Entertainment Industry Essay

1. ENTERTAINMENT INDUSTRY †¢2. INTRODUCTION The story of single-screen theatre has reached its sad end in India. Multi-screen theaters have opened new vistas for the entertainment industry. After the entry of corporate titans like Reliance, the scenario of entertainment services has become more professional than ever. These theaters have changed the entire movie-going experience. †¢3. Multiplexes currently constitute 4-5 % of the 12,900 screens in India, the industry has a long way to go. This is just the beginning of multiplex revolution. In multiplex segment, PVR is the market leader in India. Besides, there are other major players like: Adlabs, Waves, Inox Leisures, Cinemax, Fame etc. These multi-screen theaters have started more facilities for customers like: online ticket booking, attractive sales promotion schemes, home delivery of tickets, SMS booking, toll-free calling services etc. †¢4. CUSTOMER RELATION MANAGEMENT Customer relationship management (CRM) is a broadly recognized, widely-implemented strategy for managing a company’s interactions with customers , clients and sales prospects. †¢5. PHASES The three phases in which CRM support the relationship between a business and its customers are to: Acquire : CRM can help a business acquire new customers through contact management, direct marketing , selling, and fulfillment. Enhance : web-enabled CRM combined with customer service tools offers customers service from a team of sales and service specialists, which offers customers the convenience of one-stop shopping. Retain : CRM software and databases enable a business to identify and reward its loyal customers and further develop its targeted marketing and relationship marketing initiatives. †¢6. STRATEGY For larger-scale enterprises, a complete and detailed plan is required to obtain the funding, resources, and company-wide support that can make the initiative of choosing and implementing a system successful. Benefits must be defined, risks assessed, and cost quantified in three general areas: PROCESSES PEOPLE TECHNOLOGY †¢7. The 7 P’s of Multiplex Cinemas PROCESS PROMOTION PHYSICAL EVIDENCE PEOPLE PLACE PRICE PRODUCT THE MARKETING MIX †¢8. ENTERTAINMENT INDUSTRY This can be explained properly with the bifurcation below. Traditional live entertainment industry : Theater Play writers Actors and Theater directors Music industry Composers and Songwriters Singers and Musicians Orchestras Publication industry Authors Journalists Publishers Printers The 20th century mass media industry : Film studios Cinemas Broadcasting Record industry Theme parks Discothà ¨ques †¢9. WHAT IS A MULTIPLEX INDUSTRY Multiplex is a medium that offers a person composite entertainment comprising of a one stop destination to shop, entertain, and dine and watch a Varity of movies under a common roof. Multiplex are one of the means of lifestyle that offer to viewers the choice of watching a movie in a five star or three star environment. †¢10. SOME FACTS ABOUT MULTIPLEXES Presently there are approximately 13000 screens in India with equal number of space available for the same amount of theatres to be opened. Multiplexes in India are given benefits for their development as they form a major part of the entertainment industry. Benefits such as overall tax concession, reduction in entertainment tax and so on are provided by the govt. †¢11. COMPETITIVE RIVALRY WITHIN THE INDUSTRY THREATS OF NEW ENTRANTS THREATS OF SUBSTITUTES BARGAINING POWER OF CUSTOMERS BARGAINING POWER OF SUPPLIERS PORTER’S FIVE FORCE MODEL †¢12. PROBLEMS FACED BY THE INDUSTRY- Indiscipline among filmmakers. This made the industry fragmented and disorganized. Piracy leading to massive losses for the industry. Lack of resources in terms of finance, human etc. Lack of corporatized management. Limited studio space and lack of security lending to an expensive foreign locales resulting in drain of resources. Reluctance of financial institutions to fund non asset based ventures Lack of expertise to handle latest equipments. †¢13. Services Provided Multiplexes provides the user, Entertainment-related information Pricing Availability Reservations for ticket for its cineplexes. Theatre Environment Auditorium Seating Restrooms Parking Area Film Presentation Sound Quality Picture Quality Volume Food Service Cleanliness of Snack Bar Selection of Concessions Taste/Temp of Food Item Personnel Ticket Cashier Snack Bar Attendant Handling of Problems †¢14. SWOT ANALYSIS OF ENTERTAINMENT INDUSTRY STRENGHTS most booming sectors in India Change in the lifestyle and spending patterns of the Indian masses on entertainment. Technological innovations WEAKNESSES 1. The Entertainment sector in India is highly fragmented. 2. The lack of efforts for media penetration in lower socio-economic classes, where the media penetration is low. 3. The film exhibition business’s fortunes depend on the success of the films they are showing 4. Rapid development of digital technology and the advancement in the broadband and networking space 5. Low margins and seasonal factors in the movie exhibition . †¢15. OPPORTUNITIES The Indian film industry is the largest film industry in the world in terms of no. of films produced and tickets sold each year expecting growth will be continued in coming years. The increasing interest of global investors in this sector. The media penetration is poor for the poorer sections of the society, offering opportunities of expansion in this area Rise in viewership and advertisement expenditure. THREATS Piracy, violation of intellectual property rights poses a major threat to media and entertainment concerns. Rapid innovations in technological sector. Increased competition with other entertainment sector like IPL, affect the occupancy rate in theatre. †¢16. Research Objective The major objective of this research was to determine the factors that constitute the bases of customer relationship management (CRM) wrt.two multiplexes in Noida city Waves and Adlabs. †¢17. Research Methodology The study was an explanatory meant for the purpose of investigation of factors that constitute the foundation of CRM in entertainment sector. Based on these factors , Adlabs and waves multiplexes were compared .this reserch was conducted on 100 movies-goers in noida (50 visitors of Adlabs and 50 of Waves ) which included students , business men , executives, family etc. †¢18. Tool For Data Collection And Analysis For primary data collection , a self administered and non disguised five point scale questionnaire containing 21 statements was used For the research , some hypothesis were formulated and tested for significance to prove the objective in scientific manner. †¢19. Results and Discussions Ambience: this factor was constituted of level of comfort in multiplex , fully air conditioned hall, plush and comfort chairs. Amenities: This factor constituted customer friendly services , food joints , drinking water facilities , neat and clean toilets and kid zone etc .. †¢20. Speedy services : This factor constituted spped of ticket booking , facility of quick location of speed , speed of services in restaurnant . Staffs cooperativeness: This factor constituted the friendly behaviour by staff, their problem solving attitude . †¢21. Online services : The factor constituted the range of online services provided by multiplex , online ticket booking and online payment system. Infrastructure : The factor constituted infrastructural components like building and other facilities. †¢22. Conclusion and Implications The study has determined six factors: ambience amenities speedy services staffs cooperativeness online service and  infrastructure. The result of this study can be of use for multiplex theatres via-a-vis single screen theatres. This study can be made on large sample and comparison across various cities can be done. However, this study is limited to noida city only . The study has wide implications for the industry in specific. Much work can be done towards strengthening CRM practices in multiple segments in INDIA .