As a marketing consultant, I believe Nathan Polanski and Sean Stronghold have a strong potential business opportunity ahead of them in opening a second-run movie theatre in Medicine Hat, Alberta. They have only one other competitor in the second-run movie theatres; with both Nathan and Sean intend on screening ten different films per night, giving consumers many different options to choose from instead of their competitor the Downtown Theatre which only showcases one film per night. All the information provided in their business plan, I believe both Nathan and Sean need to be more attentive to these key areas: product offerings, promotions, advertising, pricing, and communications in order to thrive in their business.
Product Offerings
Creating …show more content…
With a guarantee to return the $5.00 fee if the consumer thought the movie was a “Dud.” I feel both men should avoid this kind of advertisement due to the fact consumers may take advantage of the system; consumers may just say the film was a “Dud” just to receive their $5.00 fee reimbursement and they’ll enjoy a free movie, but with this kind of advertisement the business will not make any sales, but in fact the business will lose any profits it would have made if the movie was not indeed a “Dud”. Loyalty programs are in many businesses, they are highly effective and business are not losing profits out of it; initially setting up loyalty programs could potentially be costly with promotions and getting cards and their computer systems set up. Both Nathan and Sean need to consistently keep doing things necessary to be successful day in and day out, it will create long term positive habits that will help them make profits over the long term. If Cinema Cinq offered a loyalty program for every dollar you spend equals one point and when consumers reach a certain amount of points they can redeem them for a free movie, a snack food item, or even Cinema Cinq merchandise (if offered) this will also generate cash flow as consumers are willing to spend money in order to rack up the points to enjoy the benefits it has to offer.
I believe the best format of advertising Cinema Cinq is with the local radio station, its low cost, you can target specific audiences, ads can be placed quickly, and how frequent you would like your ad to be played. Many of us do listen to the radio to hear daily news with the city we live in and what opportunities, activities, and events are going on; playing the ads on this format will hit a mass
Product Offerings
Creating …show more content…
With a guarantee to return the $5.00 fee if the consumer thought the movie was a “Dud.” I feel both men should avoid this kind of advertisement due to the fact consumers may take advantage of the system; consumers may just say the film was a “Dud” just to receive their $5.00 fee reimbursement and they’ll enjoy a free movie, but with this kind of advertisement the business will not make any sales, but in fact the business will lose any profits it would have made if the movie was not indeed a “Dud”. Loyalty programs are in many businesses, they are highly effective and business are not losing profits out of it; initially setting up loyalty programs could potentially be costly with promotions and getting cards and their computer systems set up. Both Nathan and Sean need to consistently keep doing things necessary to be successful day in and day out, it will create long term positive habits that will help them make profits over the long term. If Cinema Cinq offered a loyalty program for every dollar you spend equals one point and when consumers reach a certain amount of points they can redeem them for a free movie, a snack food item, or even Cinema Cinq merchandise (if offered) this will also generate cash flow as consumers are willing to spend money in order to rack up the points to enjoy the benefits it has to offer.
I believe the best format of advertising Cinema Cinq is with the local radio station, its low cost, you can target specific audiences, ads can be placed quickly, and how frequent you would like your ad to be played. Many of us do listen to the radio to hear daily news with the city we live in and what opportunities, activities, and events are going on; playing the ads on this format will hit a mass