1) Selected opportunity: The
opportunity I would like to pursue is to take over an existing movie theater or
start one of my own and maybe startup a few more locations based off the level
of success.
2) Product/Service:
The solution to the problem of my opportunity, I would come
up with both a product and service that would escalate the production, value,
and experience that brings customers of the movie theater industry to be excited
about. My product/service would start with a fair membership system that
customers can be part of that relies off a point system for every two movie
tickets one customer purchases. For example, once a customer is in the
membership system and they make a transaction for two movie tickets, they would
receive discounts off concession items such as fifty cents off popcorn, one
dollar off concession, one dollar off a drink. For the ultimate discount that
would draw in more customers is once ten tickets has been purchased to an
account, that individual would receive a free movie ticket for their next
visit. I don't think there is anything that gets a customer more excited when
they hear that they have received something free. The service part of my
opportunity would be to create consistent promotional sales on certain days
throughout the week. For example, on Monday there would be free popcorn with
any purchase at concession. Another promotion would be, buy two tickets, get
one free on Wednesday. Also, there would be, "Throwback Thursdays",
and that would promote a traditional classic movie, like an 80's movie, being
premiered on Thursday's at a flat rate. My second part of the service, thanks
to my last interviewee, I would create an up to date company social media
account that stays connected to the community to promote our business by
posting daily updates on the theater and what events that're coming up on the
calendar.
Hey Stuart, I really like the idea of your opportunity. I have heard of other enhanced movie theatre experience ideas in other areas that have done really well. I do think however that it would be difficult to create an enhanced experience without driving up the prices. The idea of having a membership system is very interesting. If you can make it cheap enough this idea would well. Many people including myself however, prefer to just stream movies online in their own homes because of the price of movie theatre experiences already.
ReplyDeleteHi Stuart,
ReplyDeleteThis post really made me want to go to the movies. I could be one of your loyal customers! I think this is an interesting idea, but I wonder how you would really compete with everything else that’s already out there. Do you think you would be able to create a brand that people would be loyal to, or do people just go to the closest movie out of the convenience of location? I still think it’s a great opportunity!
Hi Stuart,
ReplyDeleteI thought your idea is really fun and interesting. I think that people do not consider that the attendance rates in theaters has decreased. Going to the movie theaters is one of my favorite past times and I think that this opportunity is great. I really like your idea of creating a point system to encourage more people in going to the theaters.