Pricing Strategy

The pricing structure is an approach in services and products pricing which explains various discounts, prices, offers to depend on organization strategy and goals. The company growth and customer's perception can be affected by the price structure. They affect not only the bottom line but also the perception and brand image. According to Garden Beats Festivals, 2019 the first customer's tickets go for $108 per ticket, lazy bird $ 128 per ticket, for standard $148, significant people $ 178, for a bundle of five people $ 490 (per person at $98).  Garden Beats Festivals 2019 has variable rate pricing structure based on the time the people buy the tickets and the number of people who buy tickets. This inspires individuals to buy their tickets earlier because they get them at a lower price and they are penalized by getting them at higher prices if they wait at up to the last minute. This type of pricing structure helps different customers to get arrangements depending on their preference and also depending on the living standards of an individual. It also encourages people to buy as a bundle because it is cheaper than buying an individual thus getting more customers and increasing productivity.

According to Garden Beats Festivals, 2019 two types of pricing strategy are used. Pricing is the progression, and its main aim is to provide an approach that helps in maximizing the company revenue. The pricing can either break or make the event (Nagle, & Müller, 2017). If the prices are too low, the concert would be unprofitable, and it would be hard to make a healthy profit margin in the long term. High priced tickets can help in covering the cost and produce a reasonable profit margin, but the problem comes to getting enough people to buy the tickets. The pricing strategy can help in pricing the event rights so that the goals and objectives of the concert can be made. Cost-plus pricing is one of the strategies used by Garden beats festivals in 2019(Nagle, & Müller, 2017). They sell the tickets more than then the cost they are made of. This is made by adding up all the cost of providing the concert and adding up the profit margin on the top of the cost so

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