Week 1

Question 1

STEP stands for:

Answer 1

Socio-cultural
Technical
Economical
Political

Question 2

SWOT stands for:

Answer 2

Strengths
Weaknesses
Opportunities
Threats

Question 3

From SWOT analysis to USP, what to do with the strengths, weaknesses etc.

Answer 3

Strengths/opportunities: how can we use (strength) to meet (opportunity)? - scoring

Strengths/threats: how can we use (strength) to avoid (threat)? - Defensing

Weakness/opportunity: how can we enforce (weakness) to avoid (threat)? - crisis

Question 4

What is an USP?

Answer 4

An unique selling point. It is made by a profile strategy. Precise knowledge of consumer’s preferences. A realistic proposition which contains a exact description of the product and is clearly communicated. There are clear limitations towards competition.

Question 5

Name the steps from analysis to operationalisation:

Answer 5

Analysis (segmenting -> targeting -> positioning)
Finding appropriate marketing instruments
Marketing plan
Operationalisation
Controlling

Question 6

The difference between art marketing and regular marketing;

Answer 6

In regular marketing, the market dictates the product (by consumer demand). In arts marketing the products are supply driven.

Question 7

Similarities between art and regular marketing:

Answer 7

• both need to balance organization and consumer needs.
• both need to take into account a wide range of stakeholders alongside the immediate customer.
• both are focused on maintain and creating a long term relationship of mutual value.

Question 8

Transition based marketing:

Answer 8

Turning single buyer into regular patron.

Question 9

A difficulty in analyzing the art world:

Answer 9

The diversity within the arts.

Question 10

Justification of arts funding:

Answer 10

• ensure excellence
• regeneration
• protect innovation
• access

Question 11

Resistance towards art marketing:

Answer 11

• marketing is seen as an unethical and exploitive process serving materialistic ends.
• non profit marketing is a waste of money.

Question 12

Lowest common denominator approach:

Answer 12

Promoting only that which the market place demands rather than seeking to develop new tastes or raise standards.

Question 13

Pecularities of arts marketing (10)

Answer 13

• Nobody knows
• Impossibility of pre-testing
• Mainly supply driven
• Marketing of emotions
• experience goods
• Perishability
• non-profit
• Baumol’s cost disease
• Excellence vs access
• Media sensibility