LUCKNOW: After capturing the corporate world, the multi-crore Bollywood film industry could be the next target for the students of the Indian Institute of Management, Lucknow (IIM-L). The latter have got an offer to undertake a live project to study the consumer behaviour pattern with regard to entertainment in the state capital.
The offer was made by Tarun Tripathi, head, marketing and external communication, Yash Raj Films, also an IIM-L alumnus, during his visit to the campus to educate and sensitise the students about the media and the entertainment industry.
Advocating that business schools must have a course on media-film management, he told students that film industry requires managers and since they are the best, they should opt for it.
"If you are a student from operations/systems stream, you can add about 30 per cent value to the product by joining the industry. If you are from finance stream where you have done lots of research etc you could be of even more help. I-banking as a career is lucrative. But, in the industry for which I work, it’s a high risk and high return game. If you have an idea that can kill, you can go places and get noticed," he said.
Shedding light on the opportunities in this industry for the creative minds with solid business acumen, he said that the overall increase in awareness about Bollywood around the world and the growth in cross-over audience are throwing up new challenges for the marketers. "Entertainment industry is growing at the rate of 9 per cent per annum. It can rightly be considered the sunrise industry along with the IT sector," he added.
He told audience about his chance meeting with Hrithik Roshan while he was working as an intern at HLL. This meeting led him to join Yash Raj banner. He gave up his coveted job offer at Philips to join the ever-changing entertainment industry.
Tripathi said that the first four days of a film decides whether it’s a hit or not. "The shortened life cycle that a film now has makes it increasingly important to capture the mind space of the potential viewers well before the film is ready for screening," he said adding "hence the marketing division, that does the launch planning, life cycle management and the identification of the right opportunities to generate the right content, has assumed greater significance."
He told students about strategies adopted in marketing the blockbuster Yash Raj Films like Hum Tum, Bunty Aur Bubli, Dhoom, Dhoom 2 and Chak De to name a few. Tripathi had set a trend with the music launch of Hum Tum on the radio. He also elaborated how Yashraj Films devised strategies to promote films in a unique manner. While promotion of Bunty aur Bubbly saw the stars of the film reading news on a news channel, for Hum Tum special comic strips were designed.
The innovative methods adopted and the avenues explored for the promotion of these films left the audience fascinated, he said. The process of identification of the consumer segment for each promotional strategy based on the viewing habits and other effective factors of the viewers gave the audience a glimpse of what goes on at the back end of a production house, he added.
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The offer was made by Tarun Tripathi, head, marketing and external communication, Yash Raj Films, also an IIM-L alumnus, during his visit to the campus to educate and sensitise the students about the media and the entertainment industry.
Advocating that business schools must have a course on media-film management, he told students that film industry requires managers and since they are the best, they should opt for it.
"If you are a student from operations/systems stream, you can add about 30 per cent value to the product by joining the industry. If you are from finance stream where you have done lots of research etc you could be of even more help. I-banking as a career is lucrative. But, in the industry for which I work, it’s a high risk and high return game. If you have an idea that can kill, you can go places and get noticed," he said.
Shedding light on the opportunities in this industry for the creative minds with solid business acumen, he said that the overall increase in awareness about Bollywood around the world and the growth in cross-over audience are throwing up new challenges for the marketers. "Entertainment industry is growing at the rate of 9 per cent per annum. It can rightly be considered the sunrise industry along with the IT sector," he added.
He told audience about his chance meeting with Hrithik Roshan while he was working as an intern at HLL. This meeting led him to join Yash Raj banner. He gave up his coveted job offer at Philips to join the ever-changing entertainment industry.
Tripathi said that the first four days of a film decides whether it’s a hit or not. "The shortened life cycle that a film now has makes it increasingly important to capture the mind space of the potential viewers well before the film is ready for screening," he said adding "hence the marketing division, that does the launch planning, life cycle management and the identification of the right opportunities to generate the right content, has assumed greater significance."
He told students about strategies adopted in marketing the blockbuster Yash Raj Films like Hum Tum, Bunty Aur Bubli, Dhoom, Dhoom 2 and Chak De to name a few. Tripathi had set a trend with the music launch of Hum Tum on the radio. He also elaborated how Yashraj Films devised strategies to promote films in a unique manner. While promotion of Bunty aur Bubbly saw the stars of the film reading news on a news channel, for Hum Tum special comic strips were designed.
The innovative methods adopted and the avenues explored for the promotion of these films left the audience fascinated, he said. The process of identification of the consumer segment for each promotional strategy based on the viewing habits and other effective factors of the viewers gave the audience a glimpse of what goes on at the back end of a production house, he added.
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