The Theater Yong, runs by the Cultural Foundation of the National Museum
of Korea, was launched in 2005 to develop products and run stores in line
with the relocation of the National Museum of Korea to Yongsan. Since the
opening of the performance hall, Theater Yong has continued to grow. It
should now stabilize its revenue creation and program development, brand its
performance stage, share the museum with more clients, and allow users to
enjoy culture more extensively.
Numerous strategies and much time will be required to get users to
recognize the new performance hall, but Theater Yong is in a significantly
favorable position to promote the hall thanks to the brand power of the
National Museum of Korea. A significant increase in profits in the two years
since its launch, and a rise in sales and net profitability for five years signify
the business success of Theater Yong.
Having passed its settlement stage, Theater Yong is now entering its
growth or take-off stage. In the current stage, it should stabilize its
operation, and also strengthen its performance hall role and heighten public
interest as a special corporation. It now needs to implement new measures
to attract more users of the performance hall to the museum, rather than
attracting users of the museum to the performance hall.
The development of performance hall audiences will not only create
revenues and sales, but also simultaneously promote the attraction of the
users of the museum. Theater Yong should thus create opportunities to
secure future users according to performance concepts, and to attract
current cultural consumers as exhibition viewers. These efforts should bring entail the development of performance programs, and bring about an increase
in the number of viewers. In this regard, performance marketing is important.
The marketing efforts required by Theater Yong include a strategy for
branding the performance hall, and marketing strategies for individual
programs, all under the basic strategy of attracting more performance goers
to the museum. Other diverse efforts to that end include the formulation of a
ticket sale strategy, a market segmentation strategy, an image strategy, and
a publicity strategy, and a market mix designed to sensitively respond to
changing marketing tools. These endeavors will certainly enable users to
recognize Theater Yong as the country's most representative performance
venue for culture and arts, as well as performance users to be shared as
museum users, thus promoting the museum's objectives.