Case Study: Solving the Attendance Challenge at Chocoversum Hamburg with Pricing
In this Case Study, we describe how we tackled the challenges at the Chocoversum Museum in Hamburg by implementing a variable pricing strategy that satisfies both price- and time-sensitive guests.
Smart Pricer was engaged to assist Chocoversum in defining and enacting a pricing strategy that helps them address their existing business challenges and sets them up to continue their projected growth. Smart Pricer used analytics of the museum’s demand patterns and ticket sales to help Chocoversum meet their pricing goals.
Smart Pricer’s solution to meet Chocoversum’s goals is a variable pricing strategy. A variable pricing strategy allows a company to set a product’s price based on a selected set of parameters like demand or time of day. Variable pricing is a good fit because it allows the museum to accommodate its varied customer base and provide maximum profitability for each slot for each tour.