Price Sensitivity Analysis

Understand your audience's willingness to pay post-COVID-19

Recover revenue through optimized ticket pricing

JCA Arts Marketing, together with our partners at Baker Richards in the UK, have partnered to provide a cost-effective price sensitivity analysis for organizations looking to recover revenue once their venues reopen post-coronavirus. This survey-based analysis will help you answer critical questions that affect pricing, including:

A price sensitivity analysis will provide valuable insight into customer attitudes, allowing you to make strategic, data-driven pricing decisions. 

The Need for a Price Sensitivity Analysis 

As a consequence of the coronavirus pandemic, some customers will be less willing to return to venues and attractions for a variety of reasons. Some will have become acutely price sensitive due to changes in their circumstances, while others may be willing to pay more for something they have come to value even more by its absence.

These effects are likely to be temporary, but to heavily impact the 2020–21 financial year. Levels of price sensitivity will vary widely—up and down—by venue, activity, artform, and audience segment.

The Price Sensitivity Analysis tells you how your customers currently feel about your pricing, providing an essential evidence base for pricing for reopening after COVID-19.

Our Approach: Conjoint Analysis

Many research approaches to price simply produce a single figure—the "willingness to pay". This figure, however, is not useful to most organizations that recognize maximizing sales and income requires a range of different price points.

Our approach, using Conjoint Analysis, captures the different levels of willingness to pay across different segments of your market, enabling you to design optimal differentiated offers. This market research methodology is known for its high levels of accuracy at forecasting consumer behavior.

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Get Up and Running Quickly

To ensure you can get up and running quickly, the survey uses a standard design (some customization possible).

To launch the study, we'll need to know:

  • Three common propositions to test (e.g. Drama / Musical  / Comedy / Special Event).
  • Your typical range of prices for each proposition.

From there, we’ll construct a survey for you to send to your customer base. We take care of all secure data collection and analysis. The results of the Price Sensitivity Analysis are tailored to your situation, and unique to your customer base.

Join the Pilot Program

Price Sensitivity Analysis is based on advanced market research design, which is usually only available at substantial cost.

We believe this analysis provides information which is urgently needed, so we are offering the opportunity for ten organizations to join a pilot program at a highly discounted rate.

Inquire Now

The Price Sensitivity Analysis is designed with the COVID-19 economy in mind. It is available at low cost, and all data will be analyzed by the JCA Arts Marketing and Baker Richards teams, who will compile a report specific to your organization.

Contact Us about the Price Sensitivity Analysis 

To help your arts & cultural organizations succeed, talk to JCA.