Digital Marketing Presents Opportunities
Digital marketing presents opportunities and challenges to organizations
Secondary information from various sources such as journals, magazines and internet has been used to gather the information; this information has been used to find out the patterns in the market and the dynamics therein.
The secondary research also focuses on the key motivational factors for museum visitors for various segments in consideration, appropriate plans and strategies are suggested to promote the offerings to increase the motivational Incentives drive towards a science museum.
Findings of the report:
The Key findings of the report were:
The primary market segments to be targeted were school students and college going students, target age group was between 3 years to 19 years of age. Michael had to focus on the numbers to generate the revenues for the museum.
Besides the primary segment other segments could also be targeted such as that of senior citizens with enough amount of dispensable income, or families who whish to give their childs more education computer development about science. These two segment has relatively low review motivation to visit a science museum, using appropriate promotion channels these segments could help to increase the revenue.
The museam may reposition itself in the market.
Objectives of the marketing assignment campaign need to be articulated very distinctly due to limited availability of the resources and finances for information researching and planning.
Different strategies need to be used for different segments and the strategies need to be prioritized in terms of finances and time of execution.
Local media channels to be used to promote the museum extensively.
In conclusion, the primary segment shall be holded to keep relationship customers and more segments shall be targeted as the museam is getting a brand new, specially designed building. What’s more, an repositioning may be implemented if possible due to the incoming oppotunity.
The museam shall keep attention and focus more on the original selected segment as school students. If possible a repositioning plan can earn more revenue to keep the museum running. The reason for the repositioning is the primary segment is well positioned and targeted, secondary segments is lack of motivation and can be seen as a less growthing segment. The museam may not be able to keep its exhibitions running with such a high cost building if the museam does not charge more for the tickets.
Marketing digital development is a very challenging task, understanding each element and attribute of a segment and designing products in accordance with that followed by delivering the product to the customer to ensure satisfaction. This task becomes all the more challenging in case of markets which are niche and have limited visibility.
In order to ensure an optimal marketing strategy is implemented for products which have a limited visibility, a clear understanding of the marketing segment and its attributes (such as geographical, demographical, behavioural sectors) need to be understood, then an effective plan needs to be developed which should ensure that strategy targets all the relevant market segments in question.
Market Segments as per Michael:
Michael selected the regions of Wollongong and Illanwara to be considered for the selection geographical division; he then looked for specific age groups with in these regions to be considered for segmentation ,he selected age groups from around 60,000 primary and secondary students, the segregation can be further divided into schools with schools having a area code prefix of 0242,this 62 public primary schools, 15 non-government primary schools, 16 public secondary schools, four non-government secondary schools and four non-government combined primary and secondary schools (101 in total).
The schools in consideration were one day drive from the region, another significant section which was being considered was that of the tourists coming as annual visitors. Around 500,000 tourists visit the region annually. A tourist has been defined as anyone who lives outside the Illanwara region.
Digital Marketing Presents Opportunities
The key segmentation criterion used by Michael were based on the geography and the age group of the target segment population, the attributes used were quiet limited as he could have brought social and economic factors as well to segment the market. Adding these attributes to the market could have given a bigger market segment to target at as these factors can be added to the potential target segments.
As for the final segments considered for targeting ,Michael could have used the other age groups to target, such segments could have been the those of the senior citizens, with a significant dispensable income, this segment could be targeted with appropriate marketing strategy. Using appropriate marketing strategy, one could increase the motivational factors for such segments which are nascent stages of their need identification
Target segments to be chosen:
There are two distinct types of audiences that science museum can target. The first is the set of people who donate; these people generally become members and are more likely to take a significant part in museum activities. This group is small, will generate far more revenue and profits to the museum, It is relatively easier to serve this group than to serve the general public. In fact, museums generally focus only on this audience. The second type of audience is the general public; these people come to the museums to get entertained and to be educated. Most of them will not ever become donors, but they can become major financial benefactors. However, they occasionally become members and often spend money at the museum store.
Potential donors have similar demographics: they are well-educated, high income corporate executives and professionals. In order to market successfully to this group, museum must have to design programs which offer benefits of being involved with science museum. The problem science museums face with respect to this group is their availability and interest. Time availability means that programs need to be developed which are both engaging and meet the key benefits of this group. Interest is also very important as there are many alternatives available to this segment, ranging from various kind cultural activities and social activities.
The other segment is senior citizens who are interested in leisure-time activities and have both disposable income and time. They may have limited understanding of science, but want to be educated about science for themselves and their childs. Moreover, they have the time to enjoy and learn new things about science. At present the museums are not well designed for senior citizens because they require too much walking and have very few amenities (such as bathrooms, benches, and food and beverage shops) which facilitate visits from such segments of the market.
The last segment is an audience that museum need to recognize, these are economically disadvantaged children and lower-income, inner city families. They have limited potential to spend money, but these people represent significant number from society.