WhatsApp

Stanford University Implementing Fasb Statements 116 And 117 Pestel Analysis Case Study Help

Political/Legal Factors:

Stanford University Implementing Fasb Statements 116 And 117 Pestel Analysis Pestel Analysis Case Study HelpAs far as the political and legal elements are concerned, the whole movie market is affected by the hazard of piracy which might potentially cause an unfavorable influence on the total earnings of the movie industry. Having said that, copyright laws provide defense to the film industry in regards to preventing piracy.

While the legal and political environment offers defense to movie makers, globalization and improvement of technological aspects have increased legal challenges such as ease of piracy and violating intellectual property rights.

Economic Factors:

It needs to be noted that films are part of the show business while expenditure on any type of entertainment is generally an optional cost which is more or a luxury rather than a necessity. However, we look at the comparison of the GDP pattern with the pattern in demand for motion pictures, we can see that the two are not straight proportional suggesting that any modification in GDP development does not necessarily cause a change in this particular entertainment.

Social Factors:

As far as the social-cultural factors are concerned, it should be kept in mind that the 70% of IMAX audiences are between the ages of 19 and 56 which allows a lot of variety when it comes to opting for a particular section. Additionally with majority of the viewers being college or university students with a typical home income of $70,000, the acquiring power of the target market shows possibilities of increasing viewership.

With aspects such as 'moms and dads showing an interest in their kids's choice of entertainment' and 'higher purchasing power in families' due to both moms and dads contributing towards the family income, we can see that the home entertainment organisation has a great deal of capacity for market players.

Technological Factors:

While technological elements have contributed towards lowering the expense of entertainment with the intro of multimedia, reality based entertainment, house theatres, cable television networks, the pressure on theatres has increased in term of making the theatre experience richer for consumers in order to make it more appealing than viewing movies at home. Furthermore, while developments have contributed towards the risk of 'piracy' they have likewise contributed towards ease of saving and dispersing movies.