EXECUTIVE SUMMARY
Friday Night Live at the Royal Ontario Museum began in 2012. This unique and contemporary event provides patrons with live entertainment, food and drink as they revel in the wonders the museum has to offer. Carrie Martin’s aim is to attract at least 3,500 visitors for the grand opening and maximize profits.
To realize these goals, the following steps will need to be followed.
• Set the target market to older adults (aged 35-64)
• Set the event theme to “Celestial Blast”
• Advertise for two weeks in The Toronto Star
• Feature a mixed drink for the evening
Older adults represent 40% of the population and are the biggest spenders. As it stands, their attendance only makes up 15% of the total guests to attend FNL. An influx
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The $15,000 allocated marketing budget allows for a one week run in the business section, and a one week run in the entertainment section, with $971 remaining. Advertising in newspapers is the best way to reach the older demographic as they are less likely to be involved in social networks.
The “Cosmic Cosmo” is a feature mixed drink to fit the theme of the evening. Given mixed drinks provide the highest unit contribution, they are the sensible drink to promote. Although preparing this drink is slightly more costly than a regular mixed drink, the $971 remaining from the promotion budget can be used to cover the extra costs of the first 582 “Cosmic Cosmos”. Even with extra costs, this beverage is still more profitable than beer and wine.
A $2 increase on admission prices has the potential to increase revenues with a low risk of profit loss. A loss would only occur if the price change were to lose more than 572 visitors. An increase to $14 a ticket will bring in extra profits and still remains below the competitors and the ROM’s regular hours
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This unique and contemporary event provides patrons with live entertainment, food and drink as they revel in the wonders the museum has to offer. Carrie Martin’s aim is to attract at least 3,500 visitors for the grand opening and maximize profits. Corporate capabilities, competitors, and consumers will be examined to develop an effective marketing plan.
CORPORATE CAPABILITIES From a human resources standpoint, FNL currently has a great relationship with its clientele and is rich with performers and entertainers eager to take part in the events. This is demonstrated by the growth of visitors to 25,000 in the last season with additional growth expected. By last year’s numbers alone, 2,800 visitors can be expected, demonstrating the objective is not out of reach (see Exhibit 1). As the venue’s maximum operational capacity is limited 5,000 people, a sellout is plausible, creating a feel of exclusivity, encouraging people to buy their tickets in advance. A sold out event would be a huge success not only in achieving the desired attendance, but also for the future episodes in the
The world went into meltdown and ticket sales were setting new records. The demand was so high, a 10-night residency show turned into 50 between 2009 and 2010. 360,000 tickets were sold during the presale. ‘One million people would have the
2.Now a days, concerts of famous artists are usually held in big stadiums and theaters, which brings a huge crowd of fans for affordable ticket prices and the same time, satisfies the high demanded payment for the top artists and earns a profit for the organizers of the shows. However, there are concert management companies, like Nederlander, that manages to charge higher ticket prices for small theater performances and to deliver a “sellout crowd night after night”(Video Case: Nederlander, p.1). Why is Nederlander able to do that when audiences could pay less at stadium concerts?
The major weakness in the survey was not targeting the core group of subscribers that the initial decline in attendance was targeted as a problem. Because the majority of the respondents had not been too a concert in several years, this information will do very little to discover why there has been a loss in season ticket holders year to year. Unfortunately a separate survey must be done at the next regularly scheduled event. This survey must concentrate on the following key areas:
Another recommendation would be increase the public awareness about the museum and build up a strong image. When it comes to publication, the museum spends an average of $480,047 annually. Most of the museum’s efforts and expense is for advertising and promoting for special exhibitions and events only. The museum should get the advantage of the allowed budget and invest more in publication. Coleman Art Museum’s staff should emphasize on the importance of advertising and promotion for the museum during their meeting with the board. Increase the public awareness would increase museum visitation and conversely increase new members joining the museum.
I would assume that even if his attendance increased, he was offering a lower price so he wouldn’t be bringing in as much money to increase the total revenue, along with the price of tickets dropping I would assume that his revenue dropped.
Into the Heart of Africa, an exhibition presented by The Royal Ontario Museum (ROM) that was curated by guest curator Dr. Jeanne Cannizzo was a source of much contention between the people and the museum. The exhibit was inspired by an interest in exploring the hundreds of African artefacts – which had been stolen and collected during the European colonization of African countries – that have been stored by the ROM for over a hundred years. Through this collection of artefacts, Cannizzo intended on retelling the story of Canada’s involvement in the European colonization of Africa. Cannizzo led the planning and designing of the exhibition, however the ROM had significant
By following the same format as the previous survey, the VSO gained no new knowledge as to what will increase ticket sales. Lowering price may help, but other factors such as music that people would like to hear but the VSO doesn’t offer, wasn’t collected. The VSO again wasted their money conducting a convenience sample where results are biased and questionable.
There is evidence of this ticket price increase. By looking at the numbers below you can see the definite price changes. By the
The second option for the festival is to increase the ticket prices. It has been observed that the tickets for Writers at Woody Point festival get sold out within hours due to its attraction. Hence, the business can increase the ticket prices for the customers. In this regard, the festival can offer tier based pricing i.e. selling exclusive tickets at higher prices. The exclusive ticket holders can enjoy all events including writers contest, musical performances and art exhibitions. Nonetheless, this alternative is not as viable as the previous one because high price might detract the customers.
The festival which already receives funding from major companies, can seek out new music focused company sponsorship's that will provide aid for the costs of the concerts. The last opportunity for the festival includes the role it can provide in educating the local youth about local cultural music, theater, and arts. Many may grow up to have a strong appreciation towards their own communities’ festival.
My wife and I have developed a marketing plan for the opening of a new antique store in our neighborhood. There are three reasons we believe this will be a profitable opportunity. First, we both love antiques, and have learned a great deal about authenticating, pricing and conserving the value of these pieces. Next, we have business experience from our venture in consulting work. And thirdly, one of the major antique stores in our area has ceased operations. Develop a marketing plan for business
Marketing to the “Salt of the Earth” tapestry segment according to ESRI, my Skyline will have to have a focused marketing strategy to help educate customers on the Skyline tradition: a tradition that isn’t well known outside of current market areas. Based on ESRI tapestry data, this older market segment prefers to conduct business in person rather than online, making marketing more of a challenge. According to Skyline, the most successful franchises find ways to get customers hooked for a lifetime, through various engagements with the community, which matches the demographic preference of my primary trade area (Figure 6). To market competitively, my Skyline will educate new consumers, through event marketing at Findlay’s local events. Events similar to the local “Chili Cook Off”: a large competitive chili event hosted by local event hosted by Cancer Patient Services of Hancock County, serve as a great platform to allow customers to taste the chain’s delicious recipe, and build goodwill within the community. Flag City Balloon Fest, Boogie Nights on Broadway, and other other large events within the Findlay area would also serve as excellent places to directly market to consumers (“Chili Cook-Off - CPS,”). Engaging in the community as much as
In recent years the growth of the festival’s attendance has created a problem for many visitors in their ability to find lodging. Resulting in many having to stay in motels and/or bed and breakfasts as far as 60 kilometres away. Readings and musical events sell out within hours after tickets go on sale. Additional readings have been added, but the demand still exceeds the supply.
This report will involve Ace Consultancies to investigate the proposal of a hallmark event held at Suncorp Stadium in partnership with XXXX Brewery. Evaluation and analysis of business requirements will also be investigated.
The Royal Ontario Museum located in Toronto, features the event “Friday Night Live”, run by Carrie Martin, vice president of programs, events and commercial services. Martin is responsible for creating a profitable plan that advertises this event in a distinctive, unique way. FNL’s main goals are to increase exposure to the 19-34 age group as well as increase revenue. The overall increase in competition derived from the GTA generates worrisome as to whether the ROM night event can sustain their popularity. Their objective is to attract at least 3,500 visitors along with an increase revenues and profits by the grand opening date on October 9, 2015. The new marketing plan made by Martin will be put into effect to accomplish these goals and ensure that the overall sustainability of the event can continue in the future.