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Case Study: Friday Night Live At The Royal Ontario Museum

Decent Essays
EXECUTIVE SUMMARY

Friday Night Live at the Royal Ontario Museum began in 2012. This unique and contemporary event provides patrons with live entertainment, food and drink as they revel in the wonders the museum has to offer. Carrie Martin’s aim is to attract at least 3,500 visitors for the grand opening and maximize profits.
To realize these goals, the following steps will need to be followed.
• Set the target market to older adults (aged 35-64)
• Set the event theme to “Celestial Blast”
• Advertise for two weeks in The Toronto Star
• Feature a mixed drink for the evening
Older adults represent 40% of the population and are the biggest spenders. As it stands, their attendance only makes up 15% of the total guests to attend FNL. An influx
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The $15,000 allocated marketing budget allows for a one week run in the business section, and a one week run in the entertainment section, with $971 remaining. Advertising in newspapers is the best way to reach the older demographic as they are less likely to be involved in social networks.
The “Cosmic Cosmo” is a feature mixed drink to fit the theme of the evening. Given mixed drinks provide the highest unit contribution, they are the sensible drink to promote. Although preparing this drink is slightly more costly than a regular mixed drink, the $971 remaining from the promotion budget can be used to cover the extra costs of the first 582 “Cosmic Cosmos”. Even with extra costs, this beverage is still more profitable than beer and wine.
A $2 increase on admission prices has the potential to increase revenues with a low risk of profit loss. A loss would only occur if the price change were to lose more than 572 visitors. An increase to $14 a ticket will bring in extra profits and still remains below the competitors and the ROM’s regular hours
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This unique and contemporary event provides patrons with live entertainment, food and drink as they revel in the wonders the museum has to offer. Carrie Martin’s aim is to attract at least 3,500 visitors for the grand opening and maximize profits. Corporate capabilities, competitors, and consumers will be examined to develop an effective marketing plan.

CORPORATE CAPABILITIES From a human resources standpoint, FNL currently has a great relationship with its clientele and is rich with performers and entertainers eager to take part in the events. This is demonstrated by the growth of visitors to 25,000 in the last season with additional growth expected. By last year’s numbers alone, 2,800 visitors can be expected, demonstrating the objective is not out of reach (see Exhibit 1). As the venue’s maximum operational capacity is limited 5,000 people, a sellout is plausible, creating a feel of exclusivity, encouraging people to buy their tickets in advance. A sold out event would be a huge success not only in achieving the desired attendance, but also for the future episodes in the
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