Case Study

Applying Value-Based Pricing for Museum Growth

Applying Value-Based Pricing for Museum Growth

In the modern experience economy, traditional museums find it challenging to compete with pop-ups and Instagram- friendly exhibits that are so appealing to younger masses. The result is that in recent years many museums across North America have experienced a steady decline in attendance. Our client, a national science museum faced this challenge and wanted to understand how visitors evaluate decisions and make choices between competitive options. Pricing Solutions conducted extensive research that contributed to a revenue increase of ~85% over the museum’s target revenue for the entire year. The Challenge The client was about to re-open its doors after a three-year period of repair and renovation. Prior to closing, the museum was regarded with affection; some favour

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