Recommendation For strength of TGV Cinema Essay
Recommendation For strength of TGV Cinema
TGV cinema can take the advantage of strong financial position to make improvement as old fashion, traditional or manually operation will result in business being backward in the competitive edge. They should hire more workers to ensure that the system or program work more efficiently. Besides, it can do more promotions like offer various special packages. All these can bring their customers` satisfaction level to a higher level by utilize the good financial condition. TGV cinema has TGV cinema has the strength on providing new-brand experience with reasonable price. It has introduced featuring funky bean bags that allow you to relax and enjoy movies in unsurpassed comfort. So, it can utilize this advantage to attract more movie-goers by doing some advertisement on billboards or newspapers to enable the patrons know more about their services and facilities. Since 28 June 2013, TGV cinemas become fully digitised following the successful installation of 164 Christie® DLP Digital Cinema® CP2220 projectors.
Thus, TGV Cinema should utilize their digital cinemas in redefining cinematic experience for cinema-goers. This years, 3D movies are becoming a preferred option by movie-goers especially when available and at the same time the cinema advertising market is also largely untapped in Malaysia. So if there are 3D movies, why not TGV cinemas produce more enticing, interactive and creative advertisements through 3D advertisements. Recently, apart from hall bookings, TGV Cinemas also provides added services to complement the corporate and private functions such as customised menu to suit catering needs, customised party packs, and entertainment solutions such as magic shows, clowns, face painting and many more. Thus, to utilize this services, the Marketing Department should ensure the advertisement jobs are done well and information about this services is well distributed to the public so that they know about this existing services clearly and this services will become their first choice whenever they want to organize some functions.
3.1 Utilizing the identified opportunities
Based on the SWOT analysis performed, Malaysia has lesser cinema compared to other countries. As number of cinema-goers is increasing, cinema companies are competing in satisfying customers’ needs. Thus, TGV cinema can take this opportunity to expand their business by opening more branches over the country to serve people`s growing needs. This is a good opportunity for TGV cinema to increase their recognition in other countries and also improve the access to financial resources. TGV Cinema has developed a partnership with IMAX Corporation when they bring The IMAX Experience to audiences across Malaysia. As we know that IMAX is an innovator in entertainment technology, combines proprietary software, architecture and equipment, thus TGV Cinema should utilize this partnership to develop a good and trustworthy business relationship with them.
The Chief Executive Officer and Managing Directors should also keep communicate with them to show interesting with their new products and come up with strategic planning that benefits both the companies. Based on the survey done by students from HELP University, Liew Chee Kit, Lee Weng Chuan on 2012, Hollywood film had been well dominating the movie business not only in Malaysia but globally as well. Thus, TGV cinema should utilize this opportunity to screening more upcoming Hollywood blockbusters to increase its number of customers. There are highlights of the 2015 movie season as it is filled with follow-ups to fan favourite blockbusters and a few re-imaginings of iconic tales such as Cinderella, The Avengers 2, Terminator 5, James Bond 24, and Star Wars: Episode VII and many others anticipating movies.
3.2 Overcome the identified weakness
One of the weakness of TGV is ease of navigation. Nowadays, internet are very convenience and people are using it mainly for everything. However, not all of the internet users have the skill to use it well. Therefore, the information included in the webpage of TGV should arrange nicely and provide some basic guidelines to the users. Furthermore, TGV’s website also should provide all the relevant information in the hyperlink directly so that the users would not need to take extra step to obtain their information. These convenience will definitely attract more customer and maximize the profit of TGV. Besides, TGV should allow customers to enjoy more benefits and convenient by offering services such as launching a co-branded credit card. By launching this type of credit card, TGV can offers some discount at the same time to the customers who use credit card during transactions.
This will allow them to enjoy fantastic movies at TGV by using lesser money. With this concept, customers are definitely attracted by it. Lastly, the branches of TGV cinemas in Malaysia are lesser than its biggest competitor, GSC. This is also the weakness of TGV. Therefore, TGV should open up more branches in Malaysia. This will not only become a threat to other competitors but also leave a good image to the consumers. This is because people will recognise TGV easily when they sees TGV branches throughout the country whenever they go.
3.2 Overcome the identified threats
Firstly, the introduction of GST at the rate of 6% is one of the threat to TGV. It will definitely affect every aspect of the business including TGV cinemas. One of the reason is the willingness of the consumers to spend money on watching movies in TGV cinemas is being affected. This will cause the reduction of customers of TGV cinemas. Therefore, we suggested that TGV should reduce the cost of the tickets for every movie. It also should have some special promotions or packages, such as offering a free combo popcorns for purchasing 5 tickets at once for a particular movie. As there are many existing competitors which become threats for TGV Cinema, thus they should develop a sustainable relationship with their customers and keep communicate with their customers by receiving sufficiently feedbacks on their services.
This process can be progressed through Facebook as most of the people now have their own Facebook account. This process can help the company to understand their customers` demand, continually to come up with new plans that satisfy and fulfil their customers` desire and develop a competitive advantage in the industry. As the existent of DVD store such as Speedy Video Distributors Sdn. Bhd, online movies or illegal websites that provide the downloading of movies and home theatre will threaten TGV cinemas, they can choose to offer lower price of tickets to overcome this problem. TGV can also promote their facilities which are easily found or enjoy only in TGV cinemas through advertisements.