The Monaco Government Tourist Office in New York is responsible for tourism and business travel from North America to Monaco. The office is charged with bringing visitors to Monaco, both seasoned and new through traditional marketing (direct mail, reactive telemarketing, etc.), advertising (print-travel, society, leisure print and classical radio), online (email blast, online auction, websites) travel agent relations, MICE, and public relations. In doing so, The Monaco Government Tourist Office in New York must always maintain the images of glamour, elegance, sophistication, romance, entertainment, fine dining, legends and old-world style and luxury of Monaco.
Case Study Concept
The Monaco Government Tourist Office in NY challenged the students to inspire a new, younger audience to travel to Monaco while maintaining the values it holds dear. Using existing programs including the “Monaco Takes NY” festival, the Monaco Auction sales tool and Le Club Diamant Rouge, as well as creation of new channels and programs, students have been asked to create a full national marketing program to target the “new” audience aged 25-40 with a penchant for travel as well as disposable income and time for luxury travel.
Design, Business and Marketing Plan Solution
The Project team has designed a premier event that will launch a longer-term effort to marketing program entitled “My Own Private Monaco”. This campaign was inspired by one visitor’s private and custom birthday party that was held in Monaco, which the tourism office helped plan and coordinate. Through the survey we conducted, we learned that the idea of privacy, exclusivity and customization is attractive to our identified target audience. We also know that the younger generations have a desire to “live like the stars” – this concept can be capitalized on by Monaco. Therefore, we have proposed events that are, by design, in very limited quantities, offering private vacations and/or events. We are hoping to build on successes that Monaco has had with business incentives and meetings for corporations.
In order to effectively reach this younger audience, we recommend that the Monaco Government Tourist Office in NYC partner with membership-based arts and cultural organizations to promote the “My Own Private Monaco” event. The event will have three components to it, each utilizing a different theme: Formula One, Monte Carlo, and Monaco Arts & Entertainment. Tied to each theme is a vacation package with specific and exclusive offerings that will be awarded through a raffle, so that the young event attendees can visit Monaco and experience Monaco’s offerings in a luxurious and exclusive manner. Of course, once the younger consumer has this experience, s/he will want to visit Monaco again in the future.
The Monaco Project Team
David Einhorn, Columbia Business School
Seungbum Kim, Columbia Business School
Andrew Person, Columbia Business School
Sangita Popat, Columbia Business School
Sonia Samee, Columbia Business School