Disney is a diversified American multinational mass media corporation. Disney was founded on October 16, 1923 by Walt Disney and his brother Roy O. Disney. The company is best known for the production of cartoons, animations and recently a movie Pirate of the Caribbean Sea. In 2006 Disney under the CEO Bob Iger, came up with hit movie cars that generated $462 million worldwide. Then he created Hanna Montana, High school musicals and the Disney princesses.
Bob Iger introductions have broadened Disney’s opportunities in the following ways; the creation of Cars franchise helps in cracking tween boy market which in turn will open another new franchise of science fiction adventures. Hanna Montana is another market opportunity that targets children that were created by Bob; he did this to push for new market for adult since the franchise was known to produce children film. Pirates of the Caribbean Sea were also the market changes since a new target market of adults came on board. Bob Iger priority was to broaden the Disney market which he did successfully by the creation of the franchises. He also increased viewership by the move of Disney channels from the premium to basic cable and also launching the local version to international or global market.
Bob Iger created a new brand to broaden the market the first one was Pirates of the Caribbean, first Disney film which was rated Pg-13. It played an important role in the refocusing their brand, it also expanded the market appeal to older kids and adults. The car's franchise provided the first step for Disney’s latest attempts to penetrate the boy market. Hanna Montana and High school musicals have created the girl market and this is known as the biggest since girls are known to enjoy more and it is more family friendly. The major disadvantage experienced by the new opportunities is the issue of the economy, the rising economy has made it difficult to stay put with only few franchise hence the need to create a franchise like science fiction.
Bob Iger came up with cross-platform that was very successful in the car franchise, they are distributed across Disney multiple companies and divisions like television, theme parks, and Disney Hollywood records music label and publications arm in Hyperion. They increased market especially after the purchase of Pixar. It meant that all of the Disney TV shows were based on Pixar. The main disadvantage was market so they had to start by finding new market to push for the Disney franchise. There was this issue of target market which was hugely based on children; this narrowed their success in the target market.
Disney’s market mix includes the purchase of Pixar this lead to improvement in Disney’s latest shows which were based on Pixar. It broadened viewership because it facilitated the move of Disney channel premium to basic cable. It also led to the launching of the local version to the global market. The second mix was the pushing of new channels like High school musical, Hanna Montana and the Jonas brother that broadened the girl market.
When Bob Iger took over as CEO he had so many plans but he first started by, buying Pixar that was used in the release of hit movie Cars. It was a great success since it sold $462 million worldwide. He shifted his focus on franchises and they are distributed across Disney many companies, like the Disney channel, ABC among others. I totally agree with this because the flat platform was costly since its target was limited only children, but when Pixar was bought other franchise like cars and pirate of the Caribbean increased the target market to even adults. The components like Hanna Montana opened market to even girls and in turn Disney market increased.
Reid, Robert D, and David C. Bojanic. Hospitality Marketing Management. Hoboken, N.J: John Wiley & Sons, 2010. Print