Hoyts Marketing Strategy

Hoyts Marketing Strategy
INTRODUCTION
The success of a company is based on its marketing strategy. The secret behind the achievement of large corporations around the world is having the best team in implementing and making the plan of the firm. In establishing a business, efficient marketing strategy  is the basic in a business because it integrates the objectives, goal, policies and action  a firm. To be able to attract customers attention to compete with the growing market, evolving technologies and trends in culture such as the influence of social media marketing communities; firms should be able to create the right, proper and specific strategy for the business.  
Hoyts Cinema operates more than 400 movie theaters around Australia, making it one of the top cinema chains in the country. Learning the market strategy of the company will aid in understanding the strategies that the company had used.
MARKET STRATEGY
Market strategies are important in managing the business because it aids in marketing the products or services of the firm. It is different from advertisement because ads are means in which the market strategy is used (gaebler.com). Marketing strategies serves as the plans of the company in a specific period. It involves the analyzing in the external and internal environment of the business which consist the SWOT or strength, weakness, opportunities and threat analysis. The internal factors consist of strategic constraints, marketing mix and performance analysis. An external factor consists of economic condition, culture, political, target market analysis, customer analysis, competitor analysis, and evaluation of technological elements. These factors can have big impact on the implementation of business strategies and success of the company.
HOYTS PROFILE
Hoyts started as a small business but it has evolved through the years and is now a leading firm in the entertainment industry. Established in 2001, Hoyts Distribution Pty Ltd has become an independent distributor in New Zealand and Australia.
Hoyts Cinema is owned by the Hoyts Group, an Australian company that consists of Hoyts Distribution, Val Morgan and Hoyts exhibition, is also a subsidiary of Pacific Equity Partners a Sydney Based private equity company. Of all Hoyts Cinemas, Hoyts Exhibition is known as Australia's leading theater because of the advance or modern technology they use. The company manages cinemas in more than 40 places in Australia. The group had planned to expand in New Zealand and they purchase Barrie Everard's Berkeley Cinema Group. Recently, the company opened 10 new cinemas across New Zealand. Val Morgan, one of the leading supplier of screen advertising and independent cinemas in Australia is instrumental in this success since the advertising agency allowed the company to garner 95% market share. Hoyts Distribution act as the independent distributor of the group; they are responsible for the purchase of rights and manage the distribution of independent films through television, home entertainment in Australia. Last year the group had successfully purchased the Australian Multiplex Cinemas.
The success of the company can be traced back to its efficient marketing strategy which in turn was based on the company`s thorough understanding of the market`s behavior. Through such strategies, the company has continually met its goals and have even exceeded it in some instances, thereby allowing them to expand unprecedentedly over the years.
INDUSTRY ANALYSIS
The company is one of the most successful in the industry because of its new technology that they offer in watching our favorite movies and films. Today many cinema companies are upgrading the materials that they are using. Example is the digital cinema that most in the cinema industry are using. Digital cinema which is the tangible part of cinema composed of Digital Camera, Processing Tools, Content Distribution, Server/Theatre Management and Digital Projectors. This are the materials that cinemas used in order o give
the customers a good view of the film. The intangible components of cinema consist of (Young, A.)  
production and technology (which consisted of research and development, redesign and engineering of the cinema structures, quality control systems, and patents to the technologies being developed by the firm), Human Resource (continuous employee training, promoting learning by practice and other activities that enhance job satisfaction and employee motivation), and the rewarding of brilliant. Other aspects focused on by the group included marketing and sales (the conducting of market research, continuous advertising and branding, as well as creating good will).
Moreover, the company has continually strived to improve their technology to be able to compete with other competitors like companies that are selling DVD and large and famous cinemas company like IMAX.
TARGET MARKET STRATEGY
Hoyts Cinema is aiming to enhance and make sure that the customers are happy with their services. The company targets young, adults and seniors that love to watch movies. With the competitors around the company had given discounts to attract customers.  
Through the help of Arts Alliance Media, Christie Digital Systems and Doremi Cinema, Hoyts Cinema is transitioning towards a digital cinema, particularly those in the Australian and New Zealand branches. The plan is part of the firm`s relationship with Digital Cinema Implementation Partners Australia group (Digital cinema report).  
Unlike other cinema companies, Hoyts' believes that most customers are not sensitive to price, hence they have used a different marketing strategy for the business. Hoyts recently made an experiment wherein they provided discounts for the people who are watching during the opening week of a major title at a number of competitive locations. The company discovered that audiences were attracted to locations with better quality (in terms of sound, comfort, etc.) to see the movie, rather than those with the lowest price. In particular, Hoyts found that in areas wherein a competing cinema has a mega screen, the discount approach was ineffective. Hence, it can be said that customers were prepared to pay more for a better quality cinema experience. (Jones, R.)
HOYTS MARKET STRATEGY
Market strategies are important in managing the business because it aids in marketing the products or services of the firm. It is different from advertisement because ads are means in which the market strategy is used. Marketing strategies serves as the plans of the company in a specific period. It involves the analyzing in the external and internal environment of the business which consist the SWOT or strength, weakness, opportunities and threat analysis. Market Strategy are the fundamental of marketing plan, it involves the market objectives, tactical plan for a specific period and strategic plan that identify the challenging goals, marketing mix to attain the goals, detail implementation and business alternatives.
The seven P's in the market strategy are the basis in building the internal goals of the company. The seven P's of Hoyts cinema includes: Product - Product is the most important in the business. Product decisions entail about the packaging, appearance, warranty, function, service and others(Kotelnikov,V.). It emphasize on the improvement, new features, repositioning and changing the products. Hoyts is one of the famous cinemas in Australia. They offer the best and quality cinema for the customers. They feature different kind of cinema to make sure that the consumers will enjoy and have a relaxing time during their time in the cinema. Features of Hoyts Cinema (Hoyts) La Premier a" it is a luxury cinema with a prime viewing position. The ticket holder can have an access on the exclusive bar and lounge that they can choose from the variety of foods and drinks. Foods can be delivered to the customers during the show. Director's Suite a" Have a similarity with the la premier except that it is a separate cinema. Bean Bag Cinema a" The seating is different with the typical cinema. The seats are oversized bean bag. The customers can relax and chill out. Xtremescreen a" The customers can view the movie in a big cinema with the best sound. Hoyts Imax a" The customers can watch their favorite movie in 3d.
Other new products which are being used by the Hoyts Cinema involved new (and probably the best technologies) for the comfort of the customers not only included a better presentation on the big screen. Corporate events and special meeting can also be held inside the cinema (Hoyts show business), thanks to the cinema`s Plug and Play capabilities (where customers need only plug a wire to their laptops and the meeting/gathering can already start) which uses the latest audio-visual technology . It includes a lectern, a microphone, a cinema screen, a digital projector, a surround sound system and of course, an in-house technician. For companies which need additional equipments, the Christie 2k digital projection devices are on hire. Other equipments include DVD Players, digital 5.1 audio, and  various microphone solutions (lapel, wireless, on stand).
Branding. In terms of branding opportunities, the cinema uses interactive and static foyer displays, product sampling, car displays, cinema seat cup holders and seat backs, on-screen content and many others.
Business Events. Across Australia Hoyts can be able to assist other business to have their...