IMAX Corporation is a public company of Canadian origins. It is a theatre company that is associated with entertainment technology industry and deals in exhibition and production of Motion Picture. This multi-screen corporation was founded in the year 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
Product in the Marketing Mix Of IMAX:
IMAX deals in manufacturing and designing of projection systems, IMAX cameras, film development, post production, production and distribution to IMAX-affiliated theatres that include variations like Digital IMAX, IMAX Dome and IMAX 3D.
The company has also been producing special-format films that can be viewed via its projection systems and in distribution and production of large-format films. IMAX is a name synonymous with innovation and entertainment through immersive theatre experience. It has been occupied with several firsts like comfortable seating arrangement in theatres, development of highest-resolution camera and its high-profile laser-projection technology.
IMAX Corporation is involved in sale, lease, manufacturing and designing of the projection system of theatre equipment. Its digital-projection system comprises of the digital-theatre-control system, a projector, 12 channels, 3D glasses-cleaning equipment and a digital audio system with a sound capacity of nearly 12,000 watts. The company also offers a suggestion on supervision, theatre planning and design of installation services.
Place in the Marketing Mix Of IMAX:
IMAX is a world-recognised brand and has its reach in most countries of the world. It has its headquarters base at Mississauga in Canada. By the end of mid-year 2016, its network included 1,102 theatres spread over sixty-nine global countries. IMAX has its operations in places like Los Angeles, New York City, Taiwan, Macau, Hong Kong, Japan, Mexico, Australia, Manila and Toronto. Most of IMAX theatres are built in a commercial multiplex to garner maximum audiences, while the rest are located at science centres, national parks, aquariums and museums. Screens of IMAX theatres are very huge with some of them reaching up to a height of nearly eighty feet to provide an amazing cinematic experience.
Price in the Marketing Mix Of IMAX:
IMAX is one of the leading companies in the world with premium products. It has adopted a skimming pricing policy because it realises that it has a competitive advantage over its rival companies. It is able to garner a maximum advantage in terms of revenue before its rivals can think of something similar. It keeps on evolving through innovative products and services and hence has been able to maintain its pricing strategy. The company has several options for collecting revenues. Operators who have permission to use IMAX brand name has to pay royalty and maintenance fees to IMAX Company.
IMAX charges either a fixed amount or a percentage as distribution fee for large-format films. It receives a percentage of the box-office receipts as its commission. IMAX screens are part of several education centres and it is a great revenue earner for the company as it is part of school excursions. Although the company has kept a reasonable pricing policy for education institutions but as it generates high volume its revenues are also greater.
Promotions in the Marketing Mix Of IMAX:
IMAX has been a recipient of several recognitions and trophies. It was selected for awards like Greater Toronto’s Top Employers and Canada’s Top 100 Employers. IMAX is concerned with the welfare of its workforce and has taken positive steps to keep them happy and satisfied. The company has a well-defined pension plan and end-year bonus program for its employees.
Its head-office has a personal theatre which can be used by employees and their family and friends. It offers several health benefits, 500 dollar wellness allowance and 1000 dollar additional amount for paramedical services to its employees. IMAX is a believer of brand awareness by participating in several events like sports, holiday parties and movie screenings. The company has a very descriptive tagline IMAX Is Believing.