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FORMATIVE ASSESSMENT 2 Movie industry's future uncertain More businesses are facing the wrath of the coronavirus and survival is increasingly doubtful. It is questionable how movie theatres will survive when audiences can now stream new releases. Some movie studios and distributors have taken a direct hit from the pandemic. Warner Brothers made waves recently when it announced that all of the movies it will release in 2021 will be available on Warner's HBO Max subscription streaming service - on the same day they premiere in U.S.A theatres. If this practice becomes the norm for studios, can movie theatres survive? Some analysts have studied the practice, focusing on recent changes in South Korea, and conclude that the change is unlikely to harm theatres nearly as much as they fear. Some experts believe that it is now the opportunity for the movie industry to revamp the business models to better meet the demands of the digital world. The entry of technology giants - Apple, Amazon and Netflix have fuelled speculation of a tech-giant takeover. Silicon Valley has the capital to buy out floundering theatre franchises and incorporate them into their existing integrative business models -- and doing so could dramatically reorient the movie theatre landscape. One thing seems certain; movie theatres will look vastly different if they survive COVID-19. You have been engaged by The Galileo Open Air Cinema group to offer expert advice on the trends in the movie industry. Your input on issues below will form part of Galileo 2022 marketing strategy. Answer ALL the questions in this section. Question 1 (25 Marks) Just like a product going through a life cycle (Product Life Cycle), the movie business is going through an industry life cycle. Citing significant milestones and relevant marketing participants, discuss movie industry life cycle. Question 2 (25 Marks) Read on the Family life cycle model and discuss how this model can be incorporated into the movie industry marketing strategy to improve sales. Question 3 (25 Marks) Service distribution can be delivered through physical and/or electronic channels. Investigate how movie distribution options have transformed over time in trying to keep up with changing consumer needs. Question 4 (25 Marks) For years 2020 and 2021, coronavirus has dictated how business including the movie theatre business should operate. Review current literature available on the internet to opine what the movie business will look like in the post-coronavirus era.