In this lesson we continued with our research of the film Star Wars The Force Awakens. We completed the contents page, the introduction and the 8 p's of marketing.
Introduction:
During this research project I would like to look at how ‘Star Wars The Force Awakens’ saturated the market and how they managed to do this so eloquently perhaps compared to others film such as British independent films. The film was released on December 17th 2015, it had been 10 years since the previous film in the story had been released therefore, they would have needed good marketing techniques to get consumers/target audience interested in the franchise again and would have to reach a wider demographic since a lot in the world has changed since the original Star Wars films were released in the 1970's-80's.
Marketing:
In general, marketing is a way in which companies/ businesses need to persuade the customer or consumer to buy the product or service in exchange for their money. Particularly in the film industry it is more of a challenge to market because it is not a physical product that the consumer would be walking away with, and in many cinemas where the film is available to see there are also many other films which are playing at the exact same time, so the company needs to make their film feel more unique and to persuade audience to spend their money on a ticket to watch that particular film over the other ones which are showing. In order to do this, they need the money to market the film through the use of synergy and technological convergence.
8P'S Of marketing:
In business it is essential for marketing to use the 8p’s. This method shows where your marketing takes place, how much products should be sold at, how to promote it and so on. One key part of the 8p’s is price, to help compare products or services to competitors. This is good for marketing as making the price higher than competition has priced it as will decrease sales. On the other hand, there is always a gap in the market in different markets for different prices. Seeing that there are no other expensive and high-quality products in a market for example is a good way to make money. There is always going to be people wanting either high quality products and also low quality too. An example is a Motorola phone is very cheap to buy but there are way more people with apple phones which can be 5 times the price.
Product is also key about marketing as without a USP or differentiating from other competitors the business will not have a high chance of succeeding. All businesses need something unique about them, customers all have different tastes. With this product side of the 8p’s you can find out if there is a gap in the market for a certain product. Starting a company which is the same as another will not work due to high loyalty to that service or product, meaning low amounts of customers and purchasing.
The final two main p’s are promotion and place. Place is all about where the product should be sold. This takes into account the target audience and market as customers need to be able to reach the company easily. For example, if a company is renting out kayaks, the company would want to be near a beach. On the other hand, a corner shop would want to sell in an estate or near a lot of houses instead of in the countryside. Promotion is also quite similar but instead it’s about how to gain your target audience’s attention. Examples of this are advertisement or loyalty schemes or even offers like buy one get one free. This engages the target market and grabs their attention as they are interested due to the company being very close to the audiences needs.
The other 4 P’s are people, process, productivity and physical evidence. People is all about the company’s employees, founders and culture. This is basically the insights of the business and who runs it. Process is about complains, response time and service delivery. This overall is about how the company copes with customers and how well they are treated. Productivity is all about how well staff work and how efficient the business. For example, this could be to do with how many burgers are made on average by one person over an hour in McDonalds. The last one is physical evidence which is customers stories, recommendations, how they view the business and how they are presented with products and services by a business. An example of this is a layout of a store or how the store looks in the customers eye.
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