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Using Advertising And Price To Mitigate Losses In A Product Harm Crisis Pestel Analysis Case Study Help

Political/Legal Factors:

Using Advertising And Price To Mitigate Losses In A Product Harm Crisis Pestel Analysis Pestel Analysis Case Study HelpAs far as the legal and political factors are worried, the whole film market is affected by the threat of piracy which might possibly produce a negative effect on the general profits of the film market. Having said that, copyright laws use security to the movie industry in terms of preventing piracy.

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

Economic Factors:

It needs to be noted that movies become part of the show business while expense on any form of entertainment is essentially an optional expense which is more or a luxury rather than a necessity. However, we look at the contrast of the GDP pattern with the pattern in demand for movies, we can see that the two are not straight proportional recommending that any modification in GDP development does not always produce a change in this specific entertainment.

Social Factors:

As far as the social-cultural factors are concerned, it needs to be kept in mind that the 70% of IMAX audiences are in between the ages of 19 and 56 which enables a great deal of diversity when it concerns opting for a particular sector. Furthermore with bulk of the audiences being college or university students with an average home earnings of $70,000, the purchasing power of the target market reveals possibilities of increasing viewership.

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

Technological Factors:

While technological aspects have actually contributed towards lowering the cost of entertainment with the introduction of multimedia, truth based home entertainment, home 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 attractive than viewing movies in your home. In addition, while innovations have actually contributed towards the threat of 'piracy' they have also contributed towards ease of keeping and distributing films.