1.) Pick a segment: Movie theaters are seeing an absence of attendance from customers throughout the past several years. Many corporate chains are trying to resolve this problem, especially competing with external sources. Brigning in and trying to retain customers for the future will be a segment that needs to be focused on.
Interview #1 (Parvati, late 40's, mother of three): The first person I interviewed is a nurse at a hospital and a mother of three. I asked her what the biggest issue was at attending a movie with the kids and how does it compare to other activities? Parvati went into detail about how going to a movie can be so expensive with tickets and concessions, that she actually has been comparing financial average total of the trips she takes to the movies with her kids and husband to the times they go to professional and college sports events, taking into account that they are a big on sports as well as movies.
Interview #2 (Seth, early 20's, college student): The second person I interviewed was very energetic on the topic of movies and that he still takes the time out of his busy work/school schedule to see a movie at least once a week. I asked Seth what is one thing that you see differently from other movie theaters and what they offer or don't offer? Seth said that he doesn't stick to one theater in Gainesville, mainly because the prices are identical, but he has noticed that the AMC theater has offered a package to where you sign up and pay thirty dollars after fees and taxes, for a month and you get access to a movie once a week, but they put restrictions on new releases. He went onto mention how unique that was, but he said the difference in cost if you were to see a movie once a week compared to the package that it's not really a good deal.
Interview #3 (Patrick, mid 50's, Educator): My last interviewee is actually a former educator and he mentioned how going to the moves use to be a favorite hobby for him on his days off or after a long day at the high school. I asked Patrick what he thought about the use of TV applications for use of movies instead of paying a outrageous amount to see a new movie. Patrick said that was a good point and that he loves the apps of Netflix, Hulu, and the new YouTube TV. Patrick went onto say that he'd rather stay at home and watch movies he's already seen for the hundredth time than go out and pay for a movie at the theater he's not so sure about, and that he would wait for it to come out on demand or Redbox.
Summary: The information I gathered was very insightful from all of my interviewees. There were definitely some aspects I agreed on when it came to other resources for movie entertainment and I still continue to do a few activities such as Netflix and YouTube TV. I also learned that there are other things you have to take into consideration when going to the movies, referring to Parvati and her family of three kids and her husband, and how hectic that can be for an individual.
Conclusions: Th conclusions of this assignment makes me realize that there are a lot more external sources and competition that my business will face on a daily basis. By not just competing with other theaters, but most importantly taking into the fact that sports events are now a strong competitor to face.
Hi Stuart,
ReplyDeleteI always thought of the competition for your idea to come from other movie theaters and streaming services like Hulu or Netflix but never from sporting events. That first interview that you did provided some good information about your potential competitors. It really had me thinking as to whether I would prefer to go to the movie now a days or go see a football game.