Another dynamic pricing question

We create new price maps.  We end date the current price map to a time when there aren't going to be any transactions taking place (the middle of the night when the website is down for system backup) and start the new map 1 min later.  We leave the original price map marked as the base price.

Pros: This allows us to have historical data for when the change occurs and it allows us to back date orders if we need to and sell the original price (for us this is mostly to accommodate company orders)

Con: Because of the differences in prices between shows and the number of shows in a run, this really can't be done using season maintenance so it can take a long time to set up.  Since the Availability tab of the product guide will only display the availability by section if the base price is an active price we lose the ability to reference availability this way once the new price is active.

We easily get around the cons by requesting a minimum of 1 business day notice of any chance and if we need to know availability by zone we just run a report so I wouldn't say that either con is all that bothersome.

I'll just add that whatever method you choose . . .test it thoroughly with all your reports as well as looking at how it affects your numbers in Season overview.  One of the reasons that we chose to leave the original price marked as the base price was so that the original gross potential would still display in Overview as all our goals and budgets are based off the original amount.

We create new price maps.  We end date the current price map to a time when there aren't going to be any transactions taking place (the middle of the night when the website is down for system backup) and start the new map 1 min later.  We leave the original price map marked as the base price.

Pros: This allows us to have historical data for when the change occurs and it allows us to back date orders if we need to and sell the original price (for us this is mostly to accommodate company orders)

Con: Because of the differences in prices between shows and the number of shows in a run, this really can't be done using season maintenance so it can take a long time to set up.  Since the Availability tab of the product guide will only display the availability by section if the base price is an active price we lose the ability to reference availability this way once the new price is active.

We easily get around the cons by requesting a minimum of 1 business day notice of any chance and if we need to know availability by zone we just run a report so I wouldn't say that either con is all that bothersome.

I'll just add that whatever method you choose . . .test it thoroughly with all your reports as well as looking at how it affects your numbers in Season overview.  One of the reasons that we chose to leave the original price marked as the base price was so that the original gross potential would still display in Overview as all our goals and budgets are based off the original amount.

Hey All...greetings from Winnipeg,

So I do know that there are a lot of users doing dynamic pricing at this time. We are just in the "consideration" phase of this here at MTC and I have a question for all of you doing it.

I know there are several ways to execute this, but I am wondering if you all would share your methods.

What functionality are you using to accomplish it (price maps, editable pricing etc.), and what are the pros and or cons of the method you chose.

Any insight is appreciated as usual.

Thanks

Jen

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Whilst I go searching through the archives for more information is there any reason not to just add on a second price map with the difference that you plan on increasing?

Seems like that would solve the con with the availability tab and keep all the pros in place.

Has anyone tried this?
Are there inherent cons that this would create?

Whilst I go searching through the archives for more information is there any reason not to just add on a second price map with the difference that you plan on increasing?

Seems like that would solve the con with the availability tab and keep all the pros in place.

Has anyone tried this?
Are there inherent cons that this would create?

We create new price maps.  We end date the current price map to a time when there aren't going to be any transactions taking place (the middle of the night when the website is down for system backup) and start the new map 1 min later.  We leave the original price map marked as the base price.

Pros: This allows us to have historical data for when the change occurs and it allows us to back date orders if we need to and sell the original price (for us this is mostly to accommodate company orders)

Con: Because of the differences in prices between shows and the number of shows in a run, this really can't be done using season maintenance so it can take a long time to set up.  Since the Availability tab of the product guide will only display the availability by section if the base price is an active price we lose the ability to reference availability this way once the new price is active.

We easily get around the cons by requesting a minimum of 1 business day notice of any chance and if we need to know availability by zone we just run a report so I wouldn't say that either con is all that bothersome.

I'll just add that whatever method you choose . . .test it thoroughly with all your reports as well as looking at how it affects your numbers in Season overview.  One of the reasons that we chose to leave the original price marked as the base price was so that the original gross potential would still display in Overview as all our goals and budgets are based off the original amount.

Hey All...greetings from Winnipeg,

So I do know that there are a lot of users doing dynamic pricing at this time. We are just in the "consideration" phase of this here at MTC and I have a question for all of you doing it.

I know there are several ways to execute this, but I am wondering if you all would share your methods.

What functionality are you using to accomplish it (price maps, editable pricing etc.), and what are the pros and or cons of the method you chose.

Any insight is appreciated as usual.

Thanks

Jen

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Sorry I was unclear. What I mean is let's say I have a price map at $30 and I want to raise the total price of the ticket to $35, what if I simply added an additional price map of $5 to start at the time I want to make the change? So I have two active price maps on the price type, one at $30 that is still marked as "base" and one at $5 to make up the total value of the raised price.

Has anyone done that? any cons?

Sorry I was unclear. What I mean is let's say I have a price map at $30 and I want to raise the total price of the ticket to $35, what if I simply added an additional price map of $5 to start at the time I want to make the change? So I have two active price maps on the price type, one at $30 that is still marked as "base" and one at $5 to make up the total value of the raised price.

Has anyone done that? any cons?

Whilst I go searching through the archives for more information is there any reason not to just add on a second price map with the difference that you plan on increasing?

Seems like that would solve the con with the availability tab and keep all the pros in place.

Has anyone tried this?
Are there inherent cons that this would create?

We create new price maps.  We end date the current price map to a time when there aren't going to be any transactions taking place (the middle of the night when the website is down for system backup) and start the new map 1 min later.  We leave the original price map marked as the base price.

Pros: This allows us to have historical data for when the change occurs and it allows us to back date orders if we need to and sell the original price (for us this is mostly to accommodate company orders)

Con: Because of the differences in prices between shows and the number of shows in a run, this really can't be done using season maintenance so it can take a long time to set up.  Since the Availability tab of the product guide will only display the availability by section if the base price is an active price we lose the ability to reference availability this way once the new price is active.

We easily get around the cons by requesting a minimum of 1 business day notice of any chance and if we need to know availability by zone we just run a report so I wouldn't say that either con is all that bothersome.

I'll just add that whatever method you choose . . .test it thoroughly with all your reports as well as looking at how it affects your numbers in Season overview.  One of the reasons that we chose to leave the original price marked as the base price was so that the original gross potential would still display in Overview as all our goals and budgets are based off the original amount.

Hey All...greetings from Winnipeg,

So I do know that there are a lot of users doing dynamic pricing at this time. We are just in the "consideration" phase of this here at MTC and I have a question for all of you doing it.

I know there are several ways to execute this, but I am wondering if you all would share your methods.

What functionality are you using to accomplish it (price maps, editable pricing etc.), and what are the pros and or cons of the method you chose.

Any insight is appreciated as usual.

Thanks

Jen

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We have used it before to send money to two different places so I figured it was fine but also figured there would be some cons to doing that.

Thanks all and Christy for pointing out the reports to consider.

I have some reports that calculate number of tickets based on the Ticket Price map so it would double count tickets if I used multiple Ticket Price maps.

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From: Ryan Rowell <bounce-ryanrowell5634@tessituranetwork.com>
To: Nicole Keating
Sent: Wed Nov 11 19:42:56 2009
Subject: Re: [Tessitura Ticketing Forum] RE: RE: RE: Another dynamic pricing question

We have used it before to send money to two different places so I figured it was fine but also figured there would be some cons to doing that.

Thanks all and Christy for pointing out the reports to consider.

Ryan - we struggled with this question, and ended up doing exactly what you suggest here.

The problem is, we've got way too many price maps to create an increased-price version of each one. To do that would be a nearly all day task each time we want to increase prices.

Instead we have one $5 map called "price increase" and we add it to each price type every time we increase prices on a performance or set up performances. Sometimes we increase prices on a show twice, so there ends up being four price maps on some shows, including our embedded fee.

As has been mentioned, this method will make set-up way easier, but can give you enormous headaches in reporting. For us, nearly all of our marketing reports are custom and were not affected, but season overview will count each price map that is in the ticket price category as a ticket sold. We got around this by using a new price category that we call "price increase" for that particular map.

As you may have guessed, season overview only sums the monies that are in the ticket price category. So, we had to create a localized version of the load procedure.

All-in-all, I think the pros outweigh the (admittedly, not insignificant) cons. In addition to making set up exponentially easier, we can very easily see the monies that are brought in by a price increase. But, as was said earlier in this thread, it's a good idea to test all your reports thoroughly before you implement any solution.

Thanks Brian and everyone!

This is some great information to have moving forward.

Cheers!

Thanks Brian and everyone!

This is some great information to have moving forward.

Cheers!