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Essay on importance of time management for nation building

essay on importance of time management for nation building

Published: 23rd March, 2015 Last Edited: 23rd March, 2015

This essay has been submitted by a student. This is not an example of the work written by our professional essay writers.

Introduction

This about Barry Champion, an enthusiastic man who aspires to grow his business through the opening of a new cinema house which he bought from a previous owner. He intends to make it in a different style so as to attract many customers in-order to maximize his market share.

Task 1: Marketing Strategy Introduction

'Marketing is an organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders.' (Kotler & Keller)

'Marketing management is the art and science of choosing target markets and getting, keeping, and growing customers through creating, delivering, and communicating superior customer value.' (Kotler & Keller)

The Plaza Cinema truly has some degree of similarity as the other cinema businesses but in a new environment. Its location is far much attractive to the citizens including the tourists incoming and its accessibility in general. Evidence on whether this would be a profitable outlet lies in the fact that, it has been surrounded by environmentalist houses, education college, textile mills and many others.

It is my belief that, it will pick to be more admirable in future once extensive and intensive renovations are properly done put together with strong advertisements to achieve tremendous margins. Cinema industry has got an immense customer growth ranging from males, females and children.

Marketing Implications

Refers to the degree to which different factors play part in the formation of consumer purchase decisions to support their self concept.

In most scenarios, implications for marketing are greatly contributed by change in a particular country. This change could be on an incremental or radical base. It helps in alerting the managers towards customers' convenience.

In other words, marketing implications are the indicators of a particular market which normally shapes its peoples behaviour. An understanding of customer behaviour is very important in terms of these four extremes:

For Barry Champion to be successful in this industry he should try to understand the impact of culture, lifestyle, personality and perception before opening and developing his newly acquired cinema business.

Culture

'That complex whole that includes knowledge, belief, art, morals, law, custom, and other capabilities and habits acquired by man as a member of society.' (NCC Consumer Behaviour Notes, p.12-2)

Culture influences consumers/customers purchase decisions due to the fact that, people of a certain culture pursue something in common probably due to national variations, subcultures, languages, signs & symbols, and cultural taboos.

Therefore, in the cinema industry, Champion has got to be extra careful when opening his newly acquired cinema business. As if it's not enough, he must foresee the existing customers' cultural background and plan on the potential customers he would aspire to cater for.

Different advertisements and promotions made have to be ensured that it's targeted at the right people and at the right place. Otherwise Champion is going to lose customers as people differ in beliefs. Not being careful here could cost him a lot.

Lifestyle

'This influencing factor relates to the way we live through the activities we engage in and interests we express. In simple terms it is what we value out of life. Lifestyle is often determined by how we spend our time and money.' (knowthis.com)

It is crucial for Champion to have awareness on his intended target market so as to know the needs of the customers in their day-to-day activities. This will help Champion to realize the ways on how to create promotions and advertisements together with distributions.

Personality

'Those characteristics that account for differences among people and that are predictive of their behaviour.' (NCC Consumer Behaviour Notes, p.15-2)

Personality shapes ones' attributes and qualities that differentiate a person's perceived characteristic from a group of individuals. This is an internal influence of a person.

'Personality is the sum of sensory experiences others get from experiencing a person (i.e., how one talks, reacts). While one's personality is often interpreted by those we interact with, the person has their own vision of their personality, called Self Concept, which may or may not be the same has how others view us.' (knowthis.com)

Therefore, Champion would have to make considerations on the relevant research methods to employ so as to understand how customers stance upon themselves. Different people would like to reflect their status and classes in the society.

Perception

Is defined as, 'The process of selecting, organising, and interpreting our sensations into some meaningful whole, entity or experience.' (NCC Consumer Behaviour Notes, p.16-2)

Perception is done mainly through the five sense organs which are eyes for sight, ears for sound, tongue for taste, nose for smell and skin for touch. This is subjective as people interpret sensory inputs (stimuli) both internally and externally.

Internal factors are: Beliefs, attitudes, expectations and motives while external factors could be colour, contrast, size and positions

'Advertisers often use celebrities to endorse brands, services, organisations and causes.' The main aim is to find customers with a positive attitude towards a celebrity, hence the product. (NCC Consumer Behaviour Notes, p.17-7)

Champion must come with advertisements with the desired meanings associated with their products so as minimize the ambiguity.

Also, Champion can come with presentations of incomplete advertisements which require customers to finish it up. This will allow marketers of products to have a certain degree of customers' involvement.

However, it is essential to make sure that brand recognition and the ways of promoting cinema shows are favourable and relevant so as to target customers.

In order to navigate successfully in such an industry, Barry Champion should think how he could use the 4P's of marketing.

Pricing

Price setting has to be done with care by considering culture, lifestyle, perception and personality otherwise Champion might lose customers. Obviously, for Champion to be successful he needs to set prices which will reflect a particular customer group. This should differentiate customers.

It's important for him to come with price strategies so as to set justifiable but still profitable prices by considering the attributes given to different customers. For example payment terms before watching movies for people filled with personality should more decent compared to others.

Also, pricing discount could be thought to all the categories of customers depending on the pricing strategy used for a particular group.

Promotion

During its starting days, the new cinema could show cinemas for free that suits people with different perception, personality, culture as well as lifestyle. However, it's important for the cinema owners to come with a schedule which allows customer to decide on which movies to attend.

Later on after customers are used to, Champion could think of offering a free movie for a fourth time to a customer who has attended three movie cinemas consecutively. Also, promotions may be done through advertisements as it one of the strong communication link between buyers and sellers.

Place (Distribution)

Champion could think of having sales points for selling its movie tickets well in-advance near the places where people visit most frequently like shops, supermarkets, schools, entertainment places or even restaurants.

Product

Cinema showing falls to an entertainment industry which delivers a service. Customers would expect the products i.e. movies, to be have quality with different features and of-course they should see within the movies value for their money they paid.

Conclusion

Attitude shapes behaviour and vice versa is true. I would advice Barry Champion to employ the Consistency theories which illustrate how attitudes develop and change. It includes:

Congruity theory - use of celebrity to create positive attitude on a product that had a negative attitude.

Balance theory - person in either positive or negative relationship with persons, ideas and things.

Cognitive dissonance theory - tension a person experience before and after buying a product.

Task 2: Decision making process

Decision Making Unit (DMU) and Decision Making Process (DMP) are very crucial for Barry Champion to have sufficient information when it comes to potential and present customers' who were used to attend the cinema before it was bought by him.

DMU is a buying centre which typically includes the users, influencers, buyers, deciders and gatekeepers. These members have got a degree of influence towards the final decision to be made concerning purchases with regards to each members role required of him/her to play. This could include employees from one functional area within an organisation.

'Decision making can be defined as the process by which a course of action is selected as the solution to a specific problem.' (Principles of Management)

DMP is a series of activities mainly decisions which a consumer puts into consideration before making a purchase of say goods or services. This is also known as buying decision process.

For Barry Champion, it is important to understand what really pushes the customers towards movies or time of the day or day of a week. By knowing this, Champion is able to come with strong strategies which address the consumer interests.

Importance of decision making process

First of all, customers' decisions must be respected due to the reason that they are the ones who make the cinema business existing and going too. Champion have to understand that his cinema operations will greatly depend upon how its customers decide. Upon those decisions changes should be done to reflect what their needs and wants.

Champion should handle this with a lot of care because customers do not just make their decisions from the air; they are pushed by their inner thoughts regarding different types of movies and time allocation. This implies that, customers would only prefer things at their convenience so as to be able to act responsibly in other life matters.

Moreover, Champion has to understand that a small group within a society can have a high degree of convincing power to a large group of people. For such a case, politicians or celebrities can change completely what people thought before concerning a product. For Champion it is important for him to get along well with famous people as they play a great part towards shaping most potential customers decisions.

Furthermore, customers make their decisions with reference to the groups they belong within a society. These groups could be according to their behaviours shown. For instance, fashionable customers would be movies which reflect their lifestyle compared to the customers who are culturally immersed. Good example could Hindus who are fond of watching Indian movies and cinemas.

Gathering Information

For Champion, there are two main ways of gathering primary data:

Observation of previous customers

This is an indirect way of collecting information from customers who used to attend various cinema shows at the Plaza before Barry Champion and his colleagues took it over with the main intention of watching over those customers preferences so as to keep track of their needs and requirements. For Cinema watching, the kinds of movies and their frequencies of being watched upon will be noted. (Kotler & Keller, 2006, pg.105)

However, this is a more quantitative research technique which looks at events occurring. It generates only one response to a problem.

Focus Group

'Focus group is a gathering of six to ten people who are carefully selected based on certain demographic, psychographic, or other considerations and brought together to discuss at length various topics of interest.' (Kotler & Keller, 2006, pg.105)

This is quite the opposite as compared to observations here information (data) is collected in a direct way through customers' responses. Focus groups are the right platforms for Champion and colleagues to collect opinions and comments from both present and potential customers concerning the movies and the other related issues around cinema halls.

Therefore, decision making process of Champions' both potential customers and existing customers would help him to come with strategies which support his business operations. Also, from this Champion can introduce his do and don'ts so as to move his cinema business in the right track. It would help Champion to know about which kinds of employees are required for his business to go as planned.

Task 3: SWOT Analysis

Competitor Analysis refers to a thorough study on firm competitors which is very important towards strategic planning. (NetMBA.com, 2002-2010)

It's my belief that Barry Champion would be curious enough to gain an understanding of its most important competitors when it comes to information and they might use that information to make predictions regarding competitor behaviour.

The Goal of Competitor Analysis

First and foremost, this is concerned with knowledge of which kinds of competitors The Rural Cinema can compete with.

Then it allows a firm to have a clear understanding of its competitor's strategies. Barry Champion needs to be careful so that the competitors don't outperform him easily.

Furthermore, it alerts Barry Champion of competitors' reactions towards his actions. Who knows following a particular decision by Champion, what might his closer competitors be thinking of.

The final goal of a competitor analysis would be on how to influence the behaviour of its competitors towards the benefits The Rural Cinema itself.

The significance of competitor analysis is that, once it has been done carefully, there are greater chances for the formation of well-informed strategic decisions.

Basing on the works of Michael Porter, four (4) key aspects of a competitor may be studied:

Competitor objectives

Competitor assumptions

Competitor strategy

Competitor capabilities

However, competitor analysis will be more meaningful if Barry Champion and colleagues would first take a snapshot of its SWOT analysis. SWOT analysis looks at both the internal as well as external environment of a company. This will enable them to come with a clear set of strategies to outperform their rival competitor cinema.

Strengths

Purchasing power or ability and desire to buy more cinemas

Passion within Champion to make peoples' dream happen

Winning British Academy of Film and Television Arts (BAFTA) award which raised its position

Good reputation for having affordable prices

Weaknesses

Too much is spent on hiring new staffs to work in the cinema houses

Buying a lot of cinema houses could result to less degree of concentration to an individual cinema house

Opportunities

Maximizing its market share due to accumulation of plenty cinema in various places

The need to cater the needs of different age groups in the society

Its locations around towns make it capable of capturing more customers like tourists and workers

Threats

Technological advances with latest cinema devices

Potential competitors in the cinema industry

Customers changing tastes would require Champion to heavily rely upon expensive Research & Development (R&D)

By conducting a careful SWOT analysis, Champion would be able to understand who are his competitors and what could their possible strategies and objectives in serving the cinema industry.

Conclusion

This information/intelligence extracted from the competitor analysis would assist Champion when making his company strategies so that they overturn their primary competitors in the cinema and movies industry.

Task 4 - Marketing plan

'Marketing plan is a written document that summarizes what the marketer has learned about the marketplace and indicates how the firm plans to reach its marketing objectives.' (Kotler & Keller, 2006, pg.60)

Executive Summary

This is about Barry Champion, an enthusiastic and a happy man who owns a number of cinema houses within England. Champion owned two cinemas before he bought the third one which is located in an industrial town of Elderwood in West Yorkshire. His main goal is obviously to have as many cinema houses as possible so as to maximise his firms' growth as well as market share. He intended to install modern equipments such as a 70mm projector and sound systems, 'the till in the foyer' which calculates number of every categories among citizens attending the movies. Also, he intends to update the facilities within and around his cinema halls. Champion belief is that, if customers are satisfied with his services eventually a healthy profit in future for him.

Situational Analysis

In England cinema watching is highly rising as days go by. The market is attractive with young age as well as adults including families. For Champion things are not complicated as he managed to match with technology advancement and customer requirements.

Market Summary

Champion himself as a cinemagoer is aware of most cinemagoers likes and dislikes. So, I believed he is available with important information concerning potential customers' needs. He needs proper communication ways so that customers stay informed.

Target Market

The new Plaza cinema actually should be focusing a lot on its neighborhood residents and workers. So Champion could target the following groups as potential cinemagoers:

College students

National building society staffs

Multi-national chemical plant workers

Textile mills employees

Families

Market Needs

Champion and colleagues intend to have a range of cinema and movies. Apart from this it is up to the owners to have quality in their works which is above standards, variety cinemas rich in culture and adventures. They shouldn't forget customer service which will determine if a customer could return back to watch other cinemas or just a passer-by.

Market Demographics

Geographic

Currently, the Rural Cinema has targeted Skipton North Yorkshire and Bakewell in Derbyshire. The new cinema is in Elderwood in the West Riding of Yorkshire. All the three are in England.

However, Champion is likely to serve international customers if he uses the internet to sell on-line his movies because not every customer has time and money to make it at the cinema halls.

Demographic

There is no dominant gender in the cinema industry, it is almost possible that both males and females strike a balance. Their ages varies from children, youth and adults.

Moreover, these groups differ in their income levels which alerts Champion to have strategies such as differentiation focus for high class people not just a 'cheap and cheerful' reputation it has. Otherwise high-end customers will be lost to competitors.

Situational analysis is best illustrated by a SWOT analysis carried out:

Strengths

Purchasing power or ability and desire to buy more cinemas

Passion within Champion to make peoples' dream happen

Winning British Academy of Film and Television Arts (BAFTA) award which raised its position

Good reputation for having affordable prices

Weaknesses

Too much is spent on hiring new staffs to work in the cinema houses

Buying a lot of cinema houses could result to less degree of concentration to an individual cinema house

Opportunities

Maximizing its market share due to accumulation of plenty cinema in various places

The need to cater the needs of different age groups in the society

Its locations around towns make it capable of capturing more customers like tourists and workers

Threats

Technological advances with latest cinema devices

Potential competitors in the cinema industry

Customers changing tastes would require Champion to heavily rely upon expensive Research & Development (R&D)

Marketing Strategy

Champion must ensure that the customer segments it has created are at-least well addresses in terms of movies shown to them as well as facilities around cinema houses.

The Rural Cinema should have a mission statement which allows employees and customers to be aware of the set objectives. Once this is in their minds, customer satisfaction will be seen beyond the latter expectations.

Also, as the business progress Champion should think of how to position himself in the cinema industry. Customers these days won't care a lot about prices but will be looking if movies have value in them.

Marketing mix should be another strategy which if Champion makes a good use of them will earn a good market share. It is also known 4P's of marketing which includes:

Price - different price strategies should be used to target customers with varying income levels.

Promotion - efforts needs to be done so as to create awareness.

Place - the Rural Cinema have to open many cinema houses at different areas as it continues to grow.

Product - highly skilled cinema workers must be in place in-order to provide maximum assistance to customers so as to have a loyal customer base and trustworthy ones.

Financial Projections

Sales Forecast

The Rural Cinema sales are determined by the number of audience per cinema and how frequently in a day movies are shown.

Conclusion

However, Champion should have a more positive look because it seems they had been the 'Best Rural Cinema' when they were presented an award by the British Academy of Film and Television Arts (BAFTA).

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