November 13, 2006
1.0PROBLEM STATEMENT AND OBJECTIVES
Now that the newly formed New York City Marketing Development Corporation (NYC Marketing) has been able to generate positive revenues by marketing New York City (NYC) as a brand, the organization is concerned with how the funds can be best used to "do what is right" for the City. In addition, several growth opportunities have been presented and management is faced with determining how the firm should proceed to meet end objectives. The goals of NYC Marketing are to: Generate alternative means of revenue for New York City;
Support City agencies and important City initiatives; and Promote New York City around the world to grow jobs and tourism. By achieving the above listed goals, life in the City will be enhanced at no cost to the taxpayers. 2.0SITUATION ANALYSIS The following sections summarize the current situational analysis for NYC Marketing focusing on the environment in which the organization is operating, the industry in which it operates, an organizational analysis, and a market strategy analysis. 2.1The Environment NYC is one of the best-known cities in the world and offers opportunity and diversity to all whom choose to visit or reside. NYC is comprised of five boroughs (Brooklyn, the Bronx, Manhattan, Queens, and Staten Island), any of which would be considered a small city based on density and population. Because of this population density, advertisers are keen to spend money to gain so much potential exposure. There is also a wide range of ethnicities and cultures represented by the people of the City; therefore, there is "something for everybody." The city itself is the seventh largest economy in the world and in a survey of 2,400 global brands, NYC ranked 13th. After the events of 9/11, the City became a very patriotic symbol for all Americans. In addition, various City agencies such as the New York Police Department (NYPD) and Fire Department (FDNY) gained brand recognition after 9/11 due to the feelings of support and pride these agencies evoked. However, not all perceptions of NYC are positive. Many view the city as being expensive, not only as a tourist location, but also to due business in (although there are more Fortune 500 companies in New York than in any other city). Another negative perception is that New York is rampant with crime and the city is not safe for those who visit or live there. 2.2The Industry In order to analyze the industry in which NYC Marketing operates, a look at existing competitors, potential new competitors, threats of substitute products, buyers, and suppliers is required. 2.2.1.Competitors The city marketing industry is limited; however, research pointed to several cities that have set up marketing departments similar to NYC. The following cities have marketing campaigns that could be considered competition for NYC. Basel, Switzerland In 2000, Basel set up a City Marketing department. The marketing department's goal is an integrated approach in thought and action based consistently on the needs of the city's main groups. The City Marketing focuses on the three areas of communication/PR, residential promotion and event services. The department has initiated an image and marketing campaign by creating brand Basel. 2.3The Organization NYC Marketing was created by Mayor Bloomberg to use NYC's brand to generate revenue. The support the Mayor offers the organization comes from the highest levels and aids building brand equity. In addition to NYC Marketing, the NYC government is made up of several departments devoted to marketing and tourism including: NYC & Company NYC's official tourism marketing organization dedicated to building NYC's economy and positive image through tourism and convention development, major events, and the marketing of the city on a worldwide basis; NYC Big Events NYC's official organization dedicated to bringing large scale, high profile...