Pricing Theory and Best Practices
May 24, 2011
Pricing Theory and Best Practices: How to make revenue management work for your arts organization
Many arts organizations are trying their hand at revenue management and meeting with success. This workshop will present an overview of pricing theory and best practices via case studies and interactive discussion.
The workshop will give an overview of which revenue management approaches work best across arts organizations of all sizes (large to small venues), resources (high tech and low tech, large marketing teams and small), and genres (performing arts and visual arts).
The workshop will also answer the following questions: Can revenue management be applied to the visual arts as well as the performing arts? How can my organization get our pricing right the first time so we can make the most effective revenue management decisions (both raising and lowering prices)? What are some of the most radical uses of revenue management? How can we manage internal and external communications once we implement revenue management?
Steven Roth is President of The Pricing Institute, which helps cultural organizations develop pricing strategies that maximize income and optimize occupancy. Pricing Institute partners have worked on over 250 pricing studies worldwide. Steven is also Board Chair of ArtsBoston.