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Competition and Costing in Arts and Culture: A Term-Wise Analysis, Quizzes of Production and Operations Management

Washington & Jefferson College (W&J College or W&J)Production and Operations Management

Definitions and explanations of key terms related to competition and costing in the arts and culture sector. Topics include desire competitors, generic competition, form competition, core product, expected product, augmented product, service vs product, three kinds of cost to the producer, two kinds of cost to the consumer, two objectives to setting the pricing, subscriptions, and forms of promotion. Additionally, discussions on demographic and psychographic factors are included.

Typology: Quizzes

2010/2011

Uploaded on 01/25/2011

joseph-eck
joseph-eck 🇺🇸

29 documents

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TERM 1
Desire Competitors
DEFINITION 1
Arts vs. Not doing anything
TERM 2
Generic Competition
DEFINITION 2
Opera vs. Steelers
TERM 3
Form Competition
DEFINITION 3
Theatre vs Theatre
TERM 4
Core Product
DEFINITION 4
What is visibly and essentially being offered
TERM 5
Expected Product
DEFINITION 5
A level of service that you expect
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Desire Competitors

Arts vs. Not doing anything

TERM 2

Generic Competition

DEFINITION 2

Opera vs. Steelers

TERM 3

Form Competition

DEFINITION 3

Theatre vs Theatre

TERM 4

Core Product

DEFINITION 4

What is visibly and essentially being offered

TERM 5

Expected Product

DEFINITION 5

A level of service that you expect

Augmented Product

something that wasn't expected. You get discounts on

certain products

TERM 7

Service Vs Product

DEFINITION 7

not tangible (service can not be touched), perishable (product can

be stored, service can't), Inseparability (service is produced and

consumed at the same time. You have one shot to impress people,

otherwise they might not come back.) Variability (cars are pretty

close to one another. You could have two different versions of

Hamlet. No two shows will be the same. Applies more to the

performing arts) Customer Involvement and Expectation (when the

car was made you weren't involved in it, with haircuts there is a

form of involvement)

TERM 8

Three Kinds of Cost to the Producer

DEFINITION 8

Fixed cost- Costs that would be incurred even if there was no

performance Variable Cost- those expenses associated with

each staged production Incremental Cost- cost incurred for

selling one more seat. Programs

TERM 9

Two Kinds of Cost to the Consumer

DEFINITION 9

Actual Cost- the price of the ticket Percieved Cost- all the

other things. Can be things like mud, buses , babysitter etc.

TERM 10

Two Objectives to Setting the Pricing

DEFINITION 10

Revenue Maximization Audience size maximization