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Where audiences choose to go, how often, to what art form and how they find out about events is critically important. Maintaining accurate and up to date data on customers will help to inform and shape a marketing strategy to encourage more frequent attendance and build better customer relationships.

Nick Beasley, Audiences Wales

Jargon Buster

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Discount and percentage discount

What does this mean?

A generic term relating to a reduction in face value made by a charging facility on the published value of an admission. These can be offered as part of a marketing initiative or as part of the usual concessions policy.

Thus such marketing-related discounts could take the form of a sales promotion special offer, or a subscription scheme. See also discount.

How did we get this definition?

A ‘discount’ is a generic term for a reduction in the price charged to a customer for an admission ticket. It therefore includes discounts made as a concession and as part of a sales promotion campaign.

Related and similar definitions

But a ‘discount’ is not exactly the same sort of price reduction as a ‘concession’. Concessions are price reductions offered as part of an organisation’s social inclusion/exclusion policies, whereas discounts should be seen as a price reduction offered as part of a more commercial marketing and sales promotion campaign.

Consequently techniques such as special ‘save money’ offers, ‘two for the price of one’ and ‘buy one get one free’ should all be recorded, analysed and reported on as ‘discounts’.

When to use

When such data is available it can be used to monitor the take-up, effectiveness and relative success of any special offers made.

Formulae & Worked Examples

The formula for calculating a percentage discount is:

DM ÷ FP × 100

where: DM is the discount made and FP is the full price. For instance, if your organisation was intending to offer a £2 reduction on tickets that normally had a full price of £10, then the percentage discount would be:

2 ÷ 10 × 100 = 0.2 × 100 = 20%

So the percentage discount being offered here is 20%.