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MSA FORWARD VIRTUAL 2021 Conference Education Session Recording

The Psychology of Pricing. Sponsored by: Grandmother’s Buttons

Presenter: Robin Cantrill Fenwick, Baker Richards

Knowledge Standards: Customer Relations, Operations, Strategic Management

Session Description: Pricing is another form of communication. How you present prices across the visitor experience sends out messages to your visitors. Pricing with common consumer behaviors in mind can have a big impact on conversion and yield, increasing the likelihood of achieving aimed-for results.

This session is a whirlwind tour of some of the key consumer psychology behaviours which have underpinned pricing strategies in more than 700 cultural organisations worldwide. Looking at examples from retail, giving and ticketing we will explore how the presentation of price across a cultural organisation can affect performance in each area.  The session will include some top tips for working together across functions to increase spend.