Pricing Policy Development for White Nights Festival

<p>White Nights in Perm festival has been held every June since 2011. It is the most significant event in Perm and the whole Perm region. The festival has both social and economic aims adressed to the wide range of stakeholders: local government, festival workers, participants and spectators, and also local businesses engaged in delevering services to the festival visitors. The current research is an attempt to optimize White Nights festival business model by developing a pricing policy which enables to get an extra income for the economic agents involved in the festival staging. As a result of the analysis of visitors&#39; behaviour focused on the structure of visitors&#39; costs the comprehensive pricing policy was developed using the principles of gamification, flexible pricing schemes and the specific proposition targeted to the particular visitor segment.</p><p>Key words: festival, pricing policy, visitors&#39; behaviour, visitors&#39; costs, gamification, flexible pricing schemes</p>