Slept analysis
A slept analysis is an internal influence in a business.
Social- The change in lifestyles, for example more people concerned about their physical self and people having games consoles. Other changes in lifestyles could be using the Internet and eating out. Also the pressure groups in the local community e.g. the cleanliness of the museum and an improvement in the service of the museum. A further point would be the competition surrounding the museum, like cinemas, swimming pools and bowling.
Legal- Legal influences could be if the museum is complying with laws like employment law. This would mean if the staff at the museum are being treated fairly and equally. Other laws which can be link in with the employment law are: sex discrimination act; males and females should be given the same opportunities in the same job and the disabled at work act; disabled people should have the same chance to work for a business as a person who is not disabled. Legal could often involve trade unions; if a business is treating and providing the staff to an efficient standard, e.g. maternity leave, or legal action will be taken against the business. A further point is the consumer protection law; the museum can’t give away any personal details to 3rd parties. The office of fare trading; if the products promoted by a business aren’t what they claim to be.
Economic
VAT can affect the museum, so if VAT is added to prices the consumers will have to pay higher prices for the products. Excise duties will affect a business through what profit it makes and the prices of their products. Excise duties are taxes charged on products produced in the country. Corporation tax is a tax on a company’s profits- if they are limited companies. Also the latest economic climate (the credit crunch) could mean low profits due to the lack of money people have to spend this means the museum might not be able to pay for labour or there electrical bills, possibly meaning it has to close down of the company.
Political
A political influence could be British Standards (BSI), BSI is the UK’s National Standards body, and was the world’s first standards. BSI certifies products and provides product testing services. This could affect the museum by being recognised as selling and providing efficient products and services, if consumers recognise the museum as being to these standards, this will encourage them to go and visit the museum.
Technological
Technology could affect the museum through if it can keep up with the advancements in technology, e.g. promotional methods on the internet, booking on the internet and efficient cash registers- so they can maximise their profits and have awareness to consumers.
The task I have been set is important because if Preston Hall Museum does not make enough money to make significant profits, how will the museum be able to pay labour wages, electrical and gas bills, and be able to benefit from having the museum open. If they can increase visitor numbers, this would mean that these problems would not affect the museum.
The tasks I have been set are to provide a brief introduction- what are the external influences that affect the hall, to carry out a SLEPT analysis, the target marketing of the Hall: to find out who is Preston Hall Museum’s target market and how to increase their target market. A further task I have been set is the current marketing mix- to give details on the museum’s product, place, price and promotion. Other tasks are market research- such as questionnaires, displaying my data clearly and to produce and give an overall marketing plan to try to increase the numbers at the museum.
I am going to solve this problem by going through the questionnaires- to see how much consumers know about the museum (through advertising campaigns), how do they feel about the products on offer and are the prices right. Additionally, the consumers could give details on how to improve the museum’s 4ps. I will also try to solve this problem by putting the 4ps into a SWOT analysis, to see how well the museum is doing overall.
Task 2
Target marketing is specifically aiming a product at a certain market segment, to try to achieve the highest possible profits at the right target market.
The ways a market can be segmented are age, gender, behaviour (e.g. sports and hobbies), style, income and activities.
The market segments that the museum is currently targeting is behaviour- such as students and children in education- such as history from the 1880s to the 1960s. Through behaviour, it also targets people who are interested in arts and heritage, people who interested in plants (Victorian Conservatory) and people who come for days out, such as elderly couples and families. It targets a range of socio-economic groupings, for example, if the lower classes wanted to come to the museum they do deals for families and bus companies such as Arriva/Stagecoach offer special trips. For the middle and upper classes who have more income they offer season tickets, weddings and co-operative events. It targets both genders, as it is not specifically for one gender. As it offers co-operative events- it can attract the activities segment.
The museum offers educational visits, which is successful with students and children as it would fit in with their curriculum. For adults and the elderly it offers weddings and hiring. As it targets many markets segments, such as age, gender, behaviour and activities, it appears that they have a large target market.
The current visitors to the museum are children and students, people interested in arts and heritage, families, elderly and people interested in days out to the museum.
Services that the museum offers that fit the needs of children and pupils are tours and guides round the museum and information from the museum that helps them with their school work and fits in with the national curriculum. Also, weddings, hiring's, co-operative events and exhibitions help meet the needs of people coming to visit the museum for a day out. The products that the museum offer are the miniature railway and river below the museum- this could be for children, adults and children wanting a day out, these products would meet their needs to keep families and children entertained. The Victorian conservatory- for people interested in the Arts- for drawing and plants. Furthermore, the toys and souvenirs available in the shop could keep children entertained- a social reason.
They have modified their main product- the museum by providing certain exhibitions and displays at different times in the year- to make sure that consumers visiting the museum do not get bored with the same attractions. Also, the different displays and exhibitions could fit in with what students and children are learning all year round, not just one certain topic. The museum also offers family fun days that involve all of the family, not just for children.
The museum does not attract teenagers or young couples, possibly for social reasons. And it does not appear to target these markets, only on special events like family fun days out.