Identification of critical success factors in the Indian film industry and studying their interrelationship
UNDER THE GUIDANCE OF
1. Introduction to the Problem
2. Research Objectives
a) What we did for the primary data
b) Questionnaire in the Project Proposal
c) Questionnaire we actually used in the survey
d) Secondary Data Collection
Sampling the primary data
Sampling the Secondary Data
5. Factor Analysis as a data reduction method for primary data a) Basic Idea of Factor Analysis as a Data Reduction Method b) Combining two variables into a Single Factor
6. Secondary Data Analysis and Interpretation
7. Implications and Suggestions
Introduction to the Problem
The business of movies is a risk intensive business. For an experiential good like movies, Indian film industry is a pretty disorganized one. Most of the movies are made without keeping in mind the target audience and in that search for that elusive Holy Grail called box office success our movie makers end up throwing their product to everybody. And trying to be everything to everybody is not an easy business. Rather it could send you out of business!
So if we could somehow determine what the audience want, and jot out success factors for a movie, a producer/director’s life could be made a lot easier. Specifically, as with other experiential goods, the primary reason for people to consume a movie is to experience it, rather than expecting it to fulfill a physiological need. This makes the task of finding out these factors all the more difficult.
There is a lot of subjectivity on what constitutes a good movie and a bad movie. That is because all movie-goers don’t want to experience the same thing. But the basic need is experience here.
We feel that Indian film industry is to a large extent out of sync with what the consumer wants. That is reflected in the way how movies in India are marketed and distributed. Although of late, things have started to change. An example is Yash Raj films who have tried to follow a more systematic approach of targeting, segmenting their viewers and then promoting accordingly.
India has the biggest film industry in the world (volume wise). Whereas in other countries like US where films are made mostly by studios, in India movies are made by production houses etc. Some relevant data is show below:
Cinema attendance (Top 25 Countries)
Cinema attendance (per capita)
To determine and interpret the critical success factors for a movie made by the Indian film industry by collating data from a wide database of movies and movie goers.
Our research involved identifying the possible success factors for a movie first. For this purpose we collected secondary data from around dozen or so sites which are based on movies and conducted what is known as exploratory research.
Exploratory Research using secondary data
The data collated was totally external and consisted of published materials, Computerized Databases. We tried contacting professional groups like Times Of India, Indiafm.com since they regularly publish data about movies. So we thought that they would be maintaining an archive of the movies they give reviews for. But ultimately they suggested us to visit their sites only for this information. So the internet obviously was an important source of information.
- Movie guides giving information about casts, directors, music etc. helped us thinking about the possible factors
- Directories/web databases (like imdb.com) guided us to...
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