Final answer:
MiLB teams are advised to adopt a pricing strategy that enhances fan attendance by offering tickets at accessible price points, similarly to how some music bands price concert tickets. This will likely encourage fan spending on merchandise and concessions, fostering a loyal fan base and supporting long-term profitability.
Step-by-step explanation:
The issue of low attendance at minor league baseball (MiLB) games is a significant challenge. Based on the information provided and parallels drawn from the music industry, MiLB teams would benefit from a pricing strategy that focuses on maximizing fan attendance rather than maximizing revenue per ticket. This could involve offering tickets at a more affordable price point to fill the stadiums, which has the potential benefit of increasing revenue from concessions, merchandise, and overall fan engagement.
Similar to how smaller bands may price tickets to ensure fuller venues and happier fans who will buy merchandise, MiLB teams should consider dynamic pricing strategies that encourage more fans to attend the games. This could include discounts for certain groups, family packages, or promotional days. The idea is to make the games accessible to a wider audience, encouraging a culture of regular attendance and fan loyalty, which in turn could improve the overall experience and long-term profitability.