Research Solutions for Better Performances
Market Research enables organizations to make better, more informed decisions. As providers of high-end entertainment, Broadway theaters can also benefit from market research. A detailed analysis of the market equips theaters to deal with their changing environment. It can help in their strategic planning. It will also help them strengthen their position in the industry.
Market research helps theaters to gain a better understanding of their target audience or market. Knowledge is power, and it helps them to strengthen their position. Use our analysis to ensure that your theater stays ahead of the competition. Market research also keeps investment risk low. An investment in testing the market for your concept makes perfect business sense.
Qualitative Research for Broadway Theaters
The wish of all marketers is to know what a customer thinks about and what drives them to buy. Qualitative research provides insight into the reasons behind your patrons’ purchases. We encourage external reviews, and our data comes directly from the source: your patrons.
We collect qualitative data with the use of questionnaires and online surveys. This data gives us definite answers on why, for example, a patron chooses one show over another. You might find out that patrons are buying tickets to your competitor’s production because it’s easier to get them online. This is a sign that you need to up your online game to make tickets to your show more accessible. If you had not done qualitative research, you wouldn’t have known what was causing the dip in sales. You also would not have known how to correct it.
Quantitative Research for Broadway Theaters
Quantitative market research is not as targeted as qualitative. Quantitative deals with sets of data that several random conditions can affect. This type of analysis is number based and involves more respondents. The large samples help moderators measure the effect of your production on audiences. It also helps them determine your market size and assists in establishing consumer profiles. It also enables you to provide suitable recommendations for the customer base.
Quantitative research has many benefits. Respondents are more disposed to partake in these studies. Why? Because they’re very straightforward and do not take up much time. This type of research offers enough insight into promoting your show. Most quantitative techniques cost little to conduct. With a large number of samples, the quantitative analysis is more effective.
Strategic research confirms the values and purpose of your organization. This type of study provides a vision for the future and sets goals. It defines ways to leverage strengths, lessens weaknesses, and clarifies opportunities and threats. It sets clear boundaries and a framework so your theater can make better decisions.
Strategy research helps decision-makers to make smarter decisions. It enables decision makers to see the related benefits. Strategic analysis also forces your theater organization to set goals. The organization first has to determine what is critical to its success. This determination helps it to set goals and make a plan for achieving those goals.
There are advantages and disadvantages to market research as a whole. Many of the problems occur because of poor consultants. SIS Research is an industry leader with several years’ experience in the field. Our consultants are top-notch. We conduct market research and testing of new Broadway shows. Market research can be beneficial to almost all Broadway theaters. Contact SIS Research today and let us take your productions to the next level.
About Broadway Market Research
SIS is headquartered in New York City in close proximity to Broadway. Our company leadership is passionate about Broadway and are patrons of the arts. Through our databases and relationships, we bring unparalleled access to speak with actors, producers, directors, influencers, entertainment marketers, consumers and patrons. We conduct Focus Groups, Street Intercepts, Consumer Interviews, Surveys and Strategic Market Assessments.