During the past week, I analyzed my industry in production
and I also identified my competition. For this week’s project assignment, we
had to add those details to our business plan. As you see below, this project
is broken down into 3 parts: Industry Analysis and Trends, Target Market
Analysis, and The Competition.
Industrial Analysis
and Trends
Here is an overview
of my industry, the market opportunity, the barriers to entry, and the
long-term opportunities.
Industry Overview:
The production industry is in transition. In this day and
age, video production is now known as a creative skill that can be learnt by
anyone with ambition and imagination. You can get receive software for free, or
pay a monthly fee for programs as adobe. But on another note, on a professional
level, the production industry is gearing more towards reality television. I
can understand that people love another person’s lift turn into a train wreck,
but there are also shows that are inspirational, comforting, educational, and
informing. These are more of the shows that D.Y.M.E. Productions are willing to
share with the world.
Market Opportunity:
To grow some revenue, our television company can confide
with another company to help develop a national growth strategy. This will
include an analysis of existing operations as well as new marketing
opportunities in non-core and emerging markets. By doing this, we can develop
an emerging market strategy with specific target and supporting implementation
plans.
Barriers to Entry:
The Barriers to Entry will act like a deterrent against any
competitor that plans on coming into the industry after D.Y.M.E. Productions is
established. This will serve as a defense mechanism that imposes a cost element
to new entrants. This will help D.Y.M.E. Productions become a market leader and
this will help us understand how to protect our position.
Long-Term Opportunities:
D.Y.M.E. Productions’ long-term opportunities are instilled
with our company to wanting to break down barriers and thinking out of the box. Not to mention the kind words of our clients
recommending us to their friends and colleagues at other companies. Some
production companies tent to follow the way of others. D.Y.M.E. Life is more of
a company that thrives off the fact of thinking out of the box. Our 5 – 10 year
goal, we plan on having our company more on an international level. With the
development of D.Y.M.E. Life TV and Food Traxx with Benzo, within the first 3
years of filming we are going to take the show over the world. With this
happening, this will open the door with networking with movers and shakers and
different countries. Another goal within 10 years would be producing a summer
box office hit.
Target Market
Here is an overview
of my target market including the description, the size, the trends, the
customers, the readiness, and the strategic opportunities.
Market Description:
D.Y.M.E. Productions offers an unlimited amount of services
to clients that are interested with investing with our company produce
television shows, films, commercials, exc. The target market for D.Y.M.E.
Productions is very diverse; this is why we plan on opening more offices around
the United States. As said before,
D.Y.M.E. Production is a very unique company. Within a reasonable amount of
time, our company will be past the development stage. Our supply and support
systems are available and we are currently working the ends of the development
costs.
Market Size and Trends:
Film and Video Production companies in the industry have
grappled with mounting production costs. Many have increasing invested in high
cost special effects. We also have some that are working with new distribution
channels, even online content providers such as Netflix and Hulu. Even though
we are located in New York City, over 28% of total domestic film production is
done in California.
Target Customers:
Are target customers are are people that are seeking to take
their ideas and turn them various forms of media. We will give them that
platform for television show, short films, Internet shows/vlog, interactive
entertainment and digital media.
Market Readiness:
Searching for a phenomenal production company isn’t new to
our potential clients. From the loyalty that we will have with existing clients
with the gift of networking with as some call it “word of mouth”, we feel that
our services may seem as a competition to some companies, but with the factors
in New York City with over 100 start up production companies coming to life
within the next 2 years, this may effect out market, but we can stay positive
as long as we keep putting up top notch work and keeping our clients
happy.
We
plan to initially market our products and services as an alternative solution
for television networks and video companies. These markets were selected
because of their size, trends in technology, our experience with video
production, our industry contacts, and an overall belief that they are most
appropriate to initially target.
The Competition
Here is an overview
of my company’s competitors, the advantages, the barriers to entry, and
strategic opportunities.
Competition:
A. Zero Point Zero Productions
B. Restless Films
C. CubeVision
Advantages:
A. This is a media production company that works
out of New York City. This company caters into making television shows for
national syndicated stations. An advantage that we have over them is that our
ideas for shows are more in depth and we are willing to work with other
companies for cross marketing. Zero Point Zero would never think of doing that.
B. This
production company is based out of New York City. Even though this company
makes short-films and music videos, we have an advantage because our company
specializes in other routes of production such as television shows, commercials,
vlogs, ect.
C. This production company is based out of Santa
Monica, Ca. This company mainly makes motion pictures and television shows.
Even though this company is highly respected in the industry and our company is
new to everything, we have an advantage because unlike the owners of CV, our
team is young and open to new ideas to work with the clients.
Barriers to Entry:
A barrier we could face tying to compete with these brands
would be being black balled or going out of business. The industry is small and
word of mouth/networking is everything. I would never want the owners of these
companies feeling that I call them competition to D.Y.M.E. Productions. I more
so call them inspirations on levels that I would want my company to be. Of
course we are in competition because we all are production companies, yet it is
always better to make a friend/potential future business partner than enemy in
this cut throat industry.
Strategic Opportunities:
Our company can meet the needs over the competitors by
sticking to what D.Y.M.E. Productions stands for. Being unique, bold, cutting
edge, and the prototype. The opportunities I see for D.Y.M.E. Productions are
60% positive 40% negative because I am new to running a production company, yet
I have business partners and financial advisors that are willing to steer the
brand and myself into the right direction. Not to mention, I am willing to do collaboration
with my competitors. This will open the door for more cross marketing for the
D.Y.M.E. brand and more collaborations with other production companies in the
industry.
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