2.8 Price

A ticket to the Singapore Biennale costs 10 dollars. Besides being grant entry into the exhibition area, the ticket holder is also given a short guide booklet which would normally cost 6 dollars if bought separately. The 10 dollars includes entry into the 2 main indoor venues at City Hall and South Beach development. By setting at such a low price, the organisers of the event are probably aiming to attract people from all income groups so that price would not be a consideration if they do have an intention to visit the exhibition. After, ticket price is not the only price to pay, visitors also forgo their personal time, travel costs, lost opportunities etc. It could said to a certain extent that the event is using price penetration strategy attract more people (gain market share?). Students and the elderly in general have less motivation to go to art exhibitions. According to the law of demand, lower price results in a higher demand. Thus, special concessionary prices at 50% are offered to these 2 groups to attract them to come.