Star Wars has strong fan base making
it a strong brand in the film industry. It has competitive advantage in this
regard and is considered a rival franchise to that of Star Trek which is the
first outer space story. Star Wars has kept its fan base strong and it keeps
growing due to regular engagement among its fanbase using various events and many
other merchandises. Characters which are in the movie are legendary like Master
Yoda who in popular culture was selected by Empire magazine as the “25th
greatest movie character of all time”.
Star Wars saga have a significant cultural
impact on modern popular culture like references are casually made in many
countries to the main characters with the assumption that others will
understand the reference. It has high pricing power because of the top actor’s
engagement in the movie coupled with millions of followers worldwide.
Customer loyalty is evidently visible
as when Star Wars’ creator George Lucas sold his empire back in November 2012
to Disney and handing it all rights to the Star Wars brand and properties, for
the deeply loyal Star Wars fans this information caused more of anger rather than
Before 1978, movies existed on their
own creative merit, but Star Wars reformed that. The film was co-promoted with
Burger King through merchandising and commercials, comic books, games and toys were
sold resembling the characters in the movie. Hence these unique products became
the strengths for this saga.
Previously created by George Lucas and
then passed on to The Walt Disney Company, the movie has had huge brand names
attached to it that add to the popularity along with other brands endorsing it
like Subway and Volkswagen.
The story of Star Wars, despite all
sorts of different accents and emphases from culture to culture, remains
fundamentally the same and which conveys some pretty basic truths about nature,
the psyche, human development, and God. The people are growing old with the
almost same storyline and nothing new and exciting to be offered. Just like the
previous movies, the new ones have the same story plot and no catchy themes for
the new characters and music. People were happy with George Lucas’s movies,
until he stopped making new films and began “messing” with his successful ones
over and over again.
Some bad acquisitions have been
encountered during the Star Wars saga. The Disney’s purchase of this film was a
$4 billion deal, to which if you add up the movie tickets, action figures, and
limited-edition Coffee-mate creamers, billions will come back to replace the
billions spent. This was a cheap deal for Disney.
Hiring of new Indie directors who have
lack of experience contrasted with their overconfidence, create a toxic mix
which makes them difficult to work with.
An increasing demand for such films
among the people is a huge opportunity. Success of other franchise such as
Avengers, Dark Night, Lord of the Rings are a proof of this. Also, since the
sequels are in trend and Star Wars being such an old saga, each new sequel is
awaited with huge excitement and enthusiasm.
Improvement in the technology paves
way for a better visual treat to movie fans. This will help Star Wars too, in
better visualisation of the scenes and impact of them. Theatres now have more
IMAX, RealD 3D, and 4D theatres which give incredible experience to the fans.
Being owned by Disney now, this
acquisition puts the marketing power of Disney behind the Star Wars franchise,
opening opportunities for TV shows, merchandising and theme park concepts.
There are many new market segments
that can be targeted and global expansion to new countries. These will work out
well owing to the huge popularity of the franchise.
Due to the emergence of online reviews
and the changing tendency of consumers to read reviews before watching the
movie, Star Wars movies can lose money in the box office if proper
consideration is not given to the story and its execution.
Another threat for Star Wars is from
the same quarters as it is for the movie industry. Many fictional movies and
their sequels are being made which can affect the fan-base by shifting their
interest. Major competitors are Marvel Studios, DC Comics. Franchisees such as
Harry Potter have made fans of Star Wars to shift loyalty. Any new franchisee
may do the same.
Companies such as Netflix coming up
with their own shows leading to shift and disruption in the movie industry. Netflix
has courted millions of subscribers worldwide with shows such as “House of
Cards,” “Stranger Things” and “The Crown”. Securing content for Disney’s
streaming service should be taken up like a live-action “Star Wars” TV show
will be a main attraction of the Disney-branded streaming service set to launch