awarded eight patents for its innovative pricing systems. For more information, visit Digonex.com.
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