TO: Randall Brent III, McNeil Museum of Art Director
FROM: Alejandro Linares
RE: 2005 Marketing Plan
After a careful analytical review of the McNeil Museum of Art current economic situation, I am submitting the following recommendations regarding your operations for the year 2005. I recommend you to simultaneously start a reduction in personnel and administration cost, implement a modest admission fee, increase advertising and promotion effort, and
The MMA is a not-for-profit corporation located in a large metropolitan area. The purpose of the museum is to provide an inviting setting for the appreciation of art in its historical and cultural contexts for ...view middle of the document...
In order to help MMA improve their financial status, I am recommending implementing a modest admission fee of $1 per adult (with no charge for children under 12 years old). Also, start implementing membership fees at $25 annually to instituting students ages 13 to 22 and senior citizen age 60 and above. The current membership fees are six categories ranging from $50 to $5000 per year for personal membership and four categories for corporate membership from $1000 to $10,000 per year. These six categories can be seen as too expensive for instituting students and senior citizens who might not have a good source of income but appreciate the benefits provided by the museum.
Advertising and Promotion. In order to help MMA to attract more visitors gain more income, I recommend increasing advertising and promotion effort to highly promote MMA. Since MMA had only been promoting special exhibitions and events, it is a need to rise up the institutional advertising. The benefits given to members also need to be enhanced. For example, discounts given at the Skyline Buffet and gift shop can be raise up to 20 percent.
Alternatives, Risks, and Assumptions
I belief that sufficient exposal can increase and capture attention of the public. The size of exposal induces the volume of visitors. Besides that, promotion will increase the participation rate of public. Promotion will drive public’s interest and loyalty to the museum. To conclude, all these recommendations will give us a new Net Income of $185,346. Appendix
Next Steps: Set a date for implementation and begin contacting with your...