Final answer:
Customers can usually 'upsell' their Basic Economy fare to a higher-tier fare depending on the airline's policies, which is part of revenue management strategies. Similar to bands that do not always price tickets at the maximum due to relationship with fans, airlines aim to balance ticket revenue with customer loyalty and future sales.
Step-by-step explanation:
Whether a customer can 'upsell' from a Basic Economy fare to a non-Basic Economy fare depends on the airline's policies. Generally, airlines do allow customers to upgrade or change their tickets, often for an additional fee. This practice is part of revenue management, which allows airlines to maximize their income by selling different products to different segments of the market. The ability to upgrade is particularly valuable to customers who make last-minute changes to their plans or decide they want more flexibility.
In the context of the ticket demand for famous bands mentioned in the given reference text, pricing strategies can be quite complex. Popular bands could potentially increase their ticket prices due to inelastic demand, as their fans are willing to pay high prices up until the venue is full. However, these bands may opt to set lower prices, not to maximize immediate ticket revenue, but to maintain a good relationship with their fans, with the expectation that this will encourage additional spending on merchandise and related items.
Just as bands can sometimes choose to set ticket prices at less than what they might be able to charge, airlines similarly manage fares and customer experience. The goal is to strike a balance between immediate ticket revenue and longer-term brand loyalty and additional sales, much like the balance between maximizing tickets sold and the ancillary revenue mentioned in the case of popular bands.