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Markets for Visual Arts: Insight into a University Gallery

Essay by   •  March 6, 2019  •  Coursework  •  320 Words (2 Pages)  •  23 Views

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WK4: CH 6 CASE STUDY

Markets for Visual Arts: Insight into a University Gallery

DISCUSSION QUESTIONS:

  1. What are the different methods you would advise the Adam Art Gallery to use in segmenting its market?

Geographic segmentation

  • Visibility of art gallery is poor due to on campus location: beside union building with an unusual architectural design
  • However, it is a 10min walk from the city’s central business district, so convenience for the public

Geodemographic segmentation

  • Combination of geographic, demographic & lifestyle characteristics to classify consumers
  • Tend to have similar experiences to the art culture
  • Suitable as gallery wants to attract more local students, staff and community
  • Can be done on small marketing budget

Behavioural/loyalty segmentation

  • Loyalty initiatives for their frequent/regular visitors
  • Oxigenmedia points out attitude clusters – positive attitude people more likely to attend regularly if provided personalised invitations and opportunities

  1. What are the advantages and disadvantages of making use of an existing industry-specific segmentation study such as that provided by Oxigenmedia?

Advantages

  • Easy & free access to information and statistics about target groups
  • Data is relevant, precise & accurate, because they are compiled by professional institutes or organisations like Oxigenmedia

Disadvantages

  • Oxygenmedia provides data on who the customers are, but data does not help company identify their needs/wants
  • Companies may formulate wrong marketing strategy based on data

  1. Based on the information provided in the case and your own marketing insight, devise 3-4 market segments that you think would be applicable to the Adam Art Gallery. Which would you recommend it target? Consider the variety of targeting strategies.

3 market segments applicable to Adam’s Art Gallery:

  • University staff & students
  • Local community
  • People interested in related areas, such as media, film & environment

 

  1. Choose the target segment you believe would be most worthwhile. How would you recommend the AAG position itself with this target segment?

  1. If your university has an art gallery, pay this gallery a visit and consider how you could be enticed to visit again.

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