Marketing In An Age Of Diversity Pestel Analysis Case Study Help

Political/Legal Factors:

Marketing In An Age Of Diversity Pestel Analysis Pestel Analysis Case Study HelpAs far as the political and legal factors are concerned, the whole film industry is affected by the threat of piracy which could possibly bring about a negative impact on the total profits of the film market. Having stated that, copyright laws offer security to the film industry in regards to preventing piracy.

While the political and legal environment uses protection to movie makers, globalization and development of technological elements have actually increased legal obstacles such as ease of piracy and breaking intellectual property rights.

Economic Factors:

It should be kept in mind that movies belong to the show business while expenditure on any form of home entertainment is basically an optional cost which is more or a high-end instead of a need. Nevertheless, we look at the contrast of the GDP trend with the pattern in demand for movies, we can see that the two are not directly proportional suggesting that any modification in GDP growth does not necessarily bring about a modification in this specific home entertainment.

Social Factors:

As far as the social-cultural factors are concerned, it needs to be kept in mind that the 70% of IMAX viewers are between the ages of 19 and 56 which permits a great deal of variety when it comes to selecting a specific section. In addition with majority of the audiences being college or university students with a typical household income of $70,000, the buying power of the target audience shows possibilities of increasing viewership.

With elements such as 'parents showing an interest in their children's option of entertainment' and 'greater buying power in families' due to both parents contributing towards the family income, we can see that the entertainment service has a lot of potential for market players.

Technological Factors:

While technological aspects have contributed towards decreasing the expense of home entertainment with the introduction of multimedia, reality based entertainment, home theatres, cable television networks, the pressure on theatres has increased in regard to making the theatre experience richer for customers in order to make it more attractive than seeing motion pictures in the house. Additionally, while innovations have contributed towards the danger of 'piracy' they have actually also contributed towards ease of keeping and dispersing films.