Falls River Theatre
Market Analysis Summary
The Falls River Theatre is located in downtown Falls River, the shopping and entertainment center of town. This provides easy access for every resident of Falls River and a viable entertainment option any night of the week. The local business community has shown great support for a theatre since it would keep residents, and their spending dollars, in the community instead of one of the surrounding communities. A typical family (there are about 2,300 on Falls River) can expect to save approximately $48 for a night out at the movies by coming to a local theatre. This savings, along with quality movie selection, should keep people coming back regularly.
4.1 Market Segmentation
- Families – this segment focuses on adults and parents with younger children who don’t need to see the latest movies on release and seek an inexpensive, quality, family-oriented entertainment experience.
- Young adults – this segment is comprised of the 16-24 year old age group. This group is interested in seeing comedy and action/adventure type movies that are not directed at the younger and family markets.
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4.2 Service Business Analysis
The Falls River community has been in need of a local movie house since the closure of its only theatre eleven years ago. With the closest movie complex located 45 miles away, movie goers options are limited – either a round trip drive of over 90 miles or in home rentals. For people who enjoy the big screen, neither offers a satisfying experience. The Falls River Theatre can satisfy those needs with quality movies in a comfortable, old-style movie theatre.
4.2.1 Competition and Buying Patterns
Competition for movie theatres comes in a number of different forms. In general you can describe the indirect competition as any entertainment alternative in the local area. Competition comes from the local skate park, pool hall and various restaurants. Restaurants also present a potential complimentary offering that we might exploit later through strategic alliances. As mention before, the direct competitor is the movie theater located 45 miles from Falls River. The inconvenience this presents for Falls River locals presents a tremendous opportunity for our theater.
4.3 Target Market Segment Strategy
These two market segments, families and young adults, are targeted specifically because they comprise the two largest segments of Falls River’s population. The Falls River Theatre is determined to be a community-oriented business and seeks to serve as much of the population as possible. With a small college in town, there is an ample student market, consumers who often have limited transportation options.