Price protest. Why are prices increasing at concerts in Azerbaijan?
MediapostI answered questions from
If we look at the issue of price protest from a marketing perspective, the increase is not only felt in prices. The number of guests, concerts and events held has also increased significantly compared to previous years.
One of the main factors driving this growth is the need for mass events and concerts after a long pandemic. They are, so to speak, a substitute for the days they missed.
The entertainment market is growing
In addition, the market share of mass entertainment events is increasing. In particular, the “Z” generation wants to see the concerts and gatherings they constantly follow on social media pages in their own country. Therefore, they are willing to pay money, travel long distances, and even stay there. Previously, men dominated this type of entertainment. The increase in the number of women in this field not only increases sharing, but also brings customers with it as the issue of trust increases.
As for the price factor, in such cases, the prices are determined by the concept of supply and demand. If we take the ticket price of 20 Azn as an example in the concerts held, the organizer, seeing the crowd on the day of the concert, raises the ticket price the next time. His goal is also higher profitability so that these events can continue and he can invite more and more popular people. In other words, in simple terms, the organizer continues to test his luck as long as he sees that the number of participants does not decrease against the background of the increasing price.
Event pricing regulation is still in its testing phase.
To determine an exact price, this process needs to continue for a while and the results need to be measured. Of course, the price may vary depending on the guest, the location, and the overall concept, but at this point, I think this increase is generally in the testing phase.
Currently, concert organizing is in a growing dynamic and this dynamic will continue to grow. After a while, when prices stabilize, service competition will begin. If we look at the issue from the customer's perspective, that's when the most interesting concerts we'll see will begin.
"After a while, when prices stabilize, service competition will begin. If we look at the issue from the customer's perspective, that's when the most interesting concerts we'll see will begin."
Baylar Alizade
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