What Price Entertainment?
AIM Research Ltd and Decision Modelling Consultancy
INTRODUCTION: PRICING AND THE ARTS
Frequently within the arts, pricing is afforded relatively little detailed consideration. It may be agonised over briefly, but once considered, a decision is quickly made, and preparations continue for the event or events planned.
This is understandable, given the relatively clear cut pricing norms which exist by event type, both in the minds of the organisers, and in the minds of the potential attenders (Walshe 1990).
Yet price is an essential element in the consumer decision process within any market: that for opera as much as for banking, musicals as much as for groceries, and will have a significant impact on the success or failure of the event planned.