Published on March 15, 2014
How Cinemark can stay a step ahead by doing the unexpected By: Susanna Romig Concession Stand Prices
Table of Contents The Problem Customer and Theater Options Customer Alternatives Theater Alternatives Research Recommendations/Schedule Cost and Resources Qualifications Conclusion Works Cited
The Problem Main source of profit is concession sales Approximately every 1 in 3 customers purchase concessions Customers choosing other alternatives
Customer and Theater Options Customer Alternatives Abstain Sneak in Theater Alternatives Happy Meals (toy included) Certain bag restrictions Smaller sizes at lower prices
Research "Customer sues over high priced concessions" 2013 Cinemark financial statements Custom built survey with the following 3 questions:Abouthowoftendo yougo to the movies? Abouthowoftendo youbuy concessions atthe theater? Ifconcessions costless, howlikely wouldyoube to purchase them? 2-3timesamonth EveryTime VeryLikely Onceamonth Occasionally MostLikely Onceamonth Occasionally VeryLikely Onceamonth EveryTime VeryLikely Onceamonth Occasionally VeryLikely Onceevery3months Occasionally MostLikely Onceevery3months Occasionally VeryLikely Onceevery3months Never VeryLikely Notatall Never Notatalllikely Onceevery3months Mostofthetime MostLikely Morethanonceaweek Mostofthetime VeryLikely Onceevery6months Occasionally MostLikely Onceevery3months Mostofthetime VeryLikely 2-3timesamonth EveryTime VeryLikely Onceevery6months Never VeryLikely Onceayear EveryTime VeryLikely
Recommendations/Schedule Large scale survey Given to Cinemark customers Trial run 5-10 theaters with low concession profits 6-month time period Daily records kept at theaters Monthly analysis of sales
Costs and Resources Printing 16 surveys at 3 pages a piece Time is money 18 hours of labor Library databases Company connections Public financial statements
Qualifications Future accountant Avid movie goer Wife of a theater general manager
Conclusion Lowering concession prices will lead to: Increase in sales leading to larger profits Positive name recognition Keeping prices the same or raising them A decrease in customer purchases An increase in customer complaints Bad publicity
Works Cited Cinemark Holdings, Inc. 2013 Annual Report. Plano, TX: Cinemark, 2013. Financial Reports. 28 Feb. 2014. Web. 28 Feb. 2014 Romig, Joel. Personal interview. 13 Mar. 2013. Tuttle,Brad. “Movie-Theater Owner Tries to Justify $4 Fountain Sodas.” Time. Time Inc. 19 March 2012. Web. 14 Mar. 2014.
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