Executive Summary
Vietnam's film industry presents a promising market, particularly in major cities like Hanoi and Ho Chi Minh City, which together account for over 80% of the country's cinema Currently, there are over 220 movie theaters in Vietnam, including 120 operational venues and 100 high-quality screens However, the cinema market is unevenly developed across provinces, leading some local theaters to close or shift to alternative businesses due to insufficient audience numbers In response, several theaters are investing in digital projectors to attract viewers back to the cinema experience.
The Vietnamese theater market is experiencing average annual revenue growth of 20% to 30%, which is relatively low compared to global cinema trends However, Mr Brian Hall (2012) notes that each cinema in Vietnam serves approximately 450,000 potential moviegoers, in stark contrast to about 5,000 in the U.S This indicates significant untapped potential within Vietnam's cinema market.
Situation analysis
Market demographics
Hanoi, the capital and largest city of Vietnam, serves as a vital social, economic, cultural, and educational hub With the power of the Internet and various delivery services, Platinum Cineplex is able to cater to a diverse range of customers.
- The total targeted population is 2.4 million viewers
- The female surpass the male with slightly figure
- Ages 5-44 The recreational viewers tend to cover the widest age range but focal customer section is young movie lovers who enjoy thrills, adventures and blockbusters
- Of the viewers who are from the ages 15-22, almost attending at school or university
- The adults viewers have a median personal income of 4 million VNĐ
- People enjoy movies as an intrinsically favorable leisure activity
- People spend money on experience from exquisite image quality and authentic sound systems
- People follow the leading trend, always update the lastest film production.
Competition
Platinum Cinema Systems has emerged as a significant player in Vietnam's cinema landscape, particularly appealing to students and young professionals This growth has prompted established competitors like CGV (Megastar) and Lotte Cinema to enhance their offerings Currently, a fierce rivalry exists between Platinum, which operates four theaters, and CGV, which has two in Hanoi Despite Platinum's expansion, CGV maintains a broader presence with over 13 cinemas across major cities such as Hanoi, Hai Phong, Da Nang, Ho Chi Minh City, and Bien Hoa.
Platinum Cineplex
Platinum is a brand of Cineplex cinemas introduced by Multivision Pictures (MVP) in Indonesia, a media and entertainment company founded by Mr Ramm Punjabi, a notable figure in both Indonesian and global cinema Currently, Platinum Cineplex operates in Indonesia, Malaysia, Thailand, Laos, Cambodia, India, and Vietnam, with plans for expansion into Sri Lanka and Australia.
Since its debut in Vietnam in October 2010, Platinum Cineplex has established four modern cinemas, including two locations at The Garden and Long Bien Village Initially serving audiences in the northwest and northeast regions of Hanoi, Platinum Cineplex is expanding its reach by introducing two new theaters in the Royal City Commercial Center at 72A Nguyen Trai and Times City shopping center at 458 Minh Khai, targeting the southwest and southeast areas of the capital.
Each Cineplex Platinum is comprised of three to seven medium and large auditoriums, accommodating thousands of visitors daily The unique design and striking aesthetics of Platinum Cineplex draw in customers, showcasing a modern European style Subtle colors and elegant wall designs enhance the ambiance, while film posters and trailers are prominently displayed throughout the lobby and hallways, creating an inviting and memorable experience for audiences as they enter the theater.
Platinum Cineplex cinemas are making significant investments in cutting-edge technology, featuring Polar big screens that deliver exceptional high resolution and brightness These theaters provide exquisite image quality that meets international standards, complemented by advanced Dolby Digital 7.1 surround sound systems With the capability to showcase a variety of formats, including 3D, 2D Digital, and 35mm, Platinum Cineplex ensures a premium cinematic experience for all moviegoers.
- In-deep industry experience and insight
- The use of a highly efficient, flexible business model utillizing direct customer sales and distribution
- Located in the planned commercial centre
- Creative, practical product designers bring fresh feeling to customers
- Simultaneous investment with the most modern equipment
- The difficulty of developing brand awareness as a start-up company
- People tend to spend more money on leisure
- Decreased product costs through economy of scale
- The ability to leverage other industry participants’s marketing efforts to help grow the general market
- Future and potential competition from an already established market participant
- Technology development, the advent of smart TV that can bring interesting experiences
- A slump in the economy that could have a negative effect on people’s spending of discretionary income on recreational products
- Competition from other forms of entertainment
Marketing strategy
Mission
Platinum Cineplex is dedicated to providing movie enthusiasts with the latest and highest quality films, along with exceptional services and convenience It strives to meet the desires and passions of art lovers by offering unique and enjoyable experiences Additionally, Platinum Cineplex focuses on creating a positive work environment for its staff while ensuring promising returns for investors and shareholders.
Target markets
In Vietnam, from now to 2020, Platinum Cineplex will present brand new cinema complexes within almost all the crucial cities across the country, ranging from the North to the South
The company aims for young and dynamic movie lovers and families.
Positioning
Platinum Cineplex aims to become a leading cinema chain in Vietnam through a robust market development strategy, strategic investments in state-of-the-art equipment, and the establishment of modern complexes This initiative is set to transform the movie-watching culture in the country, making it the perfect destination for young Vietnamese film enthusiasts.
Objectives
To uphold and enhance the cinema's reputation, it is essential to align with international standards by featuring top-selling films and the latest blockbusters The focus should be on delivering a user-friendly experience and exceptional service to ensure customer satisfaction.
• Attract customers to theaters by purchasing and showcasing the latest blockbusters of premium quality
• Get the targeted customers to come to the cinemas more often and likely to invite new customers as well
• Continue to maintain its position as one of the top cinema systems in Vietnam and aim for gaining even more customer, winning 1/3rd of the growing Vietnam cinema market
Increase the profit margin by 5% per quarter through efficiency and economy of scale gains
Maintain a significant research and development budget
Achieve a double to triple digit growth rate
Marketing program
Platinum Cineplex concentrates on these following strategies:
And attracting more patrons by showing newest movies, plus great promotions
Platinum Cineplex is concentrating more on the 3D slope, buying and showing more 3D movies, as 3D is the new trend
Showing all first-run and blockbusters in Vietnam
It is also investing in one of its new selling point which is the Platinum Lounge
Platinum Lounge, introduced by Platinum Cineplex in 2013, offers a luxurious movie experience with VIP leather seats that are configurable and provide extra legroom These exclusive complexes feature fewer seats per room and dedicated staff to serve each pair of seats, along with complimentary food and drinks The Lounge exclusively showcases the latest 3D movies, ensuring a premium viewing experience.
For now Platinum Lounge is only implemented at Vincom Royal City Mega Mall, but in a few years the feature will be implemented in every single complex across the country
Constantly upgrades equipment and facilities
Our venue offers additional services to enhance your movie experience, including a concession stand that provides a variety of food and light drinks, along with movie accessory combos For those looking to unwind, we have a waiting area across the hall where moviegoers can relax, enjoy drinks, and engage in conversations about the latest films, ensuring a great time for all.
Additionally, Platinum Cineplex also leases conference rooms for enterprises to hold meetings and events
Platinum Cineplex sets the price for movie tickets at the average compared to competitors’s to assure competing fairness but still gains profit
Student support: 10.000 VND discount for students who bring student ID/card, applied for tickets bought on Mondays and Wednesdays, before 5PM
Special Thursday: 15.000 VND discount for tickets bought on Thursdays, to boost sale in midweeks
Platinum Cineplex constantly holds pleasant promotions to captivate cinema-goers
Special Couple’s Day promotion, Special Thursday promotion
Happy Birthday Program: designed for Platinum Friend & Platinum Best Friend Card holders
Platinum Cineplex complexes are expertly designed and built to meet international standards, ensuring a top-notch cinematic experience The captivating box offices, enticing concession stands, and stunning halls create an atmosphere reminiscent of Hollywood, making each visit truly memorable.
Modern complexes are built on expansive sites, typically featuring around 1,000 seats They are equipped with state-of-the-art sound systems, all upgraded to the latest Dolby Atmos standards Additionally, the technical systems are managed by specialists from Warner Bros Entertainment.
Platinum Cineplex is still expanding its scale, aiming to be present in all crucial cities across Vietnam
Official website: oDual language option oSimplified and customer-friendly oHelpful with all the information customers seek for: movies showing or to be shown, showing time, ticket prices, promotions, hotline
Environment: oHallways and cinema rooms are constantly cleaned thoroughly throughout the day, right after every shift oThe air is regulated and kept fresh all the time, comforting movie-goers
Visitors to Platinum Cineplex can conveniently park in the spacious underground parking sections of the mega malls With ample parking space and easy accessibility, customers can quickly reach the cinema via elevators located in each section.
Customers can access the official website and see trailers, check ticket prices, showing time and book tickets easily with just a few clicks, which is very convenient
Before the showing time, there are waiting tables set across the hallways where moviegoers can freely sit and relax, and maybe enjoy a drink with a friend while having a quick chat
Cinemas typically start movies 5 to 10 minutes later than scheduled to ensure that viewers don't miss any part of the film they are eager to see.
Official website: https://www.platinumcineplex.vn
Facebook sub pages: ohttps://www.facebook.com/PlatinumCineplexVietnam ohttps://www.facebook.com/PlatinumCineplexNhatrang
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Market research
SURVEY LEVEL OF CUSTOMER SATISFACTION ON PLATINUM CINEPLEX CINEMA
Only 1 answer o Under 16 years old o 16-25 o 25-35 o Over 35 years old
1 answer o Student o Part time job o ate Employment Administration St o Private Employment Administration o Jobless
4 Which cinema do you think first when referred to cinemas?
1 answer o CGV o Platinum Cineplex o Lotte Cinema o National Cinema Center (NCC)
5 Which cinema have you been to see movie? you can select multiple answers o CGV o Platinum Cineplex o Lotte Cinema o NCC
6 Which cinema do you usually go?
1 answer o CGV o Platinum Cineplex o Lotte Cinema o NCC
7 What time do you often go to the cinema
1 answer o 9AM -2PM o 2PM -6PM o 6PM -9PM o After 9PM
8 You go to the cinema with: more than 1 answer o Relatives o Lover o Friend o Alone
9 How do you know about Platinum Cineplex ?
More than 1 answer o Family o Friend o Press o Leaflets o Internet o Do not know about it
10 Which days do you usually go to cinema? more than 1 answer o Special thursday o Weekends o Holidays o Weekdays
11 What sorts of movie do you enjoy? more than 1 answer o Action o Adventure o Comedy o Emotional o Fiction o Animation o Horror o Detective o Psychology o History o Another
12 How much do you concern about Platinum Cineplex
13 What cinema do you think it the best quality after the following criterias ?
Distance between the rows of seating
The level of movie updates
Cineplex Lotte Cinema NCC services bundled
14 What promotions of Platinum Cineplex do you like most ?
1 or 2 answers o Discount tickets o Built-point girfs o Discounted food and drink o Buy one ticket get one ticket o Loyalty
15 What services do you want Platinum Cineplex to enhance and provide?
4 Which cinema do you think first when refer to cinema?
5.Which cinema have you been to see a movie?
6 Which cinema do you usually go?
7 What time do you often go to the cinema?
8 Who do you go to the cinema with
9 How do you know about Platinum Cineplex ?
10.Which day do you usually go to the cinema ?
11.What sort of movie do you enjoy ?
12.How much do you concern about Platinum Cineplex ?
13.Please choose/ select the most qualified cinema with the following criterias ?
Distance between the rows of seating
14 What promotions of Platinum Cineplex do you like most?
15 What services do you want Platinum Cineplex to enhance and provide?
1 Customer characteristics: mainly women, ages 18-35, mostly students or office worker
A recent survey of major theaters in Hanoi revealed that Platinum ranks as the second most popular choice among customers, following CGV, with Lotte Cinema and the National Cinema Center trailing behind.
24 %respondents selected theaters Platinum is often (CGV ( 33% )
33 % customers rated Platinum has the best quality ( CGV 49 % )
29 % customers rated Platinum has the best seats
33 % customers have received quality Platinum promotions most attractive
3 Habits customers : Sort of movies attract the most customers : action , comedy , emotion , animation
Customers often to cinema Platinum weekend and choose time slot 18h - 21h Also through survey we also found that customers often go to the cinema with their friends ( 37 %) or with relatives ( 28 % )
Financial
Sale forecast
Expense forecast
End date Budget Manager Department
Website and fan page 1/1/2014 3/1/2014 50 Mil Out source
Decoration material of hot movies
-Special combo for food and drink
Control
Implementation
We are implementing stringent control measures to effectively monitor quality and customer service satisfaction, allowing us to swiftly address any issues that arise Additionally, we will track monthly sales and expenses as early warning signals to identify any deviations from our plan.