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Week 7

Last week we had no lectures or seminars. Therefore I used the time to research our task and to read various articles in the topic area. We got to know our customers the week before and asked them questions to better understand their business. The client makes interactive films, allowing the viewer to control the characters and create their film process.
I think this approach is more relevant than ever. Nowadays, customers are increasingly demanding the individualisation of products. This trend can be observed in many areas and can therefore easily be transferred to the film industry. The trend towards individualisation essentially means freedom of choice for the customer. It is so profitable because, with the individualization of products and services, the needs of customer groups and each customer can be met as well as possible. This is very important in our highly competitive economy and is particularly well received by Odyssey Arts. In my opinion, this point will help the company to succeed and is, therefore, the most important unique selling proposition. 
Another interesting context I discovered last week is the following:
The cinema audience is decreasing and more and more customers are switching to online streaming providers like Netflix and Amazon Prime. This makes it difficult for the classic film industry to remain lucrative and profitable. Only the big and well-known film production companies can withstand this pressure and win the online streaming providers as cooperation partners in addition to numerous moviegoers. This is where the company can excel, as the films are not produced for the big screens in the cinemas. Since the product is a combination of feature film and video game, every one counts as a potential customer and is addressed by the product. Considering the size of the video game industry in terms of volume, this point is highlighted once again.
The high cost of film production is also an important point to keep in mind. In particular, this makes it more difficult for new competitors and start-ups to compete with the major film production companies. This considerably increases the barrier to market entry. 
However, since the founders have a high degree of knowledge and expertise in the field of film production and business management, these topics such as video recording, sound editing and product marketing can be covered very well. 
Especially at the beginning they can enter the market easily and reduce their production costs. Since there is still no comparable product in the form, the initial quality difference should be ignored from my point of view, since the customers cannot reach a sufficiently comparable product. This justifies possible quality defects at the beginning. The production of the film with minimal capital input can also be used for advertising purposes and thus attract new investors for follow-up projects.
In my opinion, the most important thing is to understand the market at the beginning. Therefore, it is very important that we continue our research in the coming weeks and as consultants keep a constant eye on current developments.

Picture Source: www.zenergi.co.uk/business-users/ [12/11/2019, 11am]

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