Tuesday, March 12, 2019

The Marketing of Art

The Marketing of graphics P finesse 1 Target Market and Competition When determining a heading merchandise a market placeer must first look for their product and the consumers who leverage the product, then decide what type of consumer would the marketer opt to attract to the product they are selling (Guille, n. d. ). The product that was chosen for this degree was fine art. To determine our p guileicular stigma market we must get to get our product. Britannica Encyclopedia defines creative personic creationistry as, the use of skill and imagination in the first appearance of aesthetic objects, environments, or experiences that basin be shared with others (Britannica Online, 2011).Choosing a score market in which to promote our product is quite a rough task since wile is not a commodity that is norm in ally regulated. Although the demographics of individuals who bargain for art are categorized into five types Collector this type buys art simply for the contend of the piece that is purchased. Investor this type buys art in hopes of earning a profit. Decorator this type uses art as a way to get and empty space. Believer this individual believes that the particular piece that is purchased has a fundamental meaning or story attached to it and buys art just for the love of art. Money burner this type is an individual who buys art for a status symbolization or because they can afford to do so. To find our target market we will digest the framework of art. Art is usually placed in a particular space for a long period of sentence and the purchaser will intimately likely own the home that the fine art is located in (Genn, 2004). Art is not a cheap investment, in 2009 while the Lehman Brothers was declaring bankruptcy, Sothebys made $200 jillion in London at an art auction, so our target market would obtain to be able to afford the pieces.Also to determine your target market a marketer needs to understand why a consumer purchases products or services. A consumer purchases a product or service for iii main reasons to satisfy a need, to solve a problem, or to bear themselves feel good. The marketer must know the demographics of their area. In Tucson, Arizona the largest art purchasers are over the age of 50, the demographics of Tucson orient that the 50+ populations makes up 22. 1% of the total population. Americans over the age of 50 own more homes and esteem more then $900 billion in income as compared to the younger populations (U. S. nose count Bureau, 2011). According to Business Week Magazine the 50+ generation or more likely to buy online products and 42% over the age of 65 have made online purchases. The senior generation is the most overlooked target market in the advertising sector, even though 41% of them purchase more products then any other target market course of study (Kaiser, n. d. ). The next step in market is to identify your competitors, and shortly there are nine top art houses that operate o nline as well as international (ArtBusiness. com, n. d. ). Sothebys and Christies are among the most well known in the art domain.The main advantage that these art houses have over James Art saleroom is the name. People neck and trust these dealers since they have been in art for a long conviction and have a great reputation. Christies is still a privately owned alliance and therefore the financial knowledge is unavailable. However, many art brokers have projected that 2011 will be a profitable social class for the auction house. Sothebys is a publicly traded company and their financial information is available on their sack upsite for potential investors to read.In 2009 Sothebys show revenue of $484,958 and in 2010 of $774,309, this is an increase of 59. 7% (Sothebys, 2011). The expected revenue projections have Sothebys increasing the profit margin by at least 32. 7% in 2011 end of the year calculations. For James Art salesroom to exceed the consumer expectations, the co mpany due to the fact that it is smaller it will be able to provide a more personal art get experience as well as provide a contingency for upcoming artist to acquire a name for himself or herself inside the Art world.Part 2 Integrated Marketing Communication invention The integrated marketing communication proposal is a combination of all the companys plans and goals combined into one format. The integrated marketing communications plan should contain the comparable theme throughout, such as if the business plans on producing an advertising theme then the theme should be the same for the website and any print advertisements. This is done as a way for your customers to data link all the graphics and messages to the company in which you are marketing (ArtBusiness, n. . ). in that respect are five study components in an integrated marketing communications plan Web site Advertising Marketing collateral Online marketing Trade shows/ Auctions The web site that was created for the promotion of James Art Showroom was simple but professional. It included contact information and links to Facebook and Twitter. The web site also gave information about the company and the reason the company was created. For advertising, the company would choose direct mailings to schools that are designated for artists.The company would also innkeeper regular fundraising events to introduce the local community to the artist that reside in the area. The company was started as a way to help unknown artist and art buyers connect, the company although hopes to earn a profit in the next was not started as a money generating business but solely as a vessel to help people who love creating art meet those who love purchasing and owning art. The message that the company would like to beseech is a symbol of bringing individuals with common interest together.The online marketing plan is simply to get the message to the target market that the company exists. This can be done through the us e of social media and e-mail list. The concluding step in creating an integrated marketing communication plan is to leave behind my customers a chance to participate in art auctions throughout the world by using my website as a connection. By working with the major auction houses, such as Sothebys my artist may be able to have some of their work viewed or even purchased by art dealers on the international level.Reference ArtBusiness. com. (n. d. ). Domestic and International Art Market Sales Statistics. Retrieved on November 6, 2011, from http//www. artbusiness. com/marketdata. html Britannica Online. (2011). Retrieved on October 4, 2011, from http//www. britannica. com Genn, Robert. (2004). Art Buyers. Retrieved on October 23, 2011, from http//www. painterskeys. com/clickbacks/art-buyers. asp Guille, Marilyn. (n. d. ). How To Find And Sell To Your Target Market. Retrieved on October 23, 2011, from http//sbinfocanada. bout. com/cs/marketing/a/targetmarket. htm Kaiser, Frank. (n. d . ). Secrets Of Successfully Advertising To Seniors. Retrieved on October 23, 2011, from http//www. suddenlysenior. com/howtoadvertiseseniors. html Sothebys. (2011). Web site. Retrieved on November 6, 2011, from http//investor. shareholder. com/bid/index. cfm U. S. Census Bureau. (2011). Home page. Retrieved on November 6, 2011, from http//factfinder2. census. gov/faces/nav/jsf/pages/searchresults. xhtml

No comments:

Post a Comment

Note: Only a member of this blog may post a comment.