People, Preferences & Prices: Sequencing the Economic Genome of the Consumer Mind

Not all Culture Comes from Yogurt... Putting a Price on Visiting Art Exhibitions

Author(s): Alex Gofman

Pp: 195-203 (9)

DOI: 10.2174/978160805249311101010195

* (Excluding Mailing and Handling)

Abstract

Attracting young people to attend an exhibition is not an easy task as one has to deal with their existing preferences and try to find a right combination of messages to increase the probability to attend an exhibition and hopefully their propensity to pay more for the admission. In Europe, many students enjoy advantages of free or deeply discounted admission to exhibitions. Americans might learn from this. It may turn out that the future of museums must be in free admission. For museums to survive and thrive they may have to go back to a world where exhibitions are paid for by advertisers, rather than by the consuming public or funded by a subscription model, paid up front, rather than on an ‘as you go’ basis. Our data certainly suggest that this subscription model is better; there is very little of a specific nature to create a burning passion in the young museum visitor.

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