Music of Fine Arts Boston Case Solution And Analysis, HBR Case Study Solution & Analysis of Harvard Case Studies

Music of Fine Arts Boston Case Solution

Introduction

The Museum of Fine Arts in Boston was founded in 1870, and it had been serving the New England for work of visual arts. The museum was a great success in its early period, as the management was able to collect over 400,000 of art works and important pieces of history, which were collected from a range of traditional mediums of galleries and design schools.The main reason for success of the museum can be the special exhibitions, which were regularly conducted in one of the three of the museum’s facilities.

During the past few years, the museum was able to achieve considerable attendance on its special exhibitions, and these attendances patterns were appreciated by many analyst and museum lovers and the board of trustees. However,the critics of the museums believed that the museum’s management had turned the arts museum into a profit making business and should work to promote the works of arts by greats and not just exhibit fancy equipment to increase revenues of the museum.

The current management of the museum was led by Malcom Rogers who was the Managing Director of the museum. He was much successful in taking the museum to new levels, as he created a three part strategy to achieve the mission of the museum, which included making museum one and unified while adding new master pieces to the current collection to remain attractive to attendees and make the museum a great place for arts lovers and provide education for arts.

The Museum of Fine Arts consists of several businesses, which allows the museum to survive mainly on private earning and donations instead of other museums which are basically run by government grants.The MFS is a school where they teach students regarding history and other artistic knowledge. Moreover, the museum also performs publishing services, retailing and has restaurants available at the museum.

Problem Statement

This Museum is facing difficulties due to falling trend in attendance globally due to lack of interest in arts, this has resulted in falling revenue for the Museum. The management of the museum are concerned about the long term survival of the museum and have come up with a strategy to establish a new wing in the museum that will attract people and increase attendance at the museum.

The management is also concerned about the long term future of arts in the world as a long fall can result in loss of considerable wealth in arts. They were focused on the overall decline in the attendance all over the country therefore; there was a need to create a strategy that would allow the growth of the museum. Moreover,another concern for the management was to assess whether the addition of a new wing will provide for success in the museum.

Market Segmentation

Before providing any recommendations, we need to identify the target market for the museum and assess their requirements, needs and attitudes to form a strategy through which the museum can achieve its former glory. Based on the market research performed by the management, the market has been divided into following segments;

Geographical Segmentation

Residents of Boston

These people usually prefer other means of leisure as they might have visited the museum in the past and therefore are not much attracted to the museum.MUSIC Case Solution

Visitors to the Boston City

These were the people who come to visit Boston, and these people were highly attracted to visit the museum as it wasthe cultural center of the city and a great means of learning the history of the country.

Demo graphical Segmentation

Adults

The adults were the biggest segments who visited the museum and paid for it, therefore the management performed major activities to attract this segment of market.......................

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