1. Setting Pricing and Revenue-Building Strategies
Price
Setting Pricing and Revenue-Building Strategies

2. Admission Fees Remain free to the public
Request a donation at the door
Charge admission
Setting prices for other services

3. Pricing Pricing admission
Pricing loaned objects and traveling exhibitions
Pricing special exhibitions and events
Pricing memberships
Pricing items in the gift shop
Pricing rental of museum facilities
Pricing donor support

4. Setting Admission Fees
Charge the same price to every visitor
Charge different prices to different classes of visitors (multiple pricing, discriminatory pricing)
Establish a membership program
Request voluntary contributions
Post suggested admission prices or donation levels
Charge a price, but establish free days or blocks of time Charge different rates for different seasons
Regularly
Occasionally

5. Price Elasticity Price sensitivity of the target market
Break point beyond which its public showed resistance.
The rate of customer turnaround
Alternative leisure-time activities

6. Distinction between: Nonintenders
Nonattenders – pricing is not the central issue
Intender-rejecters – as a result of pricing policy

7. Barriers to Visitation besides Admission Fees
Traffic conditions and parking
Distance
Long line
Hiring a babysitter
Paying admission fees for children
Physical barriers

8. Objectives for Setting Admission Fees
Charging to maximize the number of visitors
Charging to maximize cost recovery
Surplus building
Charging what comparable museums charge
Charging what other leisure activities charge
Charging a single, uniform price
Charging to maximize revenue
Charging the socially justified price

9. Pricing Objects Loaned to Other Museums
Loans involve expenditures
staff time
costs of packing, shipping, and insurance
Art museums do not charge lending fees
Charge lending fees
to cover in-house costs
to discourage the frequency of loan requests

10. Pricing Special Exhibitions
Expense often establish a special admission fee
Balance not discourage citizens of limited means

11. Events Events present good opportunities for earning additional income
Opening night receptions and dinners
Social gatherings for young professionals
Anniversary parties
Celebrity receptions
Seasonal events
Themed events
Musical and theatrical events
Holiday events

12. Pricing Special Events
Good opportunity for earning additional income
These prices cover the cost of
keeping the museum open
hiring staff
purchasing and serving food
Expenses amount to half of the price charged
It would take a lot of visitor admission fees to equal the level of revenue arising from a special event

13. Special Social Events
Special social events do not interfere with customary museum operations and hours
Participants typically represent a segment different from the regular museum-going visitor.

14. NOTICE Events show diminishing returns
Museum's facilities experience excessive wear-and-tear

15. Membership Programs Purposes Actively attending the museum
Supporting the museum
Provide an independent revenue stream

16. Pricing Membership Programs
Standard membership levels
Single memberships
Family memberships
Students membership
unlimited free admission
a discount on museum gift shop purchases
Higher membership levels
Invitations to special programs
Behind-the-scenes tours
Meetings with directors and curators
Free exhibit catalogues and other gifts

17. Gift Shops
Near museum entrances
Prominent locations
Expanding in size

18. Gift Shops - Special Market for
Souvenirs
Books
Gifts; glassware, tableware, clothes
Art
Educational games
Reproductions of museum objects

19. Pricing Gift Shop Items
Items priced on the high side
Items priced at the level of museum-goers' expectations
Items also found in department stores
Another pricing principle - offering a discount to museum members

20. Pricing Rental of Museum Facilities
Facilities are attractive to a variety of groups and organizations
Receptions and corporate dinners
Corporations pay a premium price to host a social or business event
Standard markup over the actual cost for local government social event
Not to rent facilities out too frequently (Scarce goods)

21. Pricing of Donor Support
Raise money from
Individuals
Foundations
Corporations
Government agencies (Government and EU grant proposals)

22. Donor Benefits Names on individual or group plaques
Names as sponsors of special events or as patrons
Names of specific museum galleries
Names on galleries for a limited period or permanently
Pricing donations and gifts from individuals and companies on principles of segmentation, positioning, and tailoring incentives to donations.