Essay About 20151.Which Target Market And Aquarium Of Canadasecond Friday Of Each Month7-11

Rom Friday Night Case
Market Challenge:Maximize revenues and profits attract at least 3,500 visitors (capacity of 5,000)Time for the FNL: Oct 9, 20151.Which target market should the event focus on?2.Revisions to the price, promotion and productInternal Analysis:1.Finance+no income tax51% from government grants17% from ancillary operations15% from admissions fees$15,000 budget for promotion-65%cost from the event’s gross profit2.Marketing+Well-known museum, with one million visitors annually3.Operational capacity of 5,000 people for FNL4.Human Resources:n/aExternal Analysis:1.Political-2% cut in operating grants to art and cultural institutions2.Economic:n/a3.Socialinternational city, culture diversity4.Technology:n/aCompetitors informationTime for the eventPriceTarget groupAdvantage &disadvantageRoyal Ontario MuseumFriday, 7-12$12 for adults$10 for students$6 for drinkstypically 19-34+hold every friday for the season session+centre area+close to U of TArt Gallery of OntarioFirst Thursday of every month$13 for AGO members$15 for non-membersFeatured exhibit cost an additional $10 for non-membersover 19+one of largest art museum+centre area-did not compete with the date of usRipley’s Aquarium of CanadaSecond Friday of each month7-11$25 for adults $15 for youthworking population+downtown TorotoThe Ontario Science CentreFree Friday night for teenagersSelect Friday 6-9$22 for adults$16 for youthTennagers 13-18-not in the downtown core but attract lots of visitorsThe Toronto Entertainment DistrictMajority of the city’s nightclubs+easily accessible to visitors