The New York City location of Madame Tussauds (MTNY) in iconic Times Square hired Integrated Insight to conduct a competitive market assessment and develop a holistic revenue enhancement strategy. The leisure market was sized and segmentation strategies recommended to increase market share. As part of the assessment, a more integrated product and pricing hierarchy was proposed to establish price integrity, to optimize spending among current guests, and to improve penetration of visitors to New York City. Admission products and price stratification were expanded to pull guests into desired behaviors, with strong upsell and marketing messages imbedded in the pricing structure. Special events and premium experiences were also added to appeal to different segments. Distribution and promotional strategies were recommended to round out the holistic revenue strategy. Recommendations identified an 11% improvement in EBITDA.
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Services: Pricing Strategy, Competitive Market Assessment, Revenue Strategy