Break Even Pricing
the cost involved in providing the product - usually set as the minimum level of price
Establishing the total costs involved in producing a product and adding a fixed mark up!
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.
A pricing policy whereby inventory prices are set very low to gain market control or penetration. Once obtained, prices are raised back to market
A marketing-oriented strategy whereby a service retailer sets its prices on the basis of the prices charged by competitors.
Offering a reduced price/rate for certain types and groups of customers.
HOLBECK PRICING SYSTEMS
- 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
PEST (Linked to HOLBECK)
- changing of the school curriculum
- relationship between the council and the private sector
- Credit Crunch/Recession
- Reduction of funding from the council
- growth in home based leisure
- ageing population - museum targets school children and families
- Electronic stock control programme
SWOT (Linked to HOLBECK) 1
- 30 mins by car from major city
- Holbeck has a core team of staff
- Lack of public transport to the museum
- Suffers from seasonality
SWOT (Linked to HOLBECK) 2
- School Holidays are very popular
- Sponsors new exhibitions
- Decline in weather conditions
- Change in national curriculum