Abstract
Arts marketers focus a great deal on price, thinking that price drives ticket purchase decisions. What people care about more than price is value. Said investor Warren Buffet, “Price is what you pay; value is what you get.”1
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Notes
Tim Baker, “What Price Value?” Creative New Zealand 21st Century Arts Conference, Auckland, June 26—27, 2008, http://www.creativenz.govt.nz/assets/paperclip/publication_documents/documents/87/original/tim-baker-what-price-value.pdf? 1322079828 (accessed April 14, 2013).
An extensive analysis of this study was originally published as J. Scheff, “Factors Influencing Subscription and Single-Ticket Purchases at Performing Arts Organizations,” International Journal of Arts Management 1, no. 2 (Winter 1999), 16–27.
Adapted from case study published in Joanne Scheff Bernstein, Arts Marketing Insights: The Dynamics of Building and Retaining Performing Arts Audiences (San Francisco: Jossey-Bass, 2007), 136–141.
William Poundstone, Priceless: The Myth of Fair Value (and How to Take Advantage of It) (New York: Hill and Wang, 2011), 156.
Dan Ariely, Predictably Irrational (New York: Harper Perennial Edition, Harper Collins Publishers, 2010), 55–56.
Robert Cross, Revenue Management (New York: Broadway Books, 1997), 4.
Steven Roth, “Center Theatre Group—Beyond Revenue Management,” The Pricing Institute, Center_Theatre_Group_—_Beyond_Revenue_Management.pdf (accessed April 15, 2013).
Steven Roth, “Center Theatre Group—Beyond Revenue Management,” The Pricing Institute, Center_Theatre_Group_—_Beyond_Revenue_Management.pdf (accessed April 15, 2013).
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© 2014 Joanne Scheff Bernstein
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Bernstein, J.S. (2014). Focusing on Value and Optimizing Revenue through Pricing Strategies. In: Standing Room Only. Palgrave Macmillan, New York. https://doi.org/10.1007/978-1-137-37569-8_11
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DOI: https://doi.org/10.1007/978-1-137-37569-8_11
Publisher Name: Palgrave Macmillan, New York
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