Museum Pricing Homework (20 Points) Please submit your answers to the following questions on Blackboard. Be sure to answer each question with enough detail for full points. Use the pricing graphic for the Royal Ontario Museum below to answer the questions. NOW OPEN NOW OPEN General Admission (includes admission to over 35 galleries and non-surcharged exhibitions) Egyptian Mummies Winnie-the-Pooh (includes general admission) (includes general admission) Members FREE Members FREE Members FREE Adult $35 Adult $31 Adult $23 Child (4-14) $21 Child (4-14) $18 Child (4-14) $14 Student (with valid student card)* $29 Student (with valid student card)* $24 Student (with valid student card) $18 Senior (65+)* $29 Senior (65+)* $24 Senior (65+)* $18 Youth (15-19) $29 Youth (15-19) $24 Youth (15-19) $18 Infant (0-3) Free Infant (0-3) Free Infant (0-3) Free Buy Tickets Buy Tickets Buy Tickets Reserve Member Tickets Reserve Member Tickets Reserve Member Tickets 1. Using the graphic above, describe three (3) different pricing strategies that the Royal Ontario Museum uses. For each pricing strategy, explain what it means in general terms and show how it applies at this museum. (10 points) 2. Like many museums, the Royal Ontario Museum has a gift shop. What type of product-mix pricing strategy is used when museums sell memorabilia or other items in their gift shop? Explain. (5 points) 3. Of the three main pricing strategies (Customer Value, Cost, Competition), which one do you think applies most to a museum? Defend your reasoning. (5 points)