I'm curious how other arts organizations employ dynamic pricing? Do you have certain triggers at which to increase prices, and if so, what are the triggers? How much do you increase price? How often do you increase among one production? What data have you analyze in making these determinations?
It looks like this is part of the "Real World Pricing" session at conference, but I can't wait that long! Thank you for your input!
Jennifer HubbarttMarketing & Public Relations DirectorFirst Stage
I’m sorry Todd, I had intended for my question to be more general (similar to the upcoming conference description below), but I will wait until conference time for what the community has to offer on this topic:
Real World Pricing: It's a Roller Coaster
Date: Monday, Aug 13, 2012 2:00pm - 3:15pm
Session Type: Peer-to-Peer Presentation
Interest Area: A&F, IT, MKT, TKT, WEB
Level: Advanced
Description: What are your dynamic pricing triggers? Do you base price changes on percent sold? How does momentum play into your decisions? What is that elusive "magic trigger" and how do you know when you're there? Organizations will show how they plan ahead to efficiently accommodate pricing changes. Learn about the tools and techniques for pricing changes, as well as revenue and inventory management.
Jennifer
From: Tessitura Marketing Forum [mailto:forums-marketing@tessituranetwork.com] On Behalf Of Todd LantrySent: Wednesday, May 23, 2012 1:14 PMTo: Jennifer HubbarttSubject: Re: [Tessitura Marketing Forum] Dynamic pricing
Hi Jennifer and the community,
A reminder here that Anti-Trust laws prohibit the discussion of specific pricing and fees on forums. Any responses to this thread must be generalized. I recommend that this discussion be discontinued here.
For reference, here is an excerpt from the Network's Anti-Trust Statement (full text here):
"...do not solicit or post any information regarding specific prices or fees charged or paid, and do not post any information concerning pricing practices, discounts, credit terms, or other terms or conditions of sale either obtained by or offered to another entity. Do not solicit or post any information concerning market shares, salaries, costs, sales territories, or encouraging the selection, rejection or termination of customers or suppliers. Included within this prohibition are any unfavorable reports involving particular suppliers."
Todd LantryTessitura Network Webmaster
From: Jennifer Hubbartt <bounce-jenniferhubbartt7173@tessituranetwork.com>Sent: 5/23/2012 11:11:59 AM
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Hi Jennifer:
Thanks for the note. To clarify, the part of your post that caused concern was the question "How much do you increase price?”
You are absolutely right that the rest of your post is general enough to discuss--it's just the aspect of specific pricing amounts that should be avoided.
Best,Todd