Audience and resource development play an important role in arts and media industries. Audience segmentation, for instance, is vital in making decisions related to the marketing processes. For example, a particular group of people may be attracted to artwork that is not appealing to another. This fact means that it is important to segment the audience in a way that people with the same interests are placed together. The Inc. article by Amy Nelson titled “Women Drive Majority of Consumer Purchasing and It’s Time to Meet Their Needs” compares purchasing decisions between men and women, which highlights the issue of audience segmentation. In such a case, Segmenting the market in terms of gender would be appropriate in order to avoid targeting the wrong group. Therefore, the article stresses on the importance of audience segmentation.
Resource development is also an important concept learned from the course content. It focuses on issues, such as importance of the non-profit sector and arts. For instance, the article by Robert F. Garnett, Jr. titled “Positive Psychology and Philanthropy: Reclaiming The Virtues of Classical Liberalism” covers what runs in the mind of philanthropists and people operating in the non-profit sector. In this case, the main goal is having a flourishing community. Besides, arts can also be used to add value to the community by making the audience appreciate their heritage. This fact it in line with the concepts learned in the course since it stresses on the importance of resource development, especially in the non-profit sector. Therefore, individuals and businesses should also engage in activities that uphold the heritage of the communities where they operate.
Resource development and fundraising efforts can be subsidized in various ways. For instance, according to the Canadian Heritage Report, organizations are funded in Canada through grants, donations, fundraising, sponsorships, sale of goods and services, membership dues, and endowments or investments, among other methods (6). Art organizations can, therefore, take advantage of the available sources of funds to finance their projects. Besides, the main challenge facing art organizations is insufficient funds and not taking advantage of the available resources. Some Canadian organizations are also unitizing the available opportunities for financing, such as grants and sponsorships, from government institutions to grow. This fact means that art organizations can also utilize the same opportunities to prosper. For instance, the Canadian Heritage Report highlights that “In 2018, the City of Toronto reached its longstanding target of directly investing $25 per capita in culture (including the arts, film and entertainment industries, and museums and heritage). The 2018 per capita is calculated using Statistics Canada’s census population of 2.7 million people in 2016” (9). Therefore, there are many opportunities that can help art organizations to grow.
Art is also an important industry, especially in the non-profit sector. Besides, it ensures that the heritage and culture of communities are upheld. For instance, grants, such as those that come from family foundations, such as Laidlaw Foundation, TELUS Foundation, Hunter Foundation, RBC Foundation, and Alterna Savings, among others, can be used to support arts (Canadian Heritage Report 10). This fact means that companies operating in the art sector should apply resource development to source for funds to expand the sector. Therefore, as covered in the course, resource development is instrumental for expansion and flourishing of various sectors.
Canadian Heritage Report. Stats Canada, 2017.
Garnett, Robert F. “Positive Psychology and Philanthropy: Reclaiming The Virtues of Classical Liberalism.”
Nelson, Amy. “Women Drive Majority of Consumer Purchasing and It’s Time to Meet Their Needs.” Inc., 2018, https://www.inc.com/amy-nelson/women-drive-majority-of-consumer-purchasing-its-time-to-meet-their-needs.html. Accessed 12 Feb 2018.