Business Proposal- Performing Arts Center

Business Proposal- Performing Arts Center

Marketing Mix

According to Raewf et al. (2021), the main elements of a marketing mix are product, people, price, promotion, place, process, and physical evidence. The performing arts center will apply the elements as discussed below.

Product

The business will focus on providing a wide range of products, mainly paintings, short drama performances, crafts, music and sculptures. The art center will also be providing classes to educate people on different cultures.

Price

Price will vary based on the product a client is interested in. For instance, those interested in cultural awareness classes will pay a monthly fee of $50.The price range for the paintings, sculptures, and crafts will range between $10 to $100.Short drama performances and music will be charged between $5 and $10.

Promotion

The primary promotion strategy will be social media marketing. We will promote our products through flyers that will be distributed in learning institutions and libraries. Another promotion strategy will be television advertisements. The advertisements will include short videos describing what the art center will be offering.

Place

The art center will be located on the lower side of town. The location is ideal because there is ample parking hence creating convenience for people visiting the center.

People

The business will target university, college, and high school students, tourists, and community members of all ages.

Process

Short dramas and music performances will be held twice a week. Paintings, sculptures and crafts will be displayed in the culture center and on social media platforms. Monthly exhibitions will be held where artists will be allowed to display and sell their art, sculptures and craft.

Physical evidence

Customers will be given receipts for any product purchased in the culture center. Tickets will also be issued for the short dramas and music performances.

Target Market/Segmentation

The target market will include students, tourists, and community members around the culture center. The students’ segment will consist of university, college and university students. The tourist segment will include local and international tourists with an interest in learning about different cultures.

Positioning

Globalization has increased diversity in most communities due to immigration as people move from their home country to look for opportunities in other countries. This has led to the rise of diverse communities (McKiernan, 2008). Peaceful coexistence in diverse communities requires understanding the cultures of the people in the community to avoid conflicts that may arise due to cultural misunderstandings. Therefore, the culture center will create cultural awareness by educating people on different cultures and the basics required to coexist with people from various cultures peacefully. The culture center will also inform people of important cultural practices, ceremonies, and beliefs that define people’s behaviors and attitudes.

Services

The business will offer a variety of unique paintings, cultures and crafts at affordable prices. We will also include training on different cultures, including indigenous communities’ cultures that many people may not recognize. We will include a special package for students, including summer programs where students can be taught about various cultures and visit the people from those cultures to understand the culture better.

Branding

We will use the company name branding strategy. We will distinguish ourselves from competitors by identifying ourselves as the only cultural center offering a wide range of products and allowing artists to showcase their art for free. The main adjectives that the business will emphasize are authentic and unique. The adjectives will be marketed by including them in the description of the products offered by the culture center. For instance, paintings will be marketed as unique and authentic art designed to add beauty and pass a message.

References

McKiernan, D. W. (2008). Globalization, mobility, and community. Cinema and Community, 140-166. https://doi.org/10.1057/9780230582804_7

Raewf, M. B., Thabit, T. H., & Jasim, Y. A. (2021). The relationship between the elements of the marketing mix and consumer behavior during environmental uncertainty: Cihan University-Erbil Journal of Humanities and Social Sciences, 5(1), 50-55. https://doi.org/10.24086/cuejhss.v5n1y2021.pp50-55

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2-3 pages New Business Proposal Sections: Please explain each point with specifics and details. Imagine investors determining support for this new business (Performing Arts Center) based on this document.
A) Marketing Mix

i) Describe the marketing mix (7 P’s) of the existing business you attended.
ii) Propose new ideas to each of the 7 P’s for your new business idea. Explain with concrete examples.
B) Target Market/Segmentation
i) Describe the targeted market of the existing business you attended. Be specific with 3-5 segments.
ii) Propose a new target market for your new business idea.
C) Positioning
i) Explain the problem/need the business you attended is addressing.
ii) Propose the problem/need your new business will solve.
D) Services
i) Propose how your new business will better satisfy consumers’ needs.
E) Branding
i) Describe how the business you attended identifies and differentiates from competition
ii) Propose the branding strategy of your new business
iii) Name 2 adjectives your new business will emphasize. How will these adjectives be marketed?