The Entertainment Industry

898 Words4 Pages
Entertainment industry refers to the sector that provides fun activities and leisure time to customers. It’s a very massive sector, and it is growing domestically and globally in the recent years. There are many external factors that may influence the industry positively or negatively. Political and economic instability in the recent years may be problematic for many projects. In addition, firms should consider the changing in the customer’s tastes and demands, and should offer new products with innovative ideas that meets with their needs. As tourism in UAE is increasing, they should offer products that attract foreign demand as well as local demand.
The entertainment industry is facing some threats such as low switching costs between companies
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This is in order to increase its sales and standing. We recommended the project of Waterways City by analyzing alternative solutions with various criteria. The idea is about making a city of connected waterways, people travel to different areas using safe boats. The idea is implementing the Miral's vision of creating a special experience. It also complies with their value of representing the UAE culture. It solves the strategic issue with increasing number of visitors and customer’s loyalty. As people will find special place with different available choices. Adding to that, the idea is environmentally friendly and sustainable since we don’t use cars and we depend on the solar energy.
Market Analysis
The entertainment industry is a broad market consisting of various active activities as well as passive activities. The demand for its products and services is high, therefore, there is a lot of opportunities for growth and development. However, other external or independent factors may influence the industry. This section examines the attractiveness of the industry by using tools that measure the external environment influencing the industry. The tools used include PEST-D analysis, Porter’s 5-forces analysis, strategic group map, and key success factors.
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As the vision of 2030 is to make Abu Dhabi one of the destinations for tourism in the world. The government of the UAE supports the entertainment projects, especially in Abu Dhabi as it’s the largest in size compared to the other 6 emirates. According to (Tourism and Real Estate Opportunities, n.d.), “Abu Dhabi Economic Vision 2030 involves, a divarication plan into tourism - centric development which includes investments from mixed-use tourism attractions, to sector support operations and services”. As a result, it is a good opportunity for companies to start their new projects.
Moreover, copyright is another point of concern globally. In the middle east, copyright and intellectual property are not well protected (Turkewitz,2015). As a result, companies in the leisure sector may not be encouraged to come up with new ideas as it be stolen easily. However, ideas and projects of companies in the UAE are safe from the fear of copying the intellectual property. This is because the UAE protect the copyright under Copyright and Authorship Protection Law No. 7 for the year 2002 (Copyright,

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