New Moon is a private film production company which is based in Soho, London. It is created in the year 1996 by the founder’s name Caroline Rowland. In 2005 one of the employee from the new moon company produced and wrote a film which helped to win the bid for the London Summer Olympics 2012. The film production company also produces and develops both documentary and fictional, educational and sports films (Aulet, 2014). The entrepreneur starts a new business plan in India because of every year 1000 approx film produced in India. For the past one decade, the film production in India has gone to new heights. The Indian film industry is basically known as Bollywood, it is the biggest contributor to the Indian industry in terms of revenue, follows by the Bengali film industry, Bhojpuri, Marathi, and Gujarati. It has the biggest entertainment industry in the India for a number of films produced and its theatrical admissions (around 4 billion). In terms of revenue the Indian industry contributes to being smaller in size mainly due to the low variety of tickets. Moreover, its rising competition from the Hollywood films continued to affect it (Banks, 2013).
In India there are many international productions are produced films such as Disney, Fox, Dreamworks and Warner Bros. While on the other hand, the Indian film industry has continued to rule, mostly in the southwest part of the Asia. From 2010 the growth of Indian multiplexes has mostly improved for the audiences of that country and has to increase per ticket costs. In 2016 the number of multiplex screens in India is expected to 2100 and after 8 years the number of multiplexes should go about 2600.The revenue of the theatres constitutes around 65% overall (Barnes, 2016). In 2010 the trend for the pre-satellite rights and home video rights gained momentum. In 2012 films are due to release witnessing negotiation for satellite rights and also home video rights. For the past four years, the online rights are much increased after the introduction of the 4th generation service of the Indian telecom company. The film production department has the best opportunity for their films through online with the help of their official sites. In India, a Bollywood film takes 6months for planning and 18 months in execution compared to the Hollywood film takes more time to execute, the gap is still significant. As per Burrow, Kleindl and Becraft (2017), Indian filmmakers say that there is no problem, what they lose out on planning and they make up their time of their execution. This project includes the plan of new moon production to expand in India and its various operations that will undertake further it will include micro and micro analysis of the industry, as well as the company, tends to join them in a relationship with a motive to find in sustainability.
Since the entrepreneur creation in 1996, New moon has been a private film production company based in Soho, London. Caroline Rowland is the company founder. She is an English and journalism of Rhodes University (United Kingdom) and also serves as a trustee of the Rhodes University trust. The New Moon production company was set up by producer Amada Partridge (Clark, 2016). Stephen Macmillan is the Director and Cameraman of the Film production company. The company has worked with many countries, corporate and brands to tell their films stories to the audiences and the globe. New moon to produce the films tends to tell their London Olympic bid story. The company has helped KPMG secure both the BBC and Unilever audit contracts, helped Dubai to secure the rights of the sponsorships to channel 4 racing. To host the world expo has also supported the campaign after company success with the 2012 London Olympic bid, and thereafter. As stated by Delaney (2013), in the year 2007 company started a project that is Sochi 2014 and 2011 for the PyeongChang 2018 Olympic bids. And also the company worked on their upcoming projects that are FIFA WORLD CUP Qatar 2022, Doha 2019 IAAF World Championship, Lima 2019 Pan American Games bids.
The production company also produces films for many other cities, countries, federations, brands, and individuals. The enterprise is also doing the ‘go to’ campaign storyteller and also became the first film production company to become the custodian of the stories for the foundations and stories. The entrepreneur also received widespread critical acclaim for doing the films for NGOs, including UNICEF, Beyond sport and sported and have consistently achieved increased awareness and positive engagement amongst the audiences of the whole world (Ebert and Griffin, 2017). The enterprise also provides documentaries and also many varieties as well as creates and produces broadcast identities, sponsorships indents, and on-screen graphics. The New Moon Company also develops dramas for small screens and television as well as doing advertiser programming for funding. It provides talent access, casting database, production service which includes location scouting, contract, legal services, logistics, English speaking crews, technical support, offline and online editing, budgeting and scheduling. As opined by Evans (2013), the company also produces films and videos for various uses, including business television, public relations, internal communications, branding and marketing, award ceremonies, events, fundraising and also bids. The New Moon production company also offers TV admin service, including BACC clearances, music, and image licensing, talent buyouts, securing BACC clearances, negotiating repeat fees, post-production management, holding archive material and taking care of transmission.
One of the company biggest achievements is to re-opening of St Pancras station, because of re-interpretation of WH AUDEN’s Nightmail was commissioned by Eurostar. During the presence of the Majesty Queen Elizabeth II as well as the prime minister and dignitaries from across the world, the iconic film was premiered. In 2012 they released comedy films and adventure films. New Moon Films decided on a documentary approach filming real people using ‘The Shuttle’. Parents, Grandmothers, Group of friends and businessmen talked honestly and excitedly for their pioneering trips under the English channel (Golann, 2016). After that, the commercial film was a huge success. The Guardian newspaper mentioned that commercial film was a super hit. In 2013 the company was commissioned by BBC Scotland and the Scottish film production fund to produce a short drama of 20-minutes, 35mm Taran short directed by Jim Shields, a Television School graduate and a fellow National Film. On BBC2 the film was subsequently screened. For the past 15 years the film production company, a full service film and print experience. The production company is very much expertise for producing films in Barcelona such as Ibiza, Seville, Marseille, Paris and Cape Town. For the videography under the new moon umbrella, the team that provides all the video content for the media. One of the largest location companies in Spain from the pre-production to post-production with exclusivity for some of the best location for filming in demand.
For clients, all of this helps to be more budget efficient and to provide faster turnaround. The company has a multilingual team to assists easy communications, in translation, no information would be lost. The New Moon Production company has only one motto that is We Believe In Work By Passion. It is not just a company, it is a team that understands the future of production. In 2015the Enterprise already created a new presentation for the bid upcoming Youth Olympic Games which is going to be likely Lausanne. The company also started a new TV and digital campaign for EWOS to encourage their greater participation. In 2000 New Moon wins for the very first time industry awards for Blue Christmas Crisis. In the same year, New Moon Production Company released his official of the 2012 Olympic Games. In 2014 National Academy Of Arts and Science nominated Emmy for the first time (Goodman, 2015).
The following parts of the pest analysis are structured into many ways that are definition, a short example, Interpretation, the usage and a quick summary. The definition of the pest analysis is all the combination of the first letters that is Political, Economic, Socio-cultural and Technologies.
According to Guest (2017), political factor is an activity that must be related to the central government policy of that country. It also very much depends on the economy. Political factor is the thing that most of the business will keep a watchful eye, for example, regulatory shifts or new legislation, which could very much effect on their business. Political factors which include tariffs, trade registration, labour law and tax policy.Health, education are included in these factors. In India,political difference is the main obstacle for the film production company. Without help of political party or a political member, such organize cannot be opened. In 2017 the Indian government said that instead of 12 percent tax per ticket now it will charge 28 percent tax per ticket. In the country, there are unexpected delays, labour unrest, interruption of normal and regular business due to political effect, bureaucratic inefficiency, corruption, legal disputes or delay due to suppliers and local partners, pricing, import, tax issues (Harris, 2014).
The factors which includes rates, interest rate and economic growth.The major impacts that how to operate businesses and how to make decisions (Hughes, 2015). In India, cost advantage offer will be given to the employee and also the overall production cost. Economic growth in India is far better than the other Asian countries.
Social factors are the most important factors for the health consciousness, cultural aspect, population growth and emphasize safety. For the past decades, there have been a lot of changes for the film promotion. Bollywood films are now starting full use of the social networking. According to James (2015), the use of the various diversified channels rages right from the trailer launching online to motion picture and start posting its photos in their different networking photos. Now it became a trend for the Bollywood films, for easy accessibility, user-friendliness. Before a film release, an official community was set up by the production house.
Technologies factors include environmental and ecological aspects, technological change, R&D activity, automation. It includes how to give a minimum or normal efficient production level and also outsourcing stations level decisions. Furthermore, costs and quality can affect when technological shift and last but not least it can lead to innovation (Jones, 2015). In India nowadays technology is an integral part of the film. The technological growth today has enabled a lot of sense to filming a film with help of VFX, 3D and 4D devices. Nowadays it is possible for the audience to watch the film wherever they want with the help of online channels.
According to Kerr (2014), the strategic decision is the most important part of the analysis. It is an essential component of corporate strategy. There are several international film production companies in India such as Fox star studios, Disney film production etc. And also there are several Indian film production companies also such as Yash Raj Flims, Tips Industries Limited, Amir Khan Productions, Hari Om Productions, Dharma Productions, UTV Motions pictures, Sahara production company, Green Tea Entertainment house, Ajay Devgan films, Red Chillies Entertainment, Phantom Flims , Balaji Motion Pictures, Excel entertainment. For a new production company, a powerful strategy is must required. The company needs to know about the market share of the other film production companies as well. For a new film production company, the price of the products should be reduced compared to the other film production companies (Mino, 2017). The production company should try a different approach because in India the film production market is a very a competitive one.
As per Pakroo and Stewart (2016), the organization must use a social media platform for distribution. To increase the value of customer the company should produce a new scheme or opportunities. A new enterprise should know what the market segment is for your competitors. Further, knowledge about the competitors will enable to develop competitive advantage factors for the new venture. The company should also know what are the quality of the product, pricing and how they promoting their products. Once you have got all those information about your competitors, you are ready to analyze it. For a new production company, there are four factors that are extensive distribution, customer focus, economies of scale and product innovation is the key to success. A company should also know that what are the reason behind that some competitors are struggling with their products and also the other hand some competitors are doing very good business with their products. With the four factors that are extensive distribution, customer focus, economies of scale and product innovation (Palffy, 2015). In India, there are no barriers to investment, and the potential for their future growth is very high. The number of multiplexes was built day by day across all the cities in India. Therefore the numbers of tickets were increased day by day. And also the prices of the tickets are less due to a large number of multiplexes.
As stated by Peng (2017), when a foreign company moves to the Indian market, the new company must know how to deal with that markets and the culture. Further, knowledge about the history of the country shall also help the management to integrate STP models and enhance business operations. A company representative communicates with the society in a proper way and a proper manner with the appropriate respects. In India, culture means religion, language, and norms. In India there are different cultures and also there are different food and different habits. For an example, many Europeans and Americans eat a lot of beef but in India, the beef is strictly prohibited for Hindus. Muslims are not allowed to eat pork. In India, culture differs food widely, and they eat food directly with the hands but in other cultures, people use a wooden stick or steel spoon. A new company must have local representatives to know the country law and legal information before it comes to legal bindings, and also a navigator from locals to navigate the company in a proper way. A new enterprise or organization follows some procedure to expand the business from one country to another country. And an unknown market’s are very riskier (Pijl et al., 2016). The company entry is also a vital process. There would lots of questions regarding their cultural differences, religions would come up. There are lots of things to find out more about that country. It can be done with concerning primary, secondary data through researching.
In India there are total 10 languages films are made and these are Hindi, Bengali, Marathi, Gujarati, Kannada, Malayalam, Tamil, Telegu, Oriya, Bhojpuri. Understanding the new country culture a company must find out a way to reach otherwise the location is different but the demographic should be same. For a new company in a different country, a new approach may be needed to make that product. And the potential of the foreign market expectations. After analyzing the country including their personal and professional customs, they should handle it in a proper way (Rue, 2014). This is also a great signal from a great leader and customers in the market of the new country. A new film production company must know that, has any of the new company tried to enter this market before or they are failed to do so. When a new company is creating that brand’s in the country make sure the culture does not effect on this. A new company needs to deliberate about the actual economic potential of the market .In the film business, India is the best-chosen country because compare to other Asian countries India has the highest number of multiplexes. In India, the success ratio of any films is very high at the box office. Each and every year in India is losing 40% of its revenue through piracy. Copywriting of any films are very common in India, each and every part of the country is so widespread it is also can be called as a small-scale industry. Copies of the same day released film are selling nearby broker or agencies. Most of the South Asian countries have the same problem (Schmidt and Cohen, 2014).
As compared to other industry, the film industry generates revenue of 45%. The new moon production company is always looking to expand their company in an optimistic way. After Hollywood India have the fastest growing film markets around the world. According to Starkman, Hamilton and Chittum (2015), for a film production company, some experts are needed from India. In India, Disney Production Company first produced a film with jointly by Red Chillies Entertainment which is a full-length animation movie. The film did well at the box office in the year of 2009.After that Warner Bros and Ramesh and Rohan Sippy, film production company released a film in the year of 2010.The film did dramatically well at the box office and after that, the share market of the Warner Bros and Ramesh and Rohan Sippy are going to high. Disney also ties up with the Yash Raj for 4 films with the Tamil megastar Kamal Hassan.Bollywood has a legal industry but several banks declined loans to the producers in India to finance their films. After that, there is so many international film producing company are coming to invest the money in films. In 2017 there is almost 400 production house in India, and there are only 32 of them are registered.
According to Stephany (2015), the Indian government which is enjoying its incredible entertainment tax from their respective consumer. In India, it is the very easy format for an individual production house. In a single unit, every film has been produced. At a time there-there is producing only 1 film. And the next production of the film is made after the previous production of the film released the first copy. The capital investment for the film production is provided by the distributor who would pay 50% of the film production cost. Thereby, leaving the production company to get rest of investment from other film related sectors. Here the other means includes an investment of the production company.
As stayed by Stuchbury (2017), a good strategy for setting up any kind of business is very important, whether it is a restaurant or any other commercial start up. A business strategy can be well understood by using stories as definition and communication. Such stories as strategies can include the IMO factors. Stories as strategy helps a customer define their problem better which can further help in coming to business solutions, offers, factors that are ideal for solutions. Flexible strategies should make for successful problem solutions. Business strategy is like business planning. The well prepared the plan is the better the business runs.
In all cases there are stories. Like a purchase that is being made or the customer buying your product or service. A story can also be how a customer found your store or restaurant or your website; if that was through an app, or a recommendation of a friend or through an advertisement. The IMO strategy means Identity, Market and Offering (services or products). These are important aspects of a business and they cannot be separated as they are interrelated. This helps to promote the business successfully (Surdak, 2014).
Business Identity: Every business has its own identity. Example what are the goals, the strengths or weaknesses, how it is competent and how does it differ from other businesses. It focuses on what you expect from your business. According to Tieck (2014), some business can develop their own where as other business can require working capital. Some can be about restaurants and others about other passions you may have. They differ and hence your identity of your business could be unique.
The Market: The identity has a great influence of the choices your make for market targeting. The business should have its own specific target markets. Costing should be made in keeping the market targeting in mind where the pricing should be reasonable. The prices shouldn’t be so high that the customers are unable to purchase products or services (Williams and Verney, 2013).
Offering: The services or the product offered by a business is known as the offering. The identity of the business impacts the choice of market which further impacts the choice of product. The choice of the products impacts the choice of the market. In accordance to Williams (2014), it can be stated that they are interrelated. Focus is required to interconnect and efficiently carry out the choices as key target customers and the business identity. All these three aspects work as one whole as IMO factor. They are vital aspects and are very much required for successful business.
There many various important key factors that help in the financial marketing of a business. They are-
There are other ways of identifying marketing strategy of business such as:
Another important factors deals with understanding of your customers and also learning from your own competition. It is vital to see what the customer needs, wants and thinks regarding your business products or services. They may have certain needs or wants of certain specific products or services. What they think about your business is also vital. They may have problems with the products or services. Their problems are also to be considered and effectively solved. Learning from competitors can be done by noticing how competitors do their business. Example, how does the competitors approach the market, what are their weaknesses and strengths, how can you improve upon the competition’s approach, etc (Zsolnai, 2013).
Understanding your business is very important. The restaurant business is about meals and many times about occasions. As per convenience there are drive-through fast food centres; others such as Starbucks which is more about luxury than just coffee. In some business it is more about a place to work or to meet or for social gathering. Different businesses have their own specific nature or identity. They have their own goals to meet or what they exactly desire in a marketplace. The solution to the problems of your business should always match the problem. It should show the difference about what once company has to offer from the other when compared. To make restaurant story the idea should be to focus on fine food credibility, how the team and the owners of the restaurant can provide fine food credibility. This could lead us back to the IMO factor or how it is different or simply better than the other competitors business.
Conclusion
Keeping simple strategies are the best. Strategies that seem obvious after implementation should be carried forward. Leaning or taking up strategies that have worked successfully should be fully utilised. Invest in the business that you want or like and accordingly make dealings, offers, etc. These help on creating strategies that are a combination of good target, offering, and identity. Or stories that tell about what one needs or wants something.
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