BookMyShow Marketing Strategy & Marketing Mix (4Ps)
Marketing Strategy of BookMyShow analyzes the brand with the marketing mix framework which covers the 4Ps (Product, Price, Place, Promotion). These business strategies, based on BookMyShow marketing mix, help the brand succeed in the market. Let us start the BookMyShow Marketing Strategy & Mix to understand its product, pricing, advertising & distribution strategies:
Quick Glance:
BookMyShow Product Strategy:
The product strategy and mix in BookMyShow marketing strategy can be explained as follows:
BookMyShow is an online website that allows users to book tickets just by sitting at home. Initially, when BookMyShow was launched it was a website like none other because the very concept was ground-breaking. People knew only one form of booking tickets which was standing in a queue for long hours to watch the movie of their choice. It changed all that by making booking tickets a click work. Over time BookMyShow has diversified into several categories as a part of its marketing mix product portfolio.
Now users can not only book movie tickets but also book tickets for theatre shows, IPL, upcoming events, concerts, Comedy shows and much more. The user interface of the website is very friendly. People can very easily see the show timings and the kind of seat they are booking. BookMyShow also has a mobile app to cater to the smartphone using population.
Image: company website
BookMyShow Price/Pricing Strategy:
Below is the pricing strategy in BookMyShow marketing strategy:
BookMyShow offers various price range depending on the type of ticket a person is booking. The website is also known to give discounts.
BookMyShow also has tie-ups with various banks and offer one on one tickets for premium card users. Payment in the website can be done using a debit card, credit card but the site also facilitates cash payment and users can go to the counter, pay cash and collect their tickets. Movie tickets for blockbuster hits and last minute tickets are priced higher than usual.
BookMyShow Place & Distribution Strategy:
Following is the distribution strategy in the BookMyShow marketing mix:
BookMyShow is mainly an online website easily accessible by anyone. Apart from this, it has a prominent presence in social media which redirects users to their website where they can book hassle-free tickets. BookMyShow's distribution channel is spread across 200 cities in India and over 900 cineplexes. It also happens to have a 90% share in the online ticket space and is clearly the market leader in its sector.
Bookmyshow offers its services in Indonesia, UAE, Sri Lanka, West Indies and of course India.
BookMyShow Promotion & Advertising Strategy:
The promotional and advertising strategy in the BookMyShow marketing strategy is as follows:
BookMyShow does not need traditional advertising since its unique selling proposition is that there is no other website like it. But BookMyShow does partner with IPL and has managed to sell over 1 Lakh tickets through this partnership. BookMyShow also has a huge fan following which can be seen clearly through its Facebook and Instagram followers. Its App also happens to have 34 million app downloads which clearly point at its popularity. Another strategy that BookMyShow follows is by giving users promotional and special season offers that people rush to grab. Their official webpage gets more than 3 billion views per month.
Since this is a service marketing brand, here are the other three Ps to make it the 7Ps marketing mix of BookMyShow.
People:
BookMyShow as a brand believes in the concept of work hard and party harder. It provides its people a platform to learn and perform at the same time. It has a dynamic and friendly work culture and is known to inspire out of box thinking from its people.
Process:
Through a series of acquisitions BookMyShow has become a market leader when it comes to selling tickets online. One such example is when the brand sold over 15million tickets for Bahubali 2 and generated a business of over 100 Cr.
Physical Evidence:
BookMyShow as a website is very user friendly. Every user has the option to select the city they are living in and tickets for a variety of entertainments is curated for them.
The users can easily navigate different tabs like movies, events, plays, sports, monuments, activities etc. Hence this completes the marketing mix of BookMyShow.
About BookMyShow:
BookMyShow was founded by Ashish Hemrajani, Parikshit Dhar and Rajesh Balpande three long time friends who came up with the idea of the website while they were on a trip to South Africa.The website officially became live in the year 2007 with Ashish Hemrajani as the CEO, Parikshit Dhar in charge of technology and Rajesh Balpande as the finance head.
This article has been researched & authored by the Content & Research Team. It has been reviewed & published by the MBA Skool Team. The content on MBA Skool has been created for educational & academic purpose only.
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