Coleman Art Museum Case

Topics: Souvenir, Monopoly, Gift shop Pages: 4 (565 words) Published: December 9, 2013

Coleman Art Museum
I. Summary of Facts
A. Market – education and entertainment
1. Coleman Art Museum (CAM)
a. Not-for-profit corporation
b. Members: 85% college educated, 60% over $70,000 income, 50% over 40 years old, 98% white c. Dependent on contributions/endowments/membership
2. Special Exhibitions
3. Economic market
a. Client – monopolistic competitions
b. Contributor – monopolistic competition with oligopoly overtones B. Product
1. Has over 15,000 works of art in permanent collection
a. Pre-Columbian art
b. African art
c. Pre-Depression art
d. European and American decorative arts
2. Memberships
3. Special Exhibits
4. Private showings/ fundraising
5. Restaurant, gift shops, parking
6. Benefits
a. Client (patron)
1) Core – experience art
2) Education
3) Entertainment
4) Socialization
5) Self-esteem
b. Contributor (government/organization/member)
1) Core - Fulfillment of cultural mandate
2) Success of local social endeavor
3) Altruism
4) Self esteem and prestige
5) Reciprocity
6) Tax savings
7. PLC – maturity
C. Price
1. Public institution - no charge for viewing permanent collection 2. $3.00 to $5.00 charged for special exhibitions
3. 2004 MMAH membership
CategoryNumberRevenueBenefit Cost
a.Regular $50 13,672$639,664$631,016
b.Associate $100 2,596234,87181,903
c.Collector $25036481,41564,135
d.Patron $50010248,10039,135
e.Partner $1,500 604815,66699,567
f.Director’s Club $5,00091406,67315,975
g.Corporate205125,576
4. Elasticity – relatively elastic to relatively inelastic with price clusters D. Promotion
1. Little promotion of unique aspects of CAM’s collection or emphasis on historical context 2. Promotion of special exhibits and activities via press releases and close relationship with local media 3. Educational outreach programs and lending performance space 4. Advertisements for special exhibitions aired on local radio and newspapers 5. Member recruitment/renewals

a....
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