2.3 Price

2.3 Price
Pricing is a very important aspect of the marketing mix, it can affect the demand of the people towards the event, and it can determine whether the event will be successful or not. In this case, I believe that Singapore Biennale is not created on a commercial basis, but however on a political basis. It is a way of the National Arts Council of Singapore to promote Singapore as a country that supports fine art, and also influencing its people to take part in the art revolution, and at the same time educate them to understand and enjoy contemporary art.




The single entry pass ticket to Singapore Biennale 2008 is charged at $10 for adults, $7 for all passion card holders and $5 for Senior Citizens above 60 years old and students with valid ID. In my opinion, the prices for the ticket would only allow them to break even between their cost and profit, considering the number of exhibition venues, buildings, staffing and others.

With just a single ticket, the visitor is entitled to visit the indoor exhibitions in City Hall, South Beach Development and also take the Singapore Flyer in “Singapore Biennale style” at a discounted price. The ticket comes with a complimentary guidebook too, which they are selling at $6 each. The Biennale is also accountable for the outdoor exhibitions which are free-for-all to view. With all these costs in mind, the visitors are getting so much more than the ticket price they paid.



Opinions

I believe that the price set for the tickets for Singapore Biennale 2008 is very beneficial if it is towards the political basis of promoting Singapore instead of the economic basis. The price for the ticket will most probably affect the locals as tourists to Singapore would not mind paying more for such events as it is a one-time opportunity, whereas Singaporeans have more opportunities of visiting the Singapore Biennale 2008.
This low ticket price will definitely attract interested Singaporeans as it is affordable and it is worth the money. Lastly, due to huge sponsorships for this event, charging at such a price for tickets is wise as it will not deter visitors from coming.