Week 3 Price Flashcards
Price structures are based on
Sightlines
Early booking
Time of performance
Comfort
Price differentiation
Various prices for slightly different products
Price discrimination
Various prices for various marketing segments for the same product.
Three types of price discrimination
Perfect differentiation
Quantity discount
Multiperson pricing
Dynamic pricing
Permanent adjustment of the price to the equilibrium between demand and supply.
Determinant for price sensitivity
Price elasticity of demand + time elasticity of demand + time elasticity of supply
Sources for financing arts (4 spheres)
1st government
2nd market
3 civil society
4 ‘oikos’
Different types of grants
Structural grant
Non structural, project based grant
Small funds
How to find a sponsor?
- analyze organization and it’s needs
- make a funding policy
- build a development board
- research
- develop a sponsoring/funding package and proposal
Avoid sponsoring…
By competing companies
Representatives of the sponsor on your board of directors
Conditions to donate
Organization must be trusted
Passion for the artistic product
Conviction of value for money
Personal relation
Potential sources of income
Box office/entrance fees Sales revenue from related activity Public subsidy Sponsorship plus donations Trusts plus foundations
Three price strategies
Competitive
Differentiating
Product-like pricing
