BUS 695 Market Analysis Section

 
 

Market Analysis Section Macro-Level, Industry Level and Laban Movement Analyzes Marketing offerings focuses on marketing what Joy’s Creative Arts is offering for their company. Because Joy’s Creative Arts is offering performance dance programs, macro level and industry level analyzes use to help them to resolved business and market problems for advertising the company’s products and services. The secondary sources use to develop a marketing plan on Joy’s Creative Arts’ products, and services are textbooks, reading books, scholarly journal articles and government websites. Reading and textbooks include economics, marketing; market search and market strategies use to develop Joy’s Creative Arts marketing plan. The scholarly journal articles include topics on market research and market strategies also use to develop Joy’s Creative Arts marketing plan to promote this company’s dance programs. Other sources, such as government websites include www.census.gov and www.bls.gov use to research dance industries, financials, news, markets, products and services and demographics. Walker and Mullins, (2011) states, “ Companies should start with trade associations and trade magazines, where companies can track and report trends on industries. Most local, state and federal governments offer demographic data that is easy to access on these websites including www.census.gov in the United States” (p.117). The industries to research are dance companies and studios and entertainment businesses to provide ideas on conduct business and services. Level of Analysis consisted of macro-level and industry level and Laban movement analysis. Macro-level analyzes are the first analysis use in Joy’s Creative Arts marketing plan. Druckman, D. (2003) claim, “that there are different way companies or their strategic approach to negotiation” (p.183). For example, Joy’s Creative Arts can negotiate with the customers and employees about offering dance programs and related services in reasonable costs what matches their financial budgets. Micro Level Analysis refers to social interactions of people and the way people act or interact with other people and things. Walker and Mullins (2011), “Macro trend analysis for any market in both quantitative and qualitative data. Quantitative data must offer evidence in the market’s size and growth rate for market and key segments. As for qualitative data, it needs to have factors to influence these figures on markets and industry analyzes” (p.117-118). Walker and Mullins (2011) indicate, “Assessing market attractiveness requires that important macro-environmental trends or macro trends. The six macro-environment major components are demographic, socio-cultural, economic, regulatory, technological and natural environments” (p.104). Industry Level Analyzes are the second analysis used for Joy’s Creative Arts marketing plan. This analysis allows business owners and individuals to access the business environment. It also provides economic concept in marketplace and gain competitive advantage. Even though these analyzes require special needs, but also required basic standards of their industries. Facts, features, recommendations, timeframes and expert insights are the four components for industry analysis. For instance, it is very important that get the facts on operating dance studios and companies along with dance programs before starting a dance business plan. The elements consist of the number of competitors like Joy’s Creative Arts is focusing on three competitors that offer similar dance programs compare to this company. Other elements also consist of available substitute goods, target market, demographic groups and business information. A good example for substituting goods is contemporary dance substitute ballet, hip-hop, jazz, liturgical, lyrical and modern dance in one dance genre. For target market, Joy’s Creative Arts focus on having studio locations in the USA in different states, age groups 5-11 and 11-19 and 19 to adult. Target market also include families with one or more children, and business information would include Joy’s Creative Arts offer dance programs and related services and events. Features include special offers, package deals and payment plans. It can also include specific elements of economic marketplace. Other features consist of political, economic environment and economic revenue, industry business cycles, which deals with growth and reaching a plateau or decline. For political reviews, it involves government regulation and taxation in business industry. The recommendations are to use the five forces developed by Michael Porter. Walker and Mullins (2011) explained, “The five forces includes risk of entry by potential competitors, current competitors’ powers of buyers, power of suppliers and substitute products and services” (p.112). Some industries with heavy government have few profits for companies operating these environments. These concepts allow individual time used to test management on procedures to generate business analysis like at Joy’s Creative Arts business. Time frames are also very important for companies. Joy’s Creative Arts use time frames on marketing dance programs like at least three months before offering them. This company also has timeframes on completing dance choreographies and preparing for events. Small business may struggles to use industry analysis timely manner except for large and public companies on analysis each quarter. Joy’s Creative Arts has not had the opportunity to use industry analysis because they still continue to establish a company by finding ways to increase customers, sales, growth and revenues. Because of the economic market changes the political policy and other related changes, the company have to consider this research process of establishing this company. Finally, Joy’s Creative Arts decided to get outside help for determining the status of dance industry analysis, network with management consultants, public accounting firms, Small Business Administration and use the amount of resources. The market size of this is 400 customers, which is 80 customers in five locations, such as California, Florida, Georgia, North Carolina and South Carolina. Joy’s Creative Arts is offering ten classes, ten events, six package deals, 15-class cards, 12 graphic design projects. It is also offering seven costumes/souvenirs, 11 refreshments, three video presentations and 59 items in the inventory of the shop page of the business website. There are also two unique performance dance programs like one is for families, and another one is for everyone starting age 5 to adult. There are also two training programs like one for competitions, and the other one are for professional events. Joy’s Creative Arts expected 5-30 in business growth of all activities n this company starting from 2015. Finally, Laban Movement Analysis developed by Rudolf Laban. Davis (1995) discuss, “this analysis consists of methods, languages for describing, visualizing, interpreting and document all varieties of human movement” (p.31). Joy’s Creative Arts will be more successful in their dance programs by demonstrating students dance movements in order for students to understand and perform them in classes and events. Sample Questionnaire for Joy’s Creative Arts 1. How did the customers here about Joy’s Creative Arts? 2. How can Joy’s Creative Arts their products and services? 3. How many hours should customers practice per week? 4. What are best days and times to offer customers dance programs and related services? 5. Should dance programs and related services offer to customers in mornings, afternoons, evenings or nights or all? 6. Should dance programs and related services offer on weekends and weekdays or both? 7. How was Joy’s Creative Arts dance programs and related services today? 8. How was the customer service in this company? 9. Do Joy’s Creative Arts need improvements on dance programs and other services? If yes, please list them. 10. What are your expectations in attending Joy’s Creative Arts dance programs? 11. What are the goals to achieve in this company and daily life? 12. What opportunities that a customer is interested in this company? 13. Do the customers have dance experience? If yes, how long? 14. Do the customers have performance experience? If yes, how long? The critical success factors for dance are aligned strategy with performances, optimize performance empower people, a common goal, attracting and developing top talents and poised execution in dance programs and opportunities. Joy’s Creative Arts’ competitive response will depend on the type of action, reputation of a competitor to taking action, competitor’s dependence market and competitor resources availability for dance programs and related services. Finally for the market share is to maintain potential growth, which decline in 2008 due to the bad economy, even if they have to be aware of the competition offer similar dance programs and related services. Research Design Research design determines best research studies to conduct for Joy’s Creative Arts marketing plan. Research background of Joy’s Creative Arts consisted researchers to help promote the business’ dance programs and customers’ wants and need in dance programs. This research also involved ways for this business can be unique on all activities as much as possible. Research problem is to determine ways to market Joy’s Creative Arts in order to increase customer’s awareness of the company’s dance programs, increase growth, locations and sales. The research questions are what are effective strategies to market Joy’s Creative Arts that will increase growth, locations and sales? The answer this question here are the objectives that will answer this question. The research objectives are the list the problems and cause of Joy’s Creative Arts not growing a business, locations and making sales and develop strategies that work for this company. Other objectives include using different researches to conduct for marketing this company and develop solutions to solve these business and marketing problems of Joy’s Creative Arts business. The research methods use included descriptive, consumer research, market research, audience research, movement research, visualization, quantitative research and quantitative research. Other research methods include projective techniques, auto-ethnography and ethnography. Joy’s Creative Arts must use descriptive research for designing questionnaires/surveys on feedback on dance programs, review case studies on dance programs and interviews on dance programs. This company will conduct consumer research by researching their target audience for dance programs for their company. Joy’s Creative Arts use market research to research trends, classes, events, programs, souvenirs and market size of dance industries. Other market research use including growth, news financials and statistics on dance industries. When Joy’s Creative Arts’ customers perform dance, they can conduct as audience research including the audience watching the performance in classes, stages and videos. This research design part known as the qualitative audience research method. Joy’s Creative Arts can determine the number of response from the audience watching the performance by the audience taking a survey or post on social media or the company’s website. When instructors are evaluating students in dance programs, they can conduct movement research by determining how well students perform dance movements in dance choreographies in classes and events. This research also relates to visualization method where the instructor can observe student’s’ understanding and dance performance in classes and events. This research will help Joy’s Creative Arts staffs to decide class placements for students. This company will conduct qualitative research to forms of analogous of dance, design of dance choreography and ongoing decision of design dance routines. Next, the company can use quantitative research to determine the number of responses of dance programs, number of feedback of dance programs, customers purchase the dance programs and other services. Joy’s Creative Arts will use projective techniques on determining the respondents for the views on dance programs. The type of ethnography use for Joy’s Creative Arts marketing plan is dance ethnography. This research method allows the company to focus on face-to-face research for the dance worlds, dance events, social and culture aspects of dance. Joy’s Creative Arts can develop analytical questions and ethnographic descriptions about dance programs. This search also includes political and religious views on dance, ethnic dance in ways to express dance. If comparing Non-Western and Western dance this allows the company to determine what dance styles customers are more likely to take in today’s dance world. Most of the customers are taking folk, contemporary and hip-hop dance, but also social dance to dance-sport and stage dance performance. When having the knowledge of participating in dance, it consisted of being part of the dancing, post-colonialism, race politics, gender, body mind and movement. Other concepts include globalization, organized by dance creation, preserved and displayed by media technologies. Eve though conducting research design is very important not only to design Joy’s Creative Arts marketing plan but find research methods to help resolve the business and marketing problems of Joy’s Creative Arts have limitations. The limitations are creating many unique dance programs, understand dance industry changes each year; unstructured techniques can affect the research for resolving the marketing problems of Joy’s Creative Arts. Some non-statistical and non-representative case, respondents selected for offering dance programs may not be available on not all research methods. If Joy’s Creative Arts is looking for a quantitative study on a dance industry may be difficult to find to design this plan. Finally, the examining hypothesis of this research problem result not the way it predicts in this marketing plan. There may have large gaps in the research that needs to fill in with the rest of the research of this plan.

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