Price: The biggest two events of this year were the longest lunch which had a $115 ticket and the Stars of Europe Grand Dinner with a $185 ticket. The pricing strategy for the festival is perceived value pricing that is what the customers expect since it is based on market research but for the regular events like wicked Sunday which costs $8 per kid for the tour and $20 for classes and the Connex Sizzle that has a $35 ticket.
All such regular events have tickets ranging from $8-$40. But the major events like longest lunch and Stars of Europe dinner have a premium pricing strategy that is charging the premium or highest price for the most attractive event of the season (Melbourne, 2009).
People: Natalie O’ Brien is the chief executive officer of the Melbourne Food and Wine Festival. She with her dynamic and committed team have made this festival the largest in the world with growing attendants every year as tourists toAustralia (Melbourne, 2009).
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