MARKETING

Break Even Pricing

the cost involved in providing the product - usually set as the minimum level of price

Cost-Plus Pricing

Establishing the total costs involved in producing a product and adding a fixed mark up!

Variable Pricing

A pricing strategy wherein a retailer alters its prices to coincide with fluctuations in costs or consumer demand.

Market Skimming Strategy

The practice of ‘price skimming’ involves charging a relatively high price for a short time where a new, innovative, or much-improved product is launched onto a market.

Market Penetration

A pricing policy whereby inventory prices are set very low to gain market control or penetration. Once obtained, prices are raised back to market

Competitive Pricing

A marketing-oriented strategy whereby a service retailer sets its prices on the basis of the prices charged by competitors.

Discount Pricing

Offering a reduced price/rate for certain types and groups of customers.

• DISCOUNT PRICING - offer discount rates to schools and colleges

• ROVER Ticket - yearly ticket priced at £15

• VARIABLE PRICING - rates are reduced between October and Easter as there are less exhibitions available

Political

• changing of the school curriculum
• relationship between the council and the private sector

Economical

• Credit Crunch/Recession
• Reduction of funding from the council

Social

• growth in home based leisure
• ageing population - museum targets school children and families

Technological

• Electronic stock control programme

Strengths

• 30 mins by car from major city
• Holbeck has a core team of staff

Weaknesses

• Lack of public transport to the museum
• Suffers from seasonality

Opportunities

• School Holidays are very popular
• Shop
• Sponsors new exhibitions

Threats

• Decline in weather conditions
• Change in national curriculum