Marketing in Action - PVR Passport - Watch 10 movies/month for 800 Rupees!!

 First Published on 1st September 2023

I would say a wonderful innovation. Many like me feel that Rs 200/- for a movie is too much of a cost. This innovation would bring people come back to the big screen.  Right now available only in  Kanpur, Lucknow, Ludhiana. Kolkata, Gauhati, Pune and Ahmedabad. 

How does it work? You pay in advance. Most people will buy 2 tickets. That is Rs 1200/-. Weekdays only. So no problem with footfalls on Friday, Saturday and, Sunday. Most will not be able to watch 10 movies in a month. So they will watch maybe 5 or 6. So that would be Rs 100/- per movie. The concept is akin to loss leader pricing. 

The crowds will be more and money can be made on food and soft drink sales. If the crowds come in WOMBAT might trigger more people to come in on Saturday and Sundays.

 

Marketing in Action - Corona Beer and Zica Car from TATA MOTORS

Most of my students of management, especially marketing students, think that mistakes committed by companies should not be committed in the first place.

They conclude saying "these are such basic decisions, why could they not have anticipated such an event". They seem to think everything is orderly and clockwork-like precision watches. What they fail to understand is that the business world is dynamic and fraught with uncertainty.

This Mexican brand of beer could not have even imagined in its wildest dreams that a deadly virus would be named after its famous brand - Corona. And the result, the stock nosedived by 8%. Whom does the company blame, nobody but its fate? That is why Business education is still called Masters of business administration. It is an art and not a science.

A similar fate was forced on Tata motors when it withdrew the name of its car named Zica which was exactly a virus-like Corona that led to many deaths in the year 2016.

Tata was forced to rename its car as Tiago. The loss that Tata would have incurred - many crores, opportunity cost and wasted time, effort and money in brand building the name - Zica.

Business students wake up. The real world is very different from what you read in the books or what you read in case studies. Be ready. The world is full of surprises.