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MM Cirque du Soleil Case_Group_3_Sec_b

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MM Cirque du Soleil Case_Group_3_Sec_b

  1. 1. INDIANINSTITUTEOFMANAGEMENTROHTAK| GROUP3 MARKETINGMANAGEMENT-I BARATHSINGH(PGP05063) | DIBAKARBHOWMIK(PGP05065) | DIVYANSHIBHATNAGAR(PGP05066) CHAUHANRAKSHITBHARATKUM(PGP05064) | GANGANDEEPSINGHPANNU(PGP05067) REINVENTINGTHEWHEEL: ANALYSINGTHETRADITIONAL CIRCUS INDUSTRY
  2. 2. “ VERY HIGH” Low degree of Vertical Integration Low supply of Big Names Act Workforce Demands High Cost forStar Performers High Cost for wild animal trainers High Labor & Travel Cost Difficulty in Animals Transportation Low Supply of Exotic Animals
  3. 3. “ VERY HIGH” Low Brand Loyalty Change driven Industry Technology driven No direct Competition due to Large Share “LOW”
  4. 4. Low CLV Low Switching Cost Lack of unifying theme and bewildering acts. Hence could not compete with movies & other entertainment sources Highly localized performance Acts carried over to next year, so low market power due to no novelty “HIGH”
  5. 5. Highly Price Elastic Target audiences were only kids and family Low focus on commercialization led to inefficient processes Lowefforts made to increase the customer base and attract currently non-existent customer segment e.g. youth/adults “HIGH”
  6. 6. COMPEITION/RIVALRY “HIGH” Low Market Growth Declining Demand Alternate Sources of Entertainment Low degree of Product Differentiation Live Entertainment -declining Industry
  7. 7. HIGH COST LOW CLV LIMITED TG DECLINING REVENUE LOW MARGIN LOW PROFITABILITY INDUSTRY ATTRACTIVENESS –“LOW”
  8. 8. LOW MEDIUM HIGH STRONG MEDIUM LOW INDUSTRY ATTRACTIVENESS BUSINESS UNIT STRENGTH Ringling & Brothers Good to Invest Bad to Invest SITUATION ANALYSIS Barnum & Bailey
  9. 9. LOW MEDIUM HIGH STRONG MEDIUM LOW INDUSTRY ATTRACTIVENESS BUSINESS UNIT STRENGTH Ringling & Brothers Barnum & Bailey Towards late 20thCentury Good to Invest Bad to Invest SITUATION ANALYSIS
  10. 10. BIG NAMES ACT EXTERNAL IMAGERY ENHANCED VISIBILITY Equestrian Acts Clowns Acrobats Jugglers Fancy Tools Electric Lights Moving Pictures Large Tents Educational Entertainment “Roman Circus Maximus” Three Rings Model FACTORS TO COMPETE
  11. 11. BIG NAMES ACT EXTERNAL IMAGERY ENHANCED VISIBILITY Equestrian Acts Clowns Acrobats Jugglers Fancy Tools Electric Lights Moving Pictures Large Tents Educational Entertainment “Roman Circus Maximus” Three Rings Model FACTORS TO COMPETE
  12. 12. Target Market Frame of Reference Point of Difference Reasons to Believe •Psychographic Segmentation •Children & Families •Big Names Act •External Imagery •Price Concessions •Enhanced Visibility •Better Seating Capacity •Exotic Animals •Live Show •Established Names •Initial Marketing Traditional Category Identity Blue Ocean Strategy CATEGORY IDENTITY & POSITIONING
  13. 13. Reinventing the wheel Redefined Experience Unique Positioning Win-Win Partnerships Customer Loyalty
  14. 14. TRADITIONALCIRCUS CIRQUEDUSOLEIL Circusperformers and animals Streetperformers, no animals Low-browamusement Provocative, sophisticated performances Incorporateselements of “typical” circus experience Emphasis on innovation and creativity Targets kids and families Targets sophisticated adult population Redefined Experience Unique Positioning Win-Win Partnerships Customer Loyalty Creating New Markets & Breaking Production Costs
  15. 15. Redefined Experience Unique Positioning Win-Win Partnerships High price Low price Intense Mild PERFORMINGARTSMARKET Customer Loyalty Source: Wharton School Breakaway Positioning
  16. 16. Cirque du Soleil’s brand brings consumers to partner venue Contributed to doubled earnings growth of three largest casino partners NY-NY experienced 23% increase in net revenues given the addition of Zumanity MGM increased 13% increase in slot revenue attributed to Kà Redefined Experience Unique Positioning Win-Win Partnerships Customer Loyalty Source: Wharton School New Avenues for Growth & Unique Product Offerings
  17. 17. The typical Cirque du Soleil customer is affluent and loyal to the brand Redefined Experience Unique Positioning Win-Win Partnerships Customer Loyalty 70% repeat customer base Targets sophisticated and educated adults $75,000+ in average annual income Source: Wharton School High Customer Engagement & Increasing CLV span
  18. 18. Redefined Experience Unique Positioning Win-Win Partnerships 0 100 200 300 400 500 600 700 800 Revenue (CAD$ millions) 0 2 4 6 8 10 12 Annual Tickets Sold (millions) Customer Loyalty 70 million tickets sold by 2007 Source: Wharton School Low Cost, High Revenue, Higher Profitability
  19. 19. Thank You

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