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Wgu C212 Marketing Vvt2 Task 1

1798 words - 8 pages

EdgeMark New Services and Marketing

Marketing C212

February 2nd, 2015

EdgeMark New Services and Marketing

EdgeMark Cinemas are a chain of movie theaters located in 37 states with 475 theaters in those states covering the west coast, east coast, and Midwest. EdgeMark’s profits, like other cinemas, have been in a small but constant decline over the last 12 years. Industry Wide Average of 2.05% ticket sales decline per year for the last 12 years also, when adjusted for inflation, revenue has dropped an average of 1% a year for the past 12 years (Domestic Movie Theatrical Market Summary, 2015). The chain is currently looking to increase ticket sales, loyal customers, and profits by adding additional products and services.
New Services
Marketing executives for EdgeMark have proposed two new services, which are premium memberships and special viewings. These services are aimed at increasing patronage by loyal customers, and enticing new customers to become loyal patrons. Both services will be easy to setup and operate and will add to profitability for years to come. These new services are both feasible and will enhance the cinemas profitability in the following ways:
▪ Little cost to initiate and operate
▪ Added profit from membership fees and additional ticket sales
▪ Added profit from additional food and beverage sales
▪ Increased patronage by loyal customers
▪ Increased numbers of new loyal customers
▪ Higher gross margin on certain new services, such as screening older movies
New additional services will also confer competivie advantage in terms of offering services direct competitors do not offer as well as the possibility of luering new patrons into becoming loyal customers. Because upscale premiere movie theater, which are only located sparsely throught out the Unites States offer membership with similar perks adding a tiered membership system to a basic movie theater chain will give customer the illusion that they are visiting a premiere style movie theater with all the same perks and advantage, but at a lower cost.
Premium Membership
The first new service is aimed at rewarding loyal customers by offering them a selection of memberships that would make their regular movie going experiences more pleasurable and inviting. The membership would consist of four tiers consisting of silver, gold, platinum, and diamond. The benefits inferred upon membership into the various tiers will include:
▪ VIP access for ticket sales for premieres
▪ Front of line for premieres and other lines
▪ 10% Discount on food and beverages
▪ Access to special premium seating when available
▪ Discount tickets at specific screenings, matinee, special screenings etc.
▪ Special screenings with access to a premium food and beverage menu for VIPs only
Currently there are no major regular cinemas in the United States which...

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