Author: House, Michael W.

Publication Year: 1982

Media Type: Book

Summary:

Abstract:

Published by FEDAPT, the Foundation for the Extension and Development of the American Theatre.

Michael W. House, principal of Mallory Factor Incorporated discusses the marketing mix:

The marketeer knows every exchange is controlled by four variables: the Product, the Price, the Promotion, and the Placement. These are called the Four P's.

As the law of gravity is basic to physics, the Four P's are basic to marketing. Whether you sell socks or Shakespeare, pots or Puccini, ties or toe-dancing, whenever an exchange happens, these four factors are present. What is great about all of this is that the Four P's can be controlled. They can be manipulated to your advantage, if you plan their use. That means you can partially control the future of your company.

This plan, the way in which the Four P's are to be combined is called the market mix. I am constantly amazed at the number of arts administrators, who wouldn't dream of making a cake without a recipe, but who merrily jump into creating a company without any plan or just a small part of one. They show less of a concern for their livelihood than their sweet tooth. Not only must the company establish its artistic goals and financial plan, but it must also establish solid, realistic planning for a way to present itself to the public and a way to earn every last red cent it needs.

Marketeers have even created a little jingle to help them remember how important this is: The master marketeer manipulates the market mix to make the money mandated. You must plan the product, price, promotion and placement for present and potential purchases. (p. 66)

Arts & Intersections:

Categories: Fundraising