Rom Friday Night Case
Autor: lqi29 • January 17, 2016 • Case Study • 736 Words (3 Pages) • 532 Views
- Market Challenge:
- Maximize revenues and profits
- attract at least 3,500 visitors (capacity of 5,000)
- Time for the FNL: Oct 9, 2015
1.Which target market should the event focus on?
2.Revisions to the price, promotion and product
- Internal Analysis:
1.Finance
+no income tax
- 51% from government grants
- 17% from ancillary operations
- 15% from admissions fees
- $15,000 budget for promotion
-65%cost from the event’s gross profit
2.Marketing
+Well-known museum, with one million visitors annually
3.Operational
- capacity of 5,000 people for FNL
4.Human Resources:n/a
- External Analysis:
1.Political
-2% cut in operating grants to art and cultural institutions
2.Economic:n/a
3.Social
- international city, culture diversity
4.Technology:n/a
Competitors information | Time for the event | Price | Target group | Advantage &disadvantage |
Royal Ontario Museum | Friday, 7-12 | $12 for adults $10 for students $6 for drinks | typically 19-34 | +hold every friday for the season session +centre area +close to U of T |
Art Gallery of Ontario | First Thursday of every month | $13 for AGO members $15 for non-members Featured exhibit cost an additional $10 for non-members | over 19 | +one of largest art museum +centre area -did not compete with the date of us |
Ripley’s Aquarium of Canada | Second Friday of each month 7-11 | $25 for adults $15 for youth | working population | +downtown Toroto |
The Ontario Science Centre | Free Friday night for teenagers Select Friday 6-9 | $22 for adults $16 for youth | Tennagers 13-18 | -not in the downtown core but attract lots of visitors |
The Toronto Entertainment District | Majority of the city’s nightclubs | +easily accessible to visitors |
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