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dearwiseone Inner circle Portland, OR 1143 Posts |
I've recently moved from a college town (charging $75-$125/show, birthday shows mostly) to a wealthy area. While there are several very wealthy people, the majority are still average or below average income families. How would you price your shows to take advantage of both markets?
For example, if you price your shows too high, you'll lose the majority of the market, but you'll do shows for wealthy families. If you price your shows too low, the wealthy will think you aren't good and may not hire you. Also, I'm the only magician in the area that will really being promoting myself so there's possibility of a kind of monopoly on the market. |
Tyler_Magician Special user 509 Posts |
You should have more than one type of show. You can have a cheaper, normal show, and then a more expensive show with extras. Look around at other magicians websites and you'll see what I mean.
-Tyler |
magic4u02 Eternal Order Philadelphia, PA 15110 Posts |
I agree with Tyler. Why not confront the problem by offering 3 teired birthday party packages. This means you would have a beginner package, a moderate package and an advance package. This way the wealthy prospects can get what they want and feel that they are getting added value, yet the person with a budget can get some great magic too without breaking their budget either. It allows you to market to both prospective markets at the same time and retaining control of both as best as you can.
Kyle
Kyle Peron
http://www.kylekellymagic.com Entertainers Product Site http://kpmagicproducts.com Join Our Facebook Fan Page at http://facebook.com/perondesign |
Steve V Inner circle Northern California 1878 Posts |
Here in the bay area we have areas that are full of nothing but millionaires and others that may only be half millionaires...first thing I ask is where they are located. After that I charge the same to who ever it is and only charge more if the location is distant. I like the tri-level pricing but why should someone with money pay more for the same product as someone w/out?
Steve V |
magic4u02 Eternal Order Philadelphia, PA 15110 Posts |
Steve that is where there may be some confusion. The tri-level package idea is not the same show but with 3 different prices. The tri-level packages are packages where at each level you are giving the customer a little bit more extra. The pro level might include floating the b-day child on a chair suspension or a flying carpet and a picture taken and given to him, where as the beginner package may not include that. Each package is customized and different to meet peoples different needs and budgets.
Each prospect has the option to choose the package he or she feels best meets their needs and their pricing. On the other hand, it is unethtical to charge different prices if you are doing the same exact show. If you do a tri-level package idea, then you must be clear that each level of packages means a different amount of what you do or what I call add ons that make that level different then the others. Hope this might help clarify a bit more. Kyle
Kyle Peron
http://www.kylekellymagic.com Entertainers Product Site http://kpmagicproducts.com Join Our Facebook Fan Page at http://facebook.com/perondesign |
Donald Dunphy Inner circle Victoria, BC, Canada 7563 Posts |
It is wrong to assume that customers with a lower income will pay less for a show, and customers with a higher income will pay more for a show. Some people without a lot of income go all out for parties, some people with a larger income will try to negotiate you down (even implying or outright stating they have little to spend). This is one thing I have learned in 25+ years of performing.
Success at serving the maximum amount of customers depends upon how well you sell your shows, and how well you deliver your service. If they want it bad enough, they will "find" the money, no matter their income level. I recommend that you just set your prices, offering several different options, for a wider budget range among customers. - Donald
Donald Dunphy is a Victoria Magician, British Columbia, Canada.
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Steve V Inner circle Northern California 1878 Posts |
I'm not confused at all. Tri level means three different shows at different price ranges. What I am saying is everyone should pay the same price for each of the levels, meaning just show everyone pays $125, with balloons $150, with birthday package $175.
Steve V |
magic4u02 Eternal Order Philadelphia, PA 15110 Posts |
Oh of course. Sorry for the mixup. =) Right. Once you set up your packages and what is included in those packages, then you will keep the price consistent no matter who may want it. I agree with you.
Kyle
Kyle Peron
http://www.kylekellymagic.com Entertainers Product Site http://kpmagicproducts.com Join Our Facebook Fan Page at http://facebook.com/perondesign |
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