Assignment-4A-FORMINGANOPPORTUNITY

1) Your beginning point: I have a belief that an opportunity exists within the movie theater industry to better the overall experience for customers and it could be dramatically improved for many reasons mainly referring to cost, quality and quantity of production, customer service, etc.
2) Describe your belief: Movie theaters have seen a gigantic deficit in attendance rates from customers over the past few years. According to a survey recorded in June of 2019 by statista.com, it previewed that only 46% of US adults visit the movie theater once a year; 40% visit less than once a month, and 14% visit one or more times per month. I believe the unmet need is that the overall satisfaction customers have is missing from their movie theater experience. This could be a result in how expensive movie tickets are and also concession prices. Some (older) customers cannot adapt to the idea of having an interaction with a kiosk to purchase tickets. So I think people who really enjoy going out to the movies for the full exquisite experience is who has this need. I believe their need is somewhat new and has not always existed, but from seeing a decline in attendance is really dampening the trend of keeping a movie theater in business. A lot of people are using electronic devices such as their phone, gaming console, and amazon firestick to stream movies illegally rather than get in their car and go to the theater. At this point, I'm not sure if I could make a definite impact to change these circumstances, but I could most likely change up some certain things in the movie theater industry to reel in some revenue. In percent terms, I would say that 60% of my opportunity belief exists based off the information I was given for this assignment.
3) Identify the prototypical customer: 
4) Iteration No. 1 William (White male, 24 years old, college student): The first person I interviewed gave me a lot of useful information for my opportunity belief. William said many people that go to a movie theater have different reasons to go and different preferences about certain things. He mentioned that on of the exact nature needs were to lower ticket prices for all categories from children rates up to senior rates. My interviewee said he became aware of this need after a lot of movie theaters went away with matinee prices and stuck to one general price all day, everyday. He said he experiences these needs most of the time mainly because he lives in Orlando and says the theaters there are all one general price for his demographic and he also mentioned that they might not even include a student discount to only take off a few cents. He has had this need for quite a while, ever since he moved away from home to go to college and had to start paying for his own movies. Sometimes my interviewee says he addresses his need by taking a chance on a illegal movie stream website and streaming it off there to save some money. William doesn't prefer to do that because enjoys the experience of going to the theater, smelling fresh popcorn, and sitting in a comfy chair. He is not always satisfied with this solution because half of the time the stream off of the website lags more times than others. He knows if he goes into a movie theater, 99% of the time he will enjoy himself.
Iteration No. 2 Carol (White Female, in her 60's, retired): The second person I interviewed was a lovely lady named Carol who I asked what she loved most about going to a movie and she said she enjoys the delicious snacks from the concession stand more than the picture depending on if it's a movie she wants to see or if it's a movie her husband dragged her to go to. She told me she wished that movie theaters would make the experience in general more affordable, but most importantly to her the concession prices. Carol mentioned that she loves when the theater offers discount night on popcorn or other hot foods, but she said for how often she goes to the movies, she is paying a ton just for refreshments. Carol told me that if she is just in the mood for candy, then she will just go to the dollar store to pick a few treats for a low price to satisfy her needs. Her solution to the problem is sometimes a win and sometimes a loss. Carol is a big fan of hot buttered popcorn, so when she goes into the lobby she is easily influenced to buy some and she herself knows it is impossible to sneak in some of her won.
Iteration No. 3 Mitch (White Male, middle aged): The last person I interviewed also gave me a lot of great feedback on his experiences with going to the movies. Mitch said his biggest pet peeve (unmet need) is that he can't stand how some movie theaters have made the transition to an all computer kiosk setup for a simple transaction to buy a ticket. I think the exact nature of the need for Mitch is that he prefers to have a face-to-face interaction with an employee to purchase his ticket. He mentioned that theaters who feature a kiosk venue to purchase or pickup tickets makes the process of the waiting line seem forever, especially if there is a malfunction with the machine and it makes him never want to go out and see a movie. Mitch also said that it wasn't just movie theaters, but everywhere you go now it seems like every business has a self-serving kiosk including fast food restaurants and he cannot stand it. Mitch is currently addressing his need by facing the music and taking his chances by making transactions at kiosks, but he is not happy about the direction the movie theater business is going in having these kiosk venues to order tickets. His solution is making him fade away from going to the movies and taking a similar direction as William and streaming movies off an illegal stream to save time and money.
5) Single Reflection (All 3): The most important thing I have learned about my opportunity is that each person I have interviewed has at least one issue with the movie theater business and I believe that is something I can improve to keep a movie theater up and running efficiently. The most surprising thing I have learned about my opportunity is that one of my interviewee's were right about people that go to movies, go for different movies and have different preferences about certain things. I think I could be able to accommodate to the preferences of these three customers to where I could bring back enjoyable and affordable movie theater experiences for passionate customers.
6) (Repeat twice more steps 3, 4, and 5): ^^^^^^^ 
7) Summarize: I think my original opportunity belief still exists, although some of the alternate routes these people have taken to reside from going to movie theaters bugs me, but I also think that I can adapt to their preferences and other customers to where the movie theater can draw in revenue through certain ways. I believe my opportunity is more accurate when I started mostly because I figured out what people my age were doing to access new movies through illegal movie websites and I also had a good idea that concession items would attract a good percentage of customers as well (no names included). I truly believe that customer service/feedback is a crucial part of entrepreneurship and owning a business. Customer service/feedback is what can make a business make or break itself. I also think there is a trade-off in both routes you take in adapting to customer feedback and staying firm in certain areas of your business, but I know both concepts can be a difficult process in how you're going to satisfy both your customers and employees.