These are, in fact, three market segments based on the main reason why the consumer may choose this or that cultural offering. Those reasons are the work itself, the desire to do something with someone, or the environment of the venue (architecture, customer service, sense of belonging). Some people choose a cultural event for the …
Interest in mergers increased markedly following the outbreak of the COVID-19 pandemic as the pandemic brought unprecedented distress and uncertainty on the organizations’ future viability. Studies in the past have reported successful utilization of mergers in improving the financial standing and delivering the mission of nonprofit organizations in times of economic crises. A problem with …
Across North America today, arts organizations are typically undercapitalized, too often generate operating deficits, and are fighting to stay solvent. In Canada, fiscal instability was exacerbated when public funding was significantly reduced. Covid-19 has devastated arts organizations even further. All too often, when levels of deficit and negative working capital become intolerable, arts organizations typically …
Pay-what-you-want (PWYW) is a participatory pricing mechanism in which buyers can set any price—including zero—for products or services provided by sellers (Kim, Natter and Spann, 2009). Schmidt, Spann and Zeithammer (2015) and Greiff and Egbert (2018) suggested applying PWYW to goods or services with a low marginal cost of production or supply that provide value …