Marketing Project Presentation Museum (1)

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Transcript of Marketing Project Presentation Museum (1)

  • National Expansion Project

    FANTASTIC FOUR: Chih-Ling Lin Jiaxin Li Bixi Zhang Benedikt Statt

    MW MUSEUM

  • Project overview

    Executive Summary STP Analysis Promotion Strategy

    Step1: What do we do? Step3: What is the best way to reach them?Step2: Why these segments?

  • What do we do?

    - Executive Summary

    01

    http://ppt/slides/slide2.xml

  • Business Objective: Expand market across the country both online and offline.

    Executive Summary

    Opportunity: Informative database, interactive technology and social media initiatives.

    Method: Qualitative and quantitative research: SWOT, cluster, STP analysis using R, Excel and Tableau.

    Promotion strategy: Design online and offline promotion strategy to consumers of different age, income level, and geographic distance.

    Challenge: Differentiate ourselves among competitors and reach consumers both online and offline.

    Potential target market: CA,AZ, IL, NY, PA, FL, etc.

  • Why these segments?

    - - STP analysis02

    http://ppt/slides/slide2.xml

  • New Empty Nests (24%)

    Couples in their 50s with

    higher income and adults

    kids. Enjoy travelling with

    each other.

    New Life Starter (25%)

    Children-oriented ,41-

    year-old family with

    general income around

    70k. Live an economical

    life. Travel with children.

    Golden Oldies (17%)

    Old (65+) couples with

    relatively high income

    (70k+)

    Young Richers (6%)15 ~ 30 years old young achievers with high education and high income

    Four segments based on customer DB with the help of R, Excel, and Tableau. Market Share based on population DB

    Segmentation

    others

  • Target- Customer Profile

    Golden Oldies

    Aging 65+ couple with high income,we mostly retired and love to travel to places to enrich and enjoy our lives. We love gardening and collections. We are more likely to donate.

    New Empty Nests

    Well-educated and high level income, we dont have to worry about our children and life. We enjoy the time with each other doing sports and appreciating history and art. We can pay the membership for high quality exhibitions.

    New Life Starter

    William (34)and Kate(34) married in 2002. They have two lovely kids, George(8) and Charlotte(4) . They are such a cozy family with general /low income. We care about healthy lifestyle since we have children. We also love art and music. Most importantly, we have interest in casino gambling!! Hope one day we can win the first prize!!

    Young Richers

    Sicong, 28, single, no kids, and rich).Heavy user of internet and smart phone.Loves arts and music, enjoys the atmosphere of museum(not only because it is a nice dating spot).

  • How to reach them? - Promotion Strategy03

    http://ppt/slides/slide2.xml

  • New Life Starter (MARKET SHARE =25%)This is a critical market share that we want to inspire kids to have passion or interest in history and offer a holiday choice for family.

    Family Gallery Talk

    For 4-10 years old and parents/

    caregivers on weekend. Docent gives

    historical story telling in more vivid way

    and can have conversation and

    discussion with kids and parents

    immediately. Parents can use this time

    to look closer to kids and guide the kids

    to have passion in history.

    Reach out by social media, posts,ads

    Music Festival

    Special exhibition of different musical

    theme. For example, music from the

    Romantic era. And cooperated with

    local orchestra or live band for

    outdoor performance. Within the

    event, it can set up activity trails and

    awards to induce more interaction

    and participation.

    Reach out by social media, posts,ads

    Interactive Apps

    Through mini game, such as level

    challenge, kids can learn knowledge in

    more interesting way but also can interact

    with parents. Moreover, people can see

    exhibits come to life in gorgeous colorful

    animation.

    Reach out by social media, ads, QR code

  • New empty nests (MARKET SHARE =23%)High level income parents who have adult children 18-30 years old, more likely to travel delicately in couples. Their value is to become our members and potential donerrs in the future.

    MAIL CAMPAIGN

    Rich, well-educated, successful in career.

    We will send them customized mail campaigns including museum calendar and membership newsletters to encourage them to join our membership and maintain a long-term relationship for future donation.

    SPECIAL EXHIBITIONS

    Energetic, DIY, sports, good taste.

    We will use email and social media especially FB and Instagram to convey messages about new exhibitions of history, animal, nature, and sports.

    RADIO ADVERTISEMENT

    Most have cars.

    Radio advertisements and sponsorship such as National Public Radio Stations can help us reach audiences while drive-time, traffic, and weather broadcast.

  • Golden Oldies (MARKET SHARE =17%)High level income elderly seniors who like travel, art craft, gardening, and are collectors. They have lots of life experience. Their value is to become our members and be potential donators.

    VINTAGE 1950s EXHIBITION

    Rich, mostly retired, have lived through a lot

    Offer a vintage exhibition about life in the 1950s with items of: Cars Clothes Music Machines/Engines

    TRADITIONAL CHANNELS

    Like things the old fashioned way.

    TV Newspaper Radio Banners Mail to loyal existing customers Concerts (Rock,Blues, Jazz)

    EMOTIONAL VALUE/MESSAGE

    Going back to the good ol times.

    Sparking the feeling of joy and nostalgia within audience. Attracting them with items they identify their youth with. Making them feel young again.

  • Young Richers (MARKET SHARE =6%)Although this is a small piece, we still need to cultivate this group because it will grow to be the dominant segment in the near future.

    SOCIAL MEDIA

    Take the advantage of social media, like Facebook, twitter, YouTube. Use them as a marketing channel to broadcast the museums new TV show as well as exhibition announcements, activity and event foreshow. It can also be used to deliver interesting history knowledge and similar information daily.

    VIRTUAL REALITY

    Use this latest technology to revive the ancient times. Let visitors have a direct understanding and feeling about what history really is. It will become one of the most popular activity during the museum tour.

    EDUCATION INSTITUTION

    Collaborate with education institutions like universities. Add the museums online research library into partner schools library source and encourage students to explore it online.Schedule one-day culture trip with partner school.

  • Cost-benefit mapWe use the map to find the most effective and efficient channels.

    More expensive

    Less expensive

    More effectiveLess effective

    Education Institution

    VR

    Interactive apps

    Social MediaFamily talk

    radio ads

    Special Exhibition

    TV

    prints

    Further cost information needed.

  • Appendix

    http://ppt/slides/slide2.xml

  • Executive SummaryQualitative research:Industry insights from:1.National Arts MarketingProjecthttp://www.artsmarketing.org/sites/default/files/documents/practical-lessons/lesson_3.pdf

    2.Audience Building: Marketing Art Museumshttp://www.si.edu/Content/opanda/docs/Rpts2001/01.10.MarketingArt.Final.pdf

    3.Ibis world report

    4.Nielsen Segmenation

    5.Other databse such as mentile.

    Quantitative research:Data cleaning, cluster analysis, segment exploration through R, Excel, and Tableau.

    http://www.artsmarketing.org/sites/default/files/documents/practical-lessons/lesson_3.pdfhttp://www.artsmarketing.org/sites/default/files/documents/practical-lessons/lesson_3.pdfhttp://www.si.edu/Content/opanda/docs/Rpts2001/01.10.MarketingArt.Final.pdfhttp://www.si.edu/Content/opanda/docs/Rpts2001/01.10.MarketingArt.Final.pdf

  • Quantitative reference

    1. Data cleaning (NA), cluster analysis, and segment exploration -R code and results

  • Quantitative reference

  • Quantitative reference

  • Quantitative referenceCluster analysis results

  • Quantitative referenceCluster analysis results

  • Quantitative referenceCluster analysis results and new attributes exploration