OnDemand WTP Pricing Research

Rising, moving and crashing: Dynamic pricing | ArtsProfessional

It does pretty much what we had thought it might do, using the flexibility provided by computer-based box office systems to let our ticket prices be as fluid as they want to be. From last September we have introduced three new models to our box office – Rising prices, Moving prices and Price crash – which we are testing in series to see what impact they have on sales and what our customers make of them.

Rising prices events essentially creep up in price over time, starting from as much as 50% below a core price (what we would have priced it as at any other time) and ending up 50% over that price. Moving prices events float above or below the core price depending on whether current sales are above or below expectations. Price crash is pre-selected, completely at random, to crash the price by 75% for half an hour only. We fire out Facebook posts and tweets to let our social audience know and hope they come rushing to our door.

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Rising, moving and crashing: Dynamic pricing.

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