Problem
Bob Marley Museum
PROFILE: The Bob Marley Museum in Kingston Jamaica is dedicated to the reggae musician of the same name. The Bob Marley Museum houses an 80-seat theatre; a gallery of Marley memorabilia; a library with the latest books on Bob Marley, reggae music, and more; a gift shop and the Queen of Sheba restaurant which offers Jamaican cuisine. It is located at 56 Hope Road, Kingston 6, and is Bob Marley's former place of residence. It was home to the Tuff Gong record label and record manufacturing plant, which was founded by The Wailers in 1970.
GOVERNANCE STRUCTURE: The Bob Marley Museum falls under the Robert Marley Foundation, which is actively involved in the planning and implementation of various activities including art exhibitions, film festivals, workshops - for cultural development, talent shows and much more. One of the major events is the "Bob Marley Week" which is hosted in collaboration with the Jamaica Tourist Board and Jamaica Cultural Development Council. In recent years the Museum has hired a professional manager to enhance the visitor experience and improve the financial performance of the organisation. The General Manager reports to the Board of Directors, which is made up entirely of family members.
VISITATION: The Bob Marley Museum is the most visited attraction in Kingston and a flagship of heritage tourism. In 2006 there were 31,101 visitors, an increase of 15% on 2005 levels
FINANCES: The main source of income is from entrance fees, which account for 90% of the total earnings. The Gift Shop contributes 8% and the rental of the restaurant provides another 2%. Total earnings were US$280,000 for the last fiscal year 2006, which was a 20% increase over 2005.
MARKETING: The Museum has historically depended on the international legacy and the iconic status of Bob Marley to market the Organisation. In so many ways, the iconic legacy of Bob Marley means that the Museum does not have to conduct intensive marketing activities. However, promotional activities are undertaken, for example distributing brochures to hotels in the Kingston area and on the North Coast to help direct traffic to the Museum. Branding is considered to be a critical element of the marketing effort. The Robert Marley Foundation handles licensing of the Bob Marley image and other intellectual property matters. The tourism agencies also use it for promotional tours of visiting journalists and travel agents. The Museum is a member of the Jamaica Hotel and Tourist Association.
A. Name the industry that institutions like the Bob Marley Museum belong?
B. From the case identify one industry that could benefit from the operations of facilities such as the Bob Marley museum and explain clearly how this industry along with the museum can assist economic growth and development for the country.
C. Explain how the Bob Marley Museum may get financing from the government and why it would be able to do so.
D. Why is intellectual property important for the Bob Marley Museum?
E. Less established organizations in the industry to which the Bob Marley Museum belongs face difficulties getting loans explain why.