Marketing Mix
Product Decisions
Springfield Art Museum will house decorative artwork and designs that reflect Missouri residents’ cultural heritage. The establishment will also have a permanent collection of hundreds of artifacts from other cities in the country, including New York, Philadelphia, and St. Louis. The museum will still hold exhibitions for visitors in Missouri and other cities; however, artwork remains its primary product. Besides the products, the museum will provide additional services, such as the Placeworks Program, classes and workshops, events, family learning and fun, as well as group tours and field trips. According to Strategic Plan (2014), such a new line would improve the product offering and make the museum more competitive. This approach will set the museum apart from competitors who only market art. The services are necessary to attract new clientele to the museum, especially those who want to learn more about art to add value to their work.
Price Decisions
Marketers should determine the price of the products and services at the museum. Connet (2004) defines price as “the exchange value of a product or service” (9). The price will include the monetary, time, and psychological costs of acquiring the product or service. However, the marketing strategy for the museum will be different from other art museums to achieve the objective of advancing the cultural heritage of the city of Missouri. As a result, the management will allow free entry to the art museum to the public. It will be different from other museums in the region and the country, which charge the industry’s average fee of $6. The free services are aimed at attracting the public to the museum and advancing its goal to showcase the heritage and traditions of Missouri (Mudzanani, 2017). The museum competitiveness will be determined by the ability to attract visitors from the target market.
Place Decisions
The place is the location in which the company targets to market its products. Businesses should make the decision carefully since the site determines their effectiveness in reaching customers (Colbert, 2014). Springfield Art Museum is locatedin Springfield, Missouri; hence, the proposed plan is to maintain the same place as its location. The nature of the business does not require distribution because customers will come to the museum. The establishment is located strategically to attract customers from the city and others around the country. The building is accessible through a network of roads. The location is strategic since it is almost a central place, which makes it the main competitive advantage.
Promotion Decisions
The company will use an integrated communication strategy to market its products and services to the target audience. The approach will include a consistent message that the marketing team will deliver to customers through various channels. The promotion executives recognized the need to change the perception people have of a museum. Unlike the current approach and the competitors’ marketing styles, the proposed method will include the use of newspapers. Many companies avoid this channel because of its cost, but it is one of the most effective tools due to its mass audience (Mudzanani, 2017). Besides, the marketing team will use social media for its ability to reach a wide market. Currently, the business uses conventional media, including TV and radio, but needs to embrace the power of social media platforms. The marketers will also use public relations and the resultant publicity to create awareness and build a reputation for the new museum.
Attack and Defense Strategy
The business should use competitive strategies to maintain its position in the market. Specifically, it should consider the factors that create a competitive advantage. Springfield Art Museum’s main competitors are J. Paul Getty Museum and the Smithsonian Institution. As an offensive strategy, the management will use research and development to create additional services and invest in technology to remain competitive in the market. As a defensive strategy, it will also use marketing to retain customers that can be “attracted” by competitors. The museum’s management will also use massive capital to take advantage of the 4ps. Particularly, they will create competitive products and services to attract customers, place them strategically to attract and retain valuable customers, use free entry into the museum, and promote their new products and services effectively through diverse channels. The leadership will be aggressive across the supply chain to beat the high competition in the art museum industry. The marketing and innovation departments should also continue to invent new strategies to achieve a competitive advantage.
Summary/Conclusion
Springfield Art Museum targets people in the city and others around the country interested to learn about the Missouri cultural heritage. The management focuses on continuous development to continue serving a more extensive consumer base. The proposal is active and will support the business to be more competitive. The company has sufficient capital, which will allow them to add new offerings and even innovate. The capital-base will be critical to funding the proposed changes without having to seek external funding. The resources will allow the organization to increase innovative products and services to survive the competition and increase its revenue, ultimately adding value to the people of Missouri.
References
Colbert, F. (2014). The arts sector: A marketing definition. Psychology & Marketing, 31(8), 563-565. doi:10.1002/mar
Connett, B. (2004). The integrated marketing communication mix. Landsdowne: Juta
Mudzanani, T. E. (2017). The four ‘C’s of museum marketing: Proposing marketing mix guidelines for museums. Afr. J. Hosp. Tour. Leis, 6, 1-12. Retrieved from https://www.semanticscholar.org/paper/The-four-%E2%80%98-C-%E2%80%99-s-of-museum-marketing-%3A-proposing-Mudzanani/b4a9e2fe7434712e584101763f470e2c8080c3c2
Strategic Plan. (2014). Springfield Art Museum Strategic Plan 2014–2019. Retrieved from https://www.sgfmuseum.org/DocumentCenter/View/120/Springfield-Art-Museum- Strategic-Plan-2014—2019?bidId
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