Answered: "Standard tickets for Beyonce’s…

Principles Of Marketing

17th Edition

ISBN:9780134492513

Author:Kotler, Philip, Armstrong, Gary (gary M.)

Publisher:Kotler, Philip, Armstrong, Gary (gary M.)

Chapter1: Marketing: Creating Customer Value And Engagement

Section: Chapter Questions

Problem 1.1DQ

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Question

"Standard tickets for Beyonce’s Renaissance tour went on sale in the UK for a price of
£56 in February 2023. Many fans complained about receiving constant error
messages and being stuck in long on-line queues of more than 500,000 people. In
response to these negative comments a spokesperson for Ticketmaster, the
company in charge of selling the tickets, stated that: ‘There was never going to be enough tickets to meet demand’"

What are the potential implications of the statement by the Ticketmaster spokesperson that "there was never going to be enough tickets to meet demand" for the allocation of resources and the efficiency of the market? (Include diagram)

Definition Definition Degree to which financial markets incorporate all available information into the prices of assets. In a more efficient market, the prices reflect the available information more than that in a weak efficient market. It is difficult for investors to outperform the market in a strong efficient market. This is because all the available information is already discounted in the asset's price. However, in a weak-form efficiency, the market does not reflect all information in the asset's price. As a result, it becomes easier to generate better returns in a weak form or an inefficient market.

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