Lyric Opera of Chicago : setting the scene to grow ticket sales / Jim Lecinski, John Masko.

Format:

Book

Author/Creator:

Lecinski, Jim, author.

Masko, John, author.

Series:

SAGE business cases.

SAGE business cases

Language:

English

Subjects (All):

Marketing--Decision making--Case studies.

Marketing.

Strategic planning--Case studies.

Strategic planning.

Decision making--Case studies.

Decision making.

Physical Description:

1 online resource : illustrations.

Place of Publication:

London : Kellogg School of Management, 2023.

Summary:

In the summer of 2022, the Lyric Opera of Chicago (Lyric), a major opera company, is facing a deepening challenge. Lyric has seen ticket sales decrease, declining from 54% of revenue in 1998 to 33% by 2018. Since 2010, the primary source of this decline has been a loss in subscribers-high-value patrons who attend several operas per year. This subscriber lack is concerning not just for the lost ticket sales but also because subscribers are far more likely than single-ticket buyers to make gifts (a stream that now constitutes 51% of Lyric's revenue). As it plans to counter this downward trend, Lyric's marketing team has two questions to answer: First, the team must decide which audiences to focus on to fill its empty seats-past subscribers, "opera-primed" lookalikes of past subscribers, more diverse audiences closer to Chicago's urban core, or millennials; then, once the team chooses a target audience, it must determine how Lyric should address that audience with its product, customer experience, and opera programming choices.

Notes:

Description based on XML content.

ISBN:

1-0719-3128-8

9781071931288

OCLC:

1417356849