Marketing Plan
Essay Preview: Marketing Plan
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Table of Contents
1.0 Executive Summary 3
2.0 Situation Analysis 3
2.1 Overview 3
2.2 Current Market Situation 4
2.3 SWOT analysis 5
2.3.1 Strengths 5
2.3.2 Weaknesses 6
2.3.3 Opportunities 7
2.3.4 Threats 7
2.3.5 Keys to success 8
3.0 Objectives 8
4.0 Marketing Strategy 9
4.1 Overview 9
4.2 Mission 9
4.3 Target segment 9
4.4 Positioning 10
4.5 Communication Program 10
5.0 Action Program 11
6.0 Expenses Forecast 12
7.0 Implementation Controls 13
1.0 Executive Summary
The consortium of Memphis community theatres including Germantown Community Theatre, Theatre Memphis, Playhouse on the Square, Circuit, TheatreWorks, Harrell, and Arlington Arts Group provide immeasurable value in increasing cultural quality of life in the community. By working together with a strategic marketing plan they can increase the audiences from 60% to 75% of capacity, while building strong support for the years to come.
Memphis corporate leaders support the arts, including the community theatres, to ensure that Memphis is a place the best and the brightest will come to work and live. Young professionals are the audiences of today and the board members and supporters of tomorrow.
We determined to target the young professionals with needs of networking in the artistic world in the greater Memphis area. Our intention is to direct a greater share of the Memphis professionals’ entertainment dollars and time towards community theatre.
To fit the needs and wants of our target audiences, the theatres have to position and project themselves at a unique level compared to other commercial forms of live entertainment. Community theatre cannot compete if all it offers to its audience is the stage. A theatre experience has to be much more than watching a play. We need to combine the theatre ambience, audience, actors and directors to create a unique mix of a “cultured” event. For this revival and recast, Memphis community theatres, as a consortium, need to play a vital role in offering a high value for audiences in enjoyment, culture, and bonding to the community.
We plan to use young professional groups like MPACT as channels to communicate the novel concept of “Theatre Experience” through presentation and distribution of CDs, flyers with opinion leaders endorsing their experience.
2.0 Situation Analysis
2.1 Overview
Community theatres throughout the Memphis/Shelby county area, from Midtown to Collierville, produce a variety of plays throughout the season. Members make up about 60% of the audiences, who have high level of education and value arts. Theatres compete in the leisure/entertainment industry, with Orpheum Theatre, movie theatres and sports events. Opportunity and issue analysis is followed the current market situation.
2.2 Current Market Situation
True to their name, community theatres in the Memphis area cater to the needs of their immediate communities. An interesting aspect is the high opinion of the theatres their respective audiences have, in spite of the fact that they vary a lot in physical and psychological ambience and the plays they stage. Thus we have both audiences and theatres supporting each other while consuming very diverse offering. Very often the community theatres are imbibed with the characteristics of the community they live in. Community theatres throughout the Memphis area, from Midtown to Collierville, produce a variety of plays throughout the season. It is an amazing blend of artistic expressions that reflect the cultural dynamics of the citys heritage. Some are family oriented and some are for a more mature audience.
The memberships make up about 60% of the total attendance. Those that value the arts are typically people with a high level of education, a background in exposure to the arts, and/or an education in the arts.
The theatres cover some of Memphis Metropolitan Statistical Area (MSA).With a population of 1.2 million, Memphis MSA includes 8 counties touching three states, which is showed in the Exhibit. Population in the Memphis MSA is project to grow 3.6% in the next 5 years.
The direct competition comes from Orpheum Theatre, which is an upscale and for-profit theatre whose ticket prices are sometimes twice as expensive. Movie theatres, sporting events and other arts activities also intensely compete with community theatres.
Theatre communication group survey result indicates that overall attendance rose 4.2% from 1999 to 2003 country wise. Memphis economy in the first eight months was particularly strong in the Professional and Business Services sector and the Leisure & Hospitality sector. Hino Motors (major supplier to Toyota) broke ground recently on its new auto parts plant in Marion, Arkansas. The location of Hino near Memphis could result in economic benefits in the Memphis area.
With the positive trend of approximately one-third of adults attending live performances in the arts each year , we would expect Memphis community theatres will experience growth.
2.3 SWOT analysis
Based on the SWOT analysis, we will use the strategy that use strengths to take advantage of opportunities, minimize weakness and avoid threats, to enhance the cultured value of the theatres by offering quality plays.
2.3.1 Strengths
Community theatres have excellent awareness, as most of Memphians knew the theatres are out there. The perceived value of theatrical arts by well educated people is actually commercial. Richard Florida in his book, The Rise of the Creative Class, stated “a rich arts and culture scene is essential for luring the country’s most educate professionals who need high-end cultural stimulation. Businesses follow the talent.” Memphis has a significant number of community theatres, spread all