Chapter 3 - Marketing for Arts Organizations

What is the purpose of marketing for arts organizations?

• To make a profit

• To understand and respond to the consumer's voice

• To avoid paying taxes

• To advocate for the arts

What tax code allows nonprofit organizations to avoid paying taxes?

• 501(c)(3)

• 501(c)(4)

• 501(c)(6)

• 501(c)(7)

What did the Tax Cut and Jobs Act of 2017 create for executive pay over $1 million?

• Excise tax

• Income tax

• Sales tax

• Property tax

What challenge do arts organizations face compared to commercially driven counterparts?

• Short lifespan of their product

• Lack of government support

• Correlation with better learning and living

• Inability to make a profit

What should arts organizations consider when defining who they serve?

• Only the art

• Only the consumer

• Both the art and the consumer

• Neither the art nor the consumer

What are the five Cs used by the marketing team to determine how best to bundle attributes into the product offering?

• Consumer, company, collaborators, competition, and context

• Consumer, company, competitors, context, and cost

• Consumer, company, collaborators, competition, and cost

• Consumer, company, competitors, context, and cost

How can economic value be defined?

• Monetary terms, long-term savings, total cost of ownership, and intrinsic pleasure

• Monetary terms, short-term savings, total cost of ownership, and extrinsic pleasure

• Monetary terms, long-term savings, total cost of ownership, and extrinsic pleasure

• Monetary terms, short-term savings, total cost of ownership, and intrinsic pleasure

What is an example of a trade-off in economic value?

• A battery that costs more but lasts longer

• A battery that costs less but lasts longer

• A battery that costs more but lasts shorter

• A battery that costs less but lasts shorter

What is the total cost of ownership?

• The lifespan of the product compared to the cost of alternatives

• The initial cost of the product

• The cost of maintenance for the product

• The cost of shipping the product

What is an important factor to consider when evaluating and comparing economic value to the consumer?

• Different people appreciate the arts in different ways

• The cost of alternatives

• The lifespan of the product

• The trade-off between economic advantage and cost