Case Study - Garden City Museum

Your company Pricing Solutions is a leading pricing consultancy company in South India. An old client, Garden City Museums,was about to re-open their museum's doors after a one-year period of repair and renovation. Located close to the sylvan surrounding of Cubbon Park, the museum was one of the popular museums in Bengaluru. Bengaluru has a rich tradition of museum visit by local residents, students and tourists alike and museums like Visvesvaraya museum are packed even on week days.

Garden City Museum is about 90 years old and many a times parents and grandparents accompany small kids and share their memorable experiences of the place. Despite such favourable impressions, prior to closing for renovations, the Garden City Museum had experienced a long-term decline in attendance numbers and ticket sales.

The science museum has two companion museums, one for aviation and one for electronics, with a membership to cover all three. The client wondered if a reasonable return on revenue (ROI) could be delivered for the substantial work that had been done to renovate the museum. Specifically, Pricing Solutions have been tasked to make recommendations about setting admission price for the science and the companion museums as well as for parking.

Question:

a. As a lead consultant of Pricing Solutions, discuss the various pricing strategies that you would consider and their applicability and your final recommendation for the museums and parking charges. (10 Marks)

b. What additional pricing and capacity utilization recommendation would you make to maximise footfall, considering that currently, footfall gathers pace only post noon.(5 Marks)