Marketing Mix Of IMAX and 7Ps (Updated 2024)

The Marketing mix of IMAX analyses the 7Ps of IMAX, which includes the Product, Price, Place, Promotion, People, Physical Evidence, and Process of IMAX. IMAX Corporation is a public company of Canadian origins. It is a theatre company associated with the entertainment technology industry and deals in the exhibition and production of Motion pictures. This multi-screen corporation was founded in 1968 by its co-founders William Shaw, Robert Kerr, Roman Kroitor, and Graeme Ferguson. IMAX believes in expansion and has strategic alliances and joint ventures with prominent global companies like Regal Cinemas, Wanda Cinemas, AMC Entertainment, and Muvico Theatres. Some of its main competitors in this field are as follows-

• Walt Disney Co.
• Netflix Inc
• Time Warner Inc
• SimEx Inc

About IMAX Corporation

• Type: Public Company
• Industry: Entertainment Technology
• Founded: 1967
• Founders: Graeme Ferguson, Roman Kroitor, and Robert Kerr
• Headquarters: Ontario, Canada
• Area served: Worldwide
• Key people: Richard Gelfond (Chairman) and (Grainger Smith)
• Number of employees: 3,200

IMAX Product Strategy

IMAX deals in the manufacturing, direct marketing, and designing of digital projection systems, IMAX cameras, film development, postproduction, production, and distribution to IMAX-affiliated theatres that include variations like Digital IMAX, IMAX Dome, and IMAX 3D.

The new Product Mix of IMAX in 2024 is as follows (Source).

1. HORIZON Max Projector: This projector is a result of a partnership with XGIMI. It features cutting-edge technologies like ISA 5.0 (Intelligent Screen Adaptation) and Dual Light 2.0. The Dual Light 2.0 system includes a Triple laser for an extended color range and a phosphor light to correct any imperfections the Triple laser produces. This technology offers an ultra-wide color gamut, ultra-high brightness, ultra-high contrast, and ultra-high color accuracy, making it IMAX’s brightest display.
2. Aladdin Projector: Aladdin is a unique combination of an intelligent ceiling lamp, a high-end projector, and connected speakers. It can display a 100-inch screen size directly from the ceiling, eliminating concerns about bulkiness and screen blockage. This innovative design prioritizes user safety by preventing direct light exposure and offers an impressive 0.7:1 projection ratio. Aladdin is designed for easy installation like a standard ceiling light, and integrates seamlessly into home decor. It also provides a variety of immersive experiences, including dynamic wallpapers and interactive children’s books.
3. Partnership with MediaTek: IMAX has also announced a partnership with MediaTek to enhance its projector line. This collaboration aims to unveil a broader range of projectors in 2024, incorporating MediaTek’s chips and the Google TV OS, further expanding IMAX’s product offerings in the home entertainment sector.

IMAX Pricing Strategy

IMAX’s pricing strategy is a well-calibrated mix of premium and value-based differentiation and target market. Here’s an analysis of how IMAX positions itself in the market through its market strategy and pricing:

1. Premium Pricing Model: IMAX ticket prices are generally higher than standard cinema tickets. This premium is justified by the enhanced viewing experience, which includes larger screens, superior sound systems, and often more comfortable seating.
2. Dynamic Pricing Structure: IMAX may employ dynamic pricing based on movie popularity, show timings, and geographical location. This strategy helps maximize revenue while adapting to market demand and customer willingness to pay.
3. Value Proposition: The pricing strategy is deeply rooted in the value proposition of an unparalleled cinematic experience. The use of cutting-edge technology in visual and audio presentation distinguishes IMAX from traditional cinema experiences, creating a perceived value that customers are willing to pay a premium for.
4. Strategic Pricing for Market Penetration: In emerging markets or newer locations, IMAX might initially adopt a slightly more competitive pricing strategy to attract audiences and build a customer base, gradually moving towards its standard premium pricing as the brand establishes itself.
5. Tiered Pricing for Different Experiences: IMAX offers different levels of experiences, such as IMAX, IMAX 3D, and IMAX with Laser. Each of these experiences has a different pricing model, allowing customers to choose based on their preferences and budget.

IMAX Place Strategy

IMAX is a world-recognized brand and has its reach in most countries. Its headquarters are in Mississauga, Canada. By the end of mid-year 2016, its network included 1,102 theatres spread over sixty-nine countries worldwide. IMAX operates in Los Angeles, New York City, Taiwan, Macau, Hong Kong, Japan, Mexico, Australia, Manila, and Toronto. Most IMAX theatres are built in commercial theaters to garner maximum audiences, while the rest are located at science centers, national parks, aquariums, and museums. Screens of IMAX theatres are giant with digital projection systems, some of which reach a height of nearly eighty feet to provide a unique cinematic experience.

Here’s the place strategy of IMAX.

1. Global Cinema Network: IMAX theaters are located globally, spanning numerous countries and continents, making IMAX experiences accessible to a broad international audience.
2. Partnerships with Multiplexes: IMAX often collaborates with existing multiplex chains to incorporate IMAX theaters within their facilities, leveraging these cinemas’ infrastructure and customer base.
3. Strategic Location Selection: IMAX theaters are typically located in urban areas with high foot traffic, such as shopping malls and entertainment complexes, to attract a large and diverse audience.
4. Presence in Museums and Educational Institutions: Some IMAX theaters are situated in museums and educational institutions, providing educational content alongside entertainment, which helps reach a more varied demographic, including students and families.
5. Expansion in Emerging Markets: IMAX has been focusing on expanding its presence in emerging markets, where the demand for high-quality cinematic experiences is increasing.

IMAX Promotion Strategy

IMAX has been a recipient of several recognitions and trophies. It was selected for awards like Greater Toronto’s and Canada’s Top 100 Employers. IMAX is concerned with the welfare of its workforce, and marketing management has taken positive steps to keep them happy and satisfied. The company has a well-defined pension plan and end-year employee bonus program.

Its head office has a large format, personal theatre, that employees, family, and friends can use. It offers several health benefits, a 500-dollar wellness allowance, and a 1000-dollar additional amount for paramedical services to its employees. IMAX believes in brand awareness by participating in several events like sports, holiday parties, and movie screenings. The company has a severe marketing strategy with a descriptive tagline: IMAX Is Believing.

Some Recent Video ads and Print ads for IMAX are:

IMAX People Strategy

The “People” aspect of the Service Marketing Mix for IMAX is crucial because it encompasses the staff, service providers, customers, and essentially anyone directly or indirectly involved in the consumption or delivery of the service. Here are several points focusing on the “People” element within IMAX’s service marketing mix:

1. Highly Trained Staff: IMAX theaters rely on well-trained staff in customer service and technical aspects to ensure a seamless viewing experience. This includes projectionists skilled in operating IMAX’s sophisticated projection technology and front-of-house staff who enhance the customer experience through excellent service.
2. Customer-Focused Experience: IMAX invests in understanding its audience to tailor experiences that meet or exceed customer expectations. This involves researching customer preferences, feedback, and trends to offer services that resonate with their audience, such as movie selections, seating comfort, and overall theater ambiance.
3. Technical Expertise: The technicians and engineers behind IMAX technology are integral to the IMAX experience. They work on the cutting edge of visual and audio technology to ensure the best possible presentation of films. Their expertise is crucial in maintaining the high-quality standards for which IMAX is known.
4. Training and Development: Continuous training and development programs for IMAX employees ensure that they stay at the forefront of customer service and technical knowledge. This includes training in new technology, customer service excellence, and operational efficiency.
5. Engagement and Feedback: IMAX strongly emphasizes customer engagement and feedback. They actively solicit input through various channels and use this information to improve service and address any issues. This direct line of communication helps foster a strong relationship between the brand and its customers.
6. Brand Ambassadors: IMAX also benefits from passionate customers and fans who act as brand ambassadors, sharing their positive experiences with others. This word-of-mouth promotion is invaluable and directly results from customers’ positive interactions with the people associated with IMAX.
7. Collaboration with Filmmakers and Studios: The people element extends beyond IMAX’s direct employees to include collaborations with filmmakers, studios, and other creatives who choose IMAX as their medium. This collaborative effort ensures that movies are available in IMAX format and optimized to take full advantage of what IMAX offers.
8. Global Workforce: As a worldwide brand, IMAX’s people strategy also includes a diverse workforce that understands and caters to their markets’ local cultures and preferences. This localization strategy ensures a personalized approach to service, making the IMAX experience universally appealing while being locally relevant.
9. Community Involvement: IMAX engages with communities where its theaters are located, participating in educational programs, charity events, and local initiatives. This helps build a positive brand image and creates a solid bond with the community members.

IMAX Process Strategy

The “Process” aspect of the Service Marketing Mix refers to the procedures, mechanisms, and flow of activities by which services are consumed. For IMAX, the social media marketing process is a critical component that ensures the delivery of its unique cinematic experience. Here are several points that outline the process element within IMAX’s service marketing mix:

1. Movie Selection and Acquisition: IMAX has a specific process for selecting and acquiring films to be shown in its theaters. This involves negotiations with studios, filmmakers, and distributors to secure rights for both blockbuster and specialty films that IMAX’s technology can enhance.
2. Film Conversion and Optimization: Once a film is selected, IMAX undergoes a proprietary process to either convert or optimize the film for IMAX theaters. This includes remastering the visual and audio components to meet IMAX’s high-quality standards, ensuring that films offer an immersive experience unique to IMAX.
3. Theater Design and Setup: IMAX theaters are designed with specific standards to optimize the viewing experience. This includes the theater’s layout, screen size and angle, seating arrangements, and acoustic design. Setting up an IMAX theater is meticulous, ensuring consistency in the customer experience across all locations.
4. Ticketing and Reservation System: IMAX employs a sophisticated ticketing and reservation system that allows customers to purchase tickets online or at the theater. This system is designed for ease of use and efficiency, minimizing wait times and improving customer satisfaction.
5. Customer Experience Management: From entering the theater to the post-movie experience, IMAX has processes to manage the customer journey. This includes customer service protocols, facilities management (such as cleanliness and comfort), and continuous feedback mechanisms to improve service delivery.
6. Quality Control: IMAX highly emphasizes quality control at every stage of its process, from film selection to presentation. Regular checks and maintenance of projection and sound equipment ensure that every screening meets IMAX’s stringent quality standards.
7. Training and Development: IMAX’s process includes comprehensive training programs for theater staff, focusing on customer service, technical knowledge, and emergency procedures. This ensures all staff members are equipped to provide customers with a safe and enjoyable experience.
8. Marketing and Promotions: Marketing and promoting films in IMAX theaters involves strategic planning and execution, including collaboration with studios, targeted advertising campaigns, and social media engagement to attract audiences.
9. Feedback Loop: IMAX has a process for collecting and analyzing customer feedback, which is used to make continuous improvements. This includes surveys, monitoring social media, and direct customer interactions to gauge satisfaction and address issues.
10. Sustainability Practices: IMAX incorporates sustainability into its processes, from energy-efficient theater design to reducing waste in its operations. This commitment to environmental responsibility is part of its broader process management to ensure a sustainable business model.

IMAX Physical Evidence Strategy

The “Physical Evidence” aspect of the Service Marketing Mix encompasses the environment in which the service is delivered, including all the tangible elements that customers interact with. For IMAX, physical evidence is crucial in differentiating its service offering and enhancing the overall customer experience. Here are several key points that illustrate the physical evidence component of IMAX’s service marketing mix:

1. Theaters and Seating: IMAX theaters are distinctive, featuring large, curved screens that can be several stories tall, offering an immersive viewing experience. The seating arrangements are designed to optimize sightlines and comfort, ensuring that every seat in the house provides an excellent screen view.
2. Screen Size and Quality: The IMAX screen size, significantly larger than standard theater screens, is a critical piece of physical evidence. The screens are designed to fill the viewer’s field of vision, enhancing the immersive experience. The screen quality, brightness, and clarity also sets IMAX apart from traditional cinemas.
3. Sound System: IMAX theaters have state-of-the-art sound systems that deliver precise and powerful audio. The placement of speakers and the sound technology used are part of the physical evidence contributing to the immersive experience.
4. Projection Technology: IMAX utilizes proprietary projection technology that delivers sharper, brighter, and more vivid images than standard projectors. This technology is a tangible aspect of the service that significantly enhances the viewing experience.
5. Branding and Signage: The IMAX brand is prominently displayed within theaters and on marketing materials. This includes logos, promotional posters, and digital screens. The consistent and high-quality branding is evidence of the premium experience IMAX offers.
6. Ticketing Kiosks and Concessions: The design and layout of ticketing kiosks and concession stands in IMAX theaters are tailored to provide an efficient and pleasant customer experience. The quality of service counters, menus, and product offerings at concessions are all part of the physical evidence contributing to the overall service experience.
7. Cleanliness and Maintenance: The cleanliness of the theaters, restrooms, and common areas, as well as the maintenance of facilities and equipment, are vital elements of physical evidence. They reflect the quality and standards of the IMAX brand.
8. Employee Uniforms: The appearance of staff, including uniforms, badges, and their overall professionalism, serves as physical evidence of the brand’s commitment to quality service. Employee presentation contributes to the customer’s perception of the IMAX experience.
9. Ancillary Services: Additional services, such as special screenings, educational programs, and behind-the-scenes tours, offer tangible evidence of IMAX’s commitment to enhancing the customer experience beyond movie-watching.
10. Website and Mobile App: The design, functionality, and user experience of IMAX’s online platforms, including its website and mobile app, serve as virtual physical evidence. These platforms provide a seamless interface for information, ticket purchasing, and customer engagement, reflecting the brand’s quality and attention to detail.

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