Company Develops First Fully Automated Dynamic Pricing System for the Event Ticketing Industry

INDIANAPOLIS, Nov. 16 /PRNewswire/ -- Indianapolis-based pricing software developer, Digonex Technologies, Inc., announced today the release of the Sports & Entertainment Analytical Ticketing System (SEATS), the first fully automated, dynamic pricing system for event ticketing. SEATS is available via Digonex's Digital Online Exchange(TM) (DOE), a dynamic commerce engine that systematically changes prices based upon econometric and behavioral principles.

Employing a client customizable approach, SEATS makes use of dozens of parameters to calculate the best price for event tickets, including seat quality, number of performances, rival performances, third-party offerings and sales patterns among other variables. The system also helps organizations tackle the issues of ticket cannibalization, substitution, and secondary markets, taking into consideration the impact of a high price driving consumers to lower-priced tickets or different event dates.

"Today's ticketing industry is facing many challenges including a tough economy, declining event attendance and competing forces for the entertainment dollar. Now more than ever, the industry needs a solution that provides a fair-to-all solution for artists, promoters, primary ticket sellers, secondary ticket sellers and consumers," said Jan Eglen, Ph.D., CEO for Digonex. "We assembled experts known for their experience in their respective fields related to event ticketing, economics, programming and tour management and have committed this experience to developing a programmed and automated system that works with our patented dynamic pricing to create SEATS."

Digonex enlisted an unparalleled group of business and economic experts, including Michael Baye, Ph.D.. Dr. Baye is the Bert Elwert Professor of Business Economics & Public Policy at Indiana University's Kelley School of Business, and a Special Consultant at NERA Economic Consulting.

"SEATS takes into account a variety of key elements that currently impact ticket pricing. Incorporating sophisticated dynamic pricing models into the solution allows Digonex to offer consumers more choices, as well as help increase sales and optimize profitability," said Dr. Baye.

Working with Dr. Baye was Rafi Mohammed, Ph.D., author of "The Art of Pricing". Dr. Mohammed's new pricing strategy book, "The 1% Windfall," will be published by HarperCollins in March 2010.

Both parties were assisted by Digonex's skilled business and computer development team which includes Harry Sandler, director of strategic ticketing, who has managed tours for Bruce Springsteen, Stevie Nicks, John Mellencamp, Billy Joel, Eagles and Van Halen to develop the state-of-the-art system.

Dynamic pricing models, which allow pricing to go both up and down based upon consumer demand, enable retailers to offer a fair system that is market driven and both consumer and seller friendly. SEATS will operate via Digonex's DOE platform to continuously identify the 'sweet spot' where prices follow perceived market value and generate maximum economic return for clients while providing fair prices for consumers. It is designed to easily integrate with most platform systems.

About Digonex Technologies, Inc.

Digonex Technologies focuses primarily on development of automated and optimized pricing platforms for e-commerce, allowing client companies to increase customer retention and maximize revenue. For more information, visit Digonex Technologies' Web site at www.digonex.com

All products and company names herein may be trademarks of their respective owners.

SOURCE Digonex Technologies, Inc.

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