Asked by Miriam Petit on Jun 05, 2024
Verified
How do movie studios use marketing research?
Marketing Research
The process of gathering, analyzing, and interpreting information about a market, including potential customers and competitors.
- Appreciate the application of marketing research in real-world scenarios, including the entertainment industry and social media marketing.
Verified Answer
DS
DR.SEEMA SHARMAJun 07, 2024
Final Answer :
Studios producing and marketing films emphasize marketing research at different stages in the motion picture development process. Concept testing and script assessment are techniques used to assess early ideas for proposed new films. Studios conduct test screenings to critique a movie's title, plot, characters, music, and ending as well as the marketing program (posters, trailers, etc.). They also use tracking studies to ask prospective moviegoers in the target audience three key questions: (1) Are you aware of the film? (2) Are you interested in seeing the film? And (3) Will you see the film? Studios also use "social listening" to understand what potential moviegoers are saying on Twitter, Facebook, and YouTube. Studios then use the data collected to monitor a promotional campaign and to forecast the movie's opening weekend box-office sales. If necessary, they will run last-minute ads to increase awareness and interest for the film. These research activities are designed to reduce uncertainty and to improve marketing decisions.
Learning Objectives
- Appreciate the application of marketing research in real-world scenarios, including the entertainment industry and social media marketing.
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