Marketing and
Competition
There is no industry in existence that is able to succeed without the use of marketing. Also, all businesses need to have competition, or else they would be considered monopolies. Here are some of the marketing strategies and competition commonly seen in the film industry.
Marketing is Usually Done Through:
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Different form of media
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Partnerships with other brands or companies
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Products or events
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Word-of-mouth advertising
Different Forms of Media
In order to create "buzz"—excitement or anticipation about a product or service—movie businesses need to get many people aware of their movie and fast. This can be best done by using different forms of media. Some forms of media include:
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Television: Nearly one third of marketing budgets are spent on TV commercials
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Radio: Affordable and great for targeting a select audience
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Newspapers/Magazines: Second most popular way to advertise right after TV ads
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Internet Ads: Usually makes up 4.4% of a marketing budget
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Posters/Billboards: Great for advertising around urban areas
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Social Media: Most cost-effective way to promote movies quickly
Partnerships with Other Brands or Companies
A great way to target certain audiences is by partnering up with brands that advertise to these people. One example of this is the Macy's Thanksgiving Day Parade. Movie producers can work with Macy's to have a parade float on their movie characters. This can reach millions of kids and people to watch this parade. Another example is Happy Meal toys. By working with McDonalds, movie producers can distribute toys that advertise their movie.​
Competition
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When it comes to success, business will do anything to be the best. In the movie industry, brands will compete for just about anything, including best advertisements, best actors/actresses, best products, and even best amusement park. Below you can some of the top competitors:
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Products or Events
Word-of-Mouth Advertising
After a movie has gained popularity, it is time to create merchandise and organize fan events. Products like clothing, posters, and toys are sure to sell. And we can't forget about fan events. Even the largest movie franchises hold fan events where people can celebrate the movies they most love.
This could be one of the most important forms of advertising and is one that movie producers can't fully control. Word-of-Mouth advertising is when people share their opinions on a movie with each other. Best part? It is completely free. People can put up reviews on what they about a movie, but sometimes, negative reviews can really destroy a movie's chances of success.