Friday Night Live Analysis

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Over the past two seasons, Friday Night Live (FNL), an after-hours weekly social event that showcased the museum in a distinctive and alternative way, had led to a startling amount of success for the Royal Ontario Museum (ROM). However, to ensure the museum’s notability for their efforts, it is necessary for these events to continually progress and transform in order to meet the ROM’s performance objectives for the year of 2015. As the assistant vice-president of programs, events and commercial services at the ROM, Carrie Martin needs to maximize revenues and profits as well as attract a minimum of 3,500 visitors for FNL’s grand opening on October 9, 2015. Since Martin handles the strategic direction of FNL, she should focus on how to sustain …show more content…

They successfully provide their visitors with an entire art experience, but unlike the ROM, they offered discounted prices if purchases were made in advanced. This is a great strategy to ensure people will take the initiative to book so far in advance and make it a priority since they would have to plan it out. While the ROM has the competitive advantage over other competitors of being one of the largest museums in North America, the AGO neutralizes this, being one of North America’s largest art museums. Ripley’s Aquarium of Canada, while being one of the cities newest tourist attractions, also is a direct competitor for the ROM since they as well hold late Friday night events that invites visitors from the age of 6 and older, allowing them to profit more from a larger amount of customers. This is understandable because Ripley’s interior design is built to appeal to children. However, FNL have a competitive advantage over Ripley’s due to the consecutive Friday nights that the ROM will be hosting these events, while the aquarium only hosts once a month. The Ontario Science Centre and the Toronto Entertainment District are both considered indirect competitor since the Science Centre is not located in the same region as the ROM and the Toronto Entertainment District, while is still within …show more content…

The ROM is already quite a touristy location and to have the option for these travelers to do something in the evenings that provides a fun and engaging encounter with history and art will only want them to come back to try it again, possibly with other traveling companions. If this was Martin’s target market, she should focus on the overnight travelers who probably booked a hotel room located in downtown Toronto, near the ROM therefore the event easily accessible. As FNL’s largest customer group, young working professionals are residents of the downtown area and enjoy their Friday nights as an opportunity to attend events such as FNL. Since this is a constantly changing group where people cycle in and out so social FNL would be an entirely new experience for them, proving to be a promising target market. College or university students who are price-sensitive consumers as well as prefer a Friday night in the clubbing district do not have the potential to be a promising target market, as well as older adults. While they are more likely to spend more money per outing, having the responsibility of a family and/or a career would be their main priority resulting to a relaxing, Friday night in to prepare for the work that probably has to be done over the

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