Improving the Methodological Tools of Market Pricing in Exhibition Marketing
Purpose: The purpose of the study is to determine ways to improve the methodological pricing tools in exhibition marketing from market positions. Design/Methodology/Approach: The leading method of research is a systematic approach, which is used to substantiate the economic and mathematical model of the optimal market price of the exhibition area, which is set depending on the quality of the exhibition. In order to measure differences in the quality of exhibition events, authors proposed to use reference-exhibition benchmarking characterized by the best price / quality ratio. Findings: The results of the study form the methodological basis for improving pricing not only in the exhibition business, but also in other areas of business activity. This is possible if the goods (services) are produced in the conditions of a monopolistic competition, and the quality of an individual product (service) could be quantified in a conventional unit, which should be scientifically substantiated. Practical implications: This study is of practical value for both exhibition organizers and their participants. Using of expo-activities of the developed methodological tools of market pricing allows strengthening their competitive positions and increasing the profitability of exhibitions, if the optimal market price of the exposition calculated by the proposed method compensates the average total costs of the exhibition company. Originality/Value: The article substantiates the original conceptual approach to exhibition pricing, which is based on interaction marketing, benchmarking and extremely high price, which prevents the formation of demand from exhibitors, that is proposed to be called the alternative price. It becomes possible to provide a scientific basis for determining the optimal market price of the exhibition area, that maximizes the profit of the organizing company.