Marketing Essay for the childrens meuseum

The instructions for the project were as follows:

1. Select a local non-profit organization from this list:
* Zoo
* Orchestra
* Ballet company
* Conservatory/botanical garden
* Museum
2. Write a 2- to 3-page paper (500-750 words) that includes the following:
* Introduction: Introduce the non-profit organization that you selected from the above list. Write 1-2 paragraphs describing that organization.
* A problem or issue statement: Write a problem or issue statement for your organization. Note: A problem or issue statement is a succinct statement of the major issue facing an organization.
* Issues: Using the chart above, answer the question, "What tactics can the organization use to increase business/profits?"
* A bulleted list of new ideas for each of the four growth strategies. Use the following format:
o Market Penetration: Follow with bullet list of ideas for this strategy.
o Market Development: Follow with bullet list of ideas for this strategy.
o Product Development: Follow with bullet list of ideas for this strategy.
o Diversification: Follow with bullet list of ideas for this strategy.
* Recommended tactics: Select at least one tactic from the bulleted list in each quadrant (market penetration, market development, product development, and diversification). Explain what the organization will accomplish by using each of the four tactics that you selected. Select the one tactic that you would most highly recommend. Explain why you chose that tactic.
* Evaluation: Write 2-3 paragraphs (approximately 250 words) describing how you would evaluate the success of your chosen tactic.

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Growth Strategies

The Children’s Museum of Indianapolis is a non-profit organization which seeks to provide educational entertainment for children as well as adults who visit the museum to engage with the various exhibitions that come on display. While the museum primarily targets children as the prime market, it also encourages teachers and parents to bring in the children since they are the primary decision makers for where the children are going to go on a visit. The museum not only partners with local organizations but also has connections with similar institutes on the international level which means that it has access to a lot of material spread across the world.

However, even though it has strong partners, visitations and the numbers of people who come to the museum seem to be low therefore the museum needs to increase the number of visitors it has per annum. In 2007, more than one million people visited the museum but this number can be significantly increased (as well as the revenue generated from the visitors) if there are certain tactics and steps which are undertaken by the museum over time. These ideas are connected with market penetration, market development, product development and diversification.

Market Penetration:
• Expand the marketing budget of the museum to obtain greater visibility and make the brand more recognizable.
• Present a day at the museum as an exciting trip which is more educational than a trip to the amusement part as most of the time there is spent waiting in lines

Market Development:
• Consider the premiere of a film to take place at the museum as long as the film is connected with children or comes with a historical reference.
• Some exhibits of the museum should be sent to schools in the region to form temporary displays around high schools in places such as Lafayette or South Bend.

Product Development
• Period dramas and theatre plays for children or for adults can take place at the museum to show what value the museum can offer.
• The sales of the museum gift shop could be greatly expanded if the sale points are placed in malls such as the circle center mall close to stores such as the museum company store.
• International travelling exhibitions could be brought to the museum such as art produced by children or music produced by children around the world.

Diversification
• The museum should target adults with the auction of art created by local children of Indianapolis. Silent auctions or even open bidding could be held in which the parents could bid on the art produced by their own children and the proceeds should go to the museum.
• Other exhibits, such as children’s historic films or even the history of electronic video games could be a popular attraction not only for children but also for adults interested in these subjects.

While all these tactics could be very useful, some seem to have a greater advantage over the other. For example, expanding the marketing budget of the museum would give it greater visibility and certainly create a pull which brings more people to the museum. If their experience is positive, word of mouth itself would encourage more visitors and thus result in free advertising for the non-profit organization. Similarly, having the premier of a historical/action film such as National Treasure or even a popular children’s film could be a significant boost to the museum in terms of visibility and media attention.

When it comes to product development, it is unlikely that the museum would be able to easily acquire historical artifacts connected with children in the local region but if it moves to the international circuit, partnerships with other museums would be very beneficial. For example, the museum could borrow ancient toys from other civilizations and create interesting displays about children in ancient times. Stories told to children in Ancient Rome or the Toys used by Ancient Greek children could be interesting additions to the collection of the museum and generate visitors from all across the region. On the other hand, the museum could jump to the modern age and have an exhibit on the history of video games which would not only bring in children but also computer aficionados and those who enjoy video games. However, if only tactic had to be selected then an increase in the marketing budget would be the best way to go in the short run. This is because it would give an immediate rise to the visibility and accessibility of the museum.

The evaluation of the success of the increase in the marketing budget would be a simple evaluation of the number of people who come to visit the museum. If the target given to the individuals responsible for marketing the museum and making sure that more visitors come to it is successfully met, then the door receipts as well as ticket sales to the museum would certainly increase. This increase can be compared to the ticket sales and figures in the previous quarter to see what effect the marketing budget has had on the traffic coming to the museum. Other factors, such as the general condition of the economy, prices of the tickets and even the weather at the time of the year may influence ticket sales but in general, it should be easy enough to know if the tactic has been successful.

Works Cited
The Children’s Museum of Indianapolis. 2008, Annual Report: Making a Difference, The Children’s Museum of Indianapolis. [Online]

Other Details about the Project/Assignment
Subjects: Business Management -> Marketing
Topic: Marketing Essay for the childrens meuseum
Level: College / University
Tags:

Marketing Essay, Analysis Paper

Price: $1.95

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Project Details

Subjects: Business Management -> Marketing
Topic: Marketing Essay for the childrens meuseum
Level: College / University
Tags:

Marketing Essay, Analysis Paper

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Marketing Essay for the childrens meuseum

Marketing Essay, Analysis Paper

Marketing Essay, Analysis Paper