Heard Museum

Market Analysis (U.S.)

Because of the economic crisis, the museum industry revenue
has been fluctuating (-0.6%)
However, in five years range, it would recover steadily (1.1%)
Revenue Resources
U.S. Museums Benchmark
Median admission fee: $7.00
40.0% museums do not charge for admission
Along with the government support is decreasing,
admission fees are raising
Profit margins drop to 2.9% in 2013 from 3.1% in 2008
Visitor Statistics (Arizona)


Direct Competitors
National Museum of the American Indian(NMAI) (Washington DC)
Museum of Indian Arts & Culture(MIAC) (Santa Fe, NM)
Autry National Center (Los Angeles, CA)
Gilcrease Museum (Tulsa, OK)
Eiteljorg Museum of American Indians and Western Art
(Indianapolis, IN)
Focus Areas and Museum Collections
NMAI: 825,000
MIAC: 75,000
The Autry: 500,000
Gilcrease
: 10,000
Eiteljorg
: No data
The Heard
: 41,000
North
West
South
East
The U.S.A
Focus Areas and Museum Collections
NMAI: 825,000
MIAC: 75,000
The Autry: 500,000
Gilcrease
: 10,000
Eiteljorg
: No data
The Heard
: 41,000
North
West
South
East
The U.S.A
Museum of Indian Arts &
Culture(MIAC) (Santa Fe, NM) Can
be the most direct competitor and
benchmark of Heard Museum

$8 -
Price and Attendance
65
Attendance(,000)
Price of Admission
$18 -
$9 -
$0 -
$10 -
$12 -
72 87 135 375 1,700
The Heard
NMAI
MIAC
The Autry
Gilcrease
Eiteljorg
$8 -
Price and Attendance
65
Attendance(,000)
Price of Admission
$18 -
$9 -
$0 -
$10 -
$12 -
72 87 135 375 1,700
The Heard
NMAI
MIAC
The Autry
Gilcrease
Eiteljorg
$6: New Mexico residents
$9:non-residents
Free: Children 16 and under
Free: Sundays for New Mexico
residents with ID
$18.00: Adults
$13.50: Seniors (65+)
$7.50: Students (w/vaild I.D.)
$7.50: Children (6-12)
Free: Children (5 & under)
Free: American Indians
Pricing Recommendation
Decreasing the admission fee to attract
visitors
9 % of Revenues came from Admissions.
55% from Shop, Food& Beverage
portions
Increasing in number of attendance,
expecting to contribute to shop revenue.
Source: Heard Museum Annual Report 2012
9%
55%
Recommendations
Based on the market analysis:
o Museum market is growing and there are opportunities to increase
visitors
o Key to success is to increasing members who are repeatedly visiting
museums.
o The number of non-resident visitors in Arizona consists 62% of total
overnight visitation, therefore, those people should be targeted
o Increase advertising investment on social media
o Enhance services to international visitors (language of
guide/exhibits, ads)