4 p's in movie industry

Four P’s concept applied on Movie industry:

PRODUCT: For a movie to be selected by its target audiences, it needs to be clearly identified by the audiences in its Marketing. Marketing should include the knowledge of genre, core cast, theme of film, special effects, etc. If we take Movie as a Product we can say that it is an intellectual product that can be delivered by different ways: like, by theaters, video tapes, DVD’s, CD’s of sound tracks, television and also by Internet, etc.

PRICE: Pricing in movie industry looks to be very standardized as in multiplexes, a movie ticket cost same for all the movies. But if we considered the broader concept of movie product then the price is very fluctuating. There are certain contracts which are made between producers and distributors and according to the distribution contract the returns are given to producers. It can be negotiated on the bases of:

• Market segments
• Percentages
• Promotional budgets
• Theatrical schedules

PLACE: Now innovation in technology has discovered so many ways as people find venues for entertainment not only by Theaters and broadcast, but on in homes, by internet, on phones, etc. options for delivering the movie product are expanding.

Promotion: Promotion is a very important marketing tool for every movie form the initial stage but till end of lifecycle of that movie. Promotion of the film is done by many of the techniques like through merchandising; media tie up, in film placements, promoting new games and toys with in the market. Promotion helps in attracting audiences towards theatre.