Marketing Project Presentation Museum
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National Expansion ProjectFANTASTIC FOUR: Chih-Ling Lin Jiaxin Li Bixi Zhang Benedikt StattMW MUSEUM
Executive SummarySTP 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
of prvious work
Business Objective: Expand market across the country both online and offline.
Executive SummaryOpportunity: 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 analysis
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
Target- Customer ProfileGolden 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 Strategy
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
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
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.
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:CarsClothesMusicMachines/Engines TRADITIONAL CHANNELS
Like things the old fashioned way.
TVNewspaperRadioBannersMail to loyal existing customersConcerts (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.
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.
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.
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.
We use the map to find the most effective and efficient channels.More expensiveLess expensiveMore effectiveLess effective
Education InstitutionVRInteractive appsSocial MediaFamily talkradio adsSpecial ExhibitionTVprintsFurther cost information needed.
THANKS FOR WATCHING
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
5.Other databse such as mentile.
Quantitative research:Data cleaning, cluster analysis, segment exploration through R, Excel, and Tableau.
Quantitative referenceData cleaning (NA), cluster analysis, and segment exploration -R code and results
Quantitative referenceCluster analysis results
Quantitative referenceCluster analysis results
Quantitative referenceCluster analysis results and new attributes exploration