Friday, January 16, 2015
Virtual Business
I was not a successful business owner, because I never made a profit in a season. The primary purpose in playing this simulation was learning about running a business. The two main reasons for not making money were fines and spending too much on advertising. Each season I was successful in licensing, so that was what I did best. My biggest weakness was my inability to make a profit with my franchise. As my team's record improved, I slightly increased the ticket prices for my home games. I used market research to find out which city was most dedicated to football, and to find out the level of awareness of football within the city. The infrastructure of my city hurt my franchise because some of the lots were too far away from the stadium for fans to be on time. Asking questions about dedication and ticket spending is important because starting a franchise in a city with low dedication and low willingness to spend is not a good start to your business. I would like to receive the team jacket if I went to a game.
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