Abstract:

The museums, custodian of our cultural heritage are a socio-cultural phenomenon as well as an economic phenomenon. The main issue for operation of museum is an admission-entrance fee. In order to solve an admission-entrance fee problem, there are different tickets types. This study aims to develop a policy for museum’s revenue by setting different the access fee values to the museum for only full fare. Depending on weather conditions this access value can classify into three groups; Regular, Exclusive and VIP. In order to attract more customer, museum operation is planning to give a souvenir as a gift to visitors in inclement weather time. This study considers how handing out the souvenir to visitor will affect the profit. Utilizing the optimal price of the Museum operation, yearly average extra revenue is calculated and compared with when other access policies that are applied. We illustrate our approach with an application to empirical data from Topkapı Palace Museum. Monthly data is considered from Jan 2010 to December 2012. As a result, to make profit of extra revenue of museum operation regular access demand can be maximum 60% of total visitor. And minimum fee of VIP and Exclusive accesses can be 400TL and 200TL.

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