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So I was watching the short film “Enjoy Your Intermission” about a struggling drive in movie theater. From the looks of the film people love the place, and doing more a little research they have good google reviews and their facebook seemed to have a lot of positives too.
I’m trying to learn more about business so I think its important to study not only what good businesses are doing well, but what bad businesses are doing poorly, so I can avoid and know how to handle these issues.
It is important to ask How can you solve a problem instead of just dismissing the problem
So instead of dismissing this as simply a failed business I asked myself how they could manage to stay open. And here is what I came up with
How can they keep their business?
· Changing to digital film, I feel like your product should always be up to date and as current as possible. Why Ignore technology and the advances other people have made?
· The issue of having to compete with digital would only apply if they were trying to focus on being a theater, but I don’t think the product they are selling is the actual movie, the product they are selling is the culture, the homie feel , the tightknit relationships of all these people. They are selling the lifestyle. And if they are selling the lifestyle they need to focus on selling to that niche, not the mass of movie watchers. But it feels like
· Make it a tourist destination, with souvenirs, merch etc, carry items that when people buy them -they go and tell their friends a “talk-a-bout piece” Which gives people a tangible item and markets the company (is there an actual word for that kinda thing?)(think six flags, new Orleans bars, concert t-shirts)
· Create competitive priced tickets and food so people feel like they are going to a quality place, and once they get in they realize how great the place is (make it worth it).
· Increasing product prices so much that it becomes a luxury item, (nipsey hussle, iPic), they would need to package the product better, it’d have to look like a luxury product, meaning exclusive, in demand. Create bundle deals to make the price work it. Sell the lifestyle of going to the theater rather than the movies themselves
(for those of you who don’t know Nipsey, he is a rapper that gave away his music free but sold that same product, 1000 copies, for $100, he did the same thing with another project but this time selling 60 for 1000, I don’t really like his music all that much although im a big rap fan, his business sense is something to admire.)
It is beneficial for all to participate, you will probably learn something from doing this exercise with me.
CHECK OUT THE WHOLE FILM AT http://www.shortoftheweek.com /http:2015/01/29/enjoy-your-intermission (close the space after the .com)
With all that being said, what do you think the family could do to keep the business going, and make it successful? Fastlane even?
I’m trying to learn more about business so I think its important to study not only what good businesses are doing well, but what bad businesses are doing poorly, so I can avoid and know how to handle these issues.
It is important to ask How can you solve a problem instead of just dismissing the problem
So instead of dismissing this as simply a failed business I asked myself how they could manage to stay open. And here is what I came up with
How can they keep their business?
· Changing to digital film, I feel like your product should always be up to date and as current as possible. Why Ignore technology and the advances other people have made?
· The issue of having to compete with digital would only apply if they were trying to focus on being a theater, but I don’t think the product they are selling is the actual movie, the product they are selling is the culture, the homie feel , the tightknit relationships of all these people. They are selling the lifestyle. And if they are selling the lifestyle they need to focus on selling to that niche, not the mass of movie watchers. But it feels like
· Make it a tourist destination, with souvenirs, merch etc, carry items that when people buy them -they go and tell their friends a “talk-a-bout piece” Which gives people a tangible item and markets the company (is there an actual word for that kinda thing?)(think six flags, new Orleans bars, concert t-shirts)
· Create competitive priced tickets and food so people feel like they are going to a quality place, and once they get in they realize how great the place is (make it worth it).
· Increasing product prices so much that it becomes a luxury item, (nipsey hussle, iPic), they would need to package the product better, it’d have to look like a luxury product, meaning exclusive, in demand. Create bundle deals to make the price work it. Sell the lifestyle of going to the theater rather than the movies themselves
(for those of you who don’t know Nipsey, he is a rapper that gave away his music free but sold that same product, 1000 copies, for $100, he did the same thing with another project but this time selling 60 for 1000, I don’t really like his music all that much although im a big rap fan, his business sense is something to admire.)
It is beneficial for all to participate, you will probably learn something from doing this exercise with me.
CHECK OUT THE WHOLE FILM AT http://www.shortoftheweek.com /http:2015/01/29/enjoy-your-intermission (close the space after the .com)
With all that being said, what do you think the family could do to keep the business going, and make it successful? Fastlane even?
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