Marketing of fine arts: A study on fine arts of Bangladesh

While the fine arts are a successful business, marketing academicians have largely neglected the fine arts market. This is unfortunate because the expressive nature of fine art works provides an opportunity to extend marketing exchange theory further into the realm of symbolic and social values. In this paper, consideration is given to the artist, to paintings as products, to the industry and its marketers, to purchasers of painting as markets with diverse purchasing motivations, and to aspects of fine arts pricing. This study has identified that there are three types of marketers in this industry who usually market their products, that is, paintings, to five categories of markets or customers. This study also helps to gather knowledge about the pricing strategies marketers use to sell paintings in Bangladesh and identifies some important factors that influence customers’ demand to purchase this kind of product.