Pricing Strategy
Ifetayo Cultural Arts Academy
Ifetayo Cultural Arts Academy
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Pricing Strategy
Project details
What we need
- Analysis of Organization’s target audience, competition, costs and products/services
- Recommendations for pricing for existing products/services
- Assessment of whether any products/services should be discontinued or offered at differential price points based on constituents’ needs
Additional details
We are currently looking to create a new pricing model for our Cultural Arts Program. Our current pricing model hasn't been assessed in over 10 years and we need to understand the true cost for both us and ultimately our community (customers).
What we have in place
- We currently have a pricing model with a general idea of what needs to change, which should make it easy for you to get started. We also have a detailed expense list & program revenue amounts, and the ability to provide any other information you need.
How this will help
This project will save us $6,868 , allowing us to increase the number of scholarships available to families in need. At our current rates, these savings could offer 15 full scholarships or 30 partial scholarships to our families.
Our current model does not support the true cost of the program. Post pandemic our grant/foundation support has decreased coupled with rising inflation. We need a new pricing model to allow for the program to fully cover itself and reduce our reliance on outside funds.
Project plan
Posted by
Makeda A.
CAP & IYE Program Director
Our mission
Ifetayo Cultural Arts Academy empowers youth and families of African descent to achieve high levels of educational, professional and artistic excellence. As a leading Brooklyn-based institution, we inspire future generations to develop a strong African-centered cultural identity and realize their power to transform social inequity.
What we do
Ifetayo's programs are designed to empower young people and their families to reach their full potential and to become change agents for their community, whether through in-school Arts Education, onsite beginner-advanced Cultural Arts Program, or the Ifetayo Youth Ensemble- Ifetayo's signature ensemble of 17-20 young leaders who leverage their multi-disciplinary training to mount socially-relevant, interdisciplinary works each year that raise awareness of issues facing their community from AIDS to the prison industrial complex. Unique to Ifetayo, the Rites of Passage Program grounds young adults of African and Caribbean descent in a deep appreciation and understanding of their heritage, while preparing them for the world around them through work readiness and financial literacy training, college and career counseling, monthly workshops with topics ranging from health to sexuality, and gender-tailored initiatives such as Sisters in Sisterhood and I Am My Brother which provide a safe haven for young people to grow and develop as confident, emotionally mature, and engaged members of their community. Meanwhile, the Financial Education Institute and Marcus Garvey Cultural Heritage Program fold entire generations into the Ifetayo community through wrap-around supports that include financial literacy workshops, matched savings accounts, cultural education workshops, lectures with guest speakers, and group travel.
Together, these initiatives foster cultural awareness and pride, build a strong sense of community, and holistically support families of African and Caribbean descent.
