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FallaciesIntroduction
Old time productions’ has some claims that need immediate analysis. Old time is a company dealing with production of classical movies for a long period. The company has been in business for 75 years and it deals with merchandise like toys and movies. The new management has an interest in reaching to younger audience by providing items for younger viewers. The company needs an analysis to determine if the new product is beneficial and the best way to deal with it without changing its brand.
There are some claims that are presented by the company. First, the company specializes in production of classical movies for 75 years. Second, new management has an interest in production of newer movies to reach young generation. Finally, there need to be an analysis to the market to determine whether it is beneficial to pursue the product. Old time production needs to answer the questions that accompany the claims before finishing the analysis. The company needs to understand the questions asked and think critically to the proposal of the new management. In addition, they have to understand the answers to ensure continued success of the current business and proposed changes to be made in the business. These questions need to be answered satisfactorily or else the business will loose the momentum they have enjoyed for the past 75 years.
It is upon old time production to make a decision on whether to continue manufacturing toys that relate to vintage films or they need to diversify and produce merchandise relating new cinemas. The decision needs to be made in that the company is experiencing flat profits. For the company to sustain their customer base and ensure the ongoing concern of the company, the company needs to understand that there is a declining demand of niche products that are served to limited audience. Adding new products from films that are more recent to their vintage products will give them an opportunity to serve a public with different needs than those with previous generations. It will also help the company to identify with large audience.
The company must consider their existing customers are and those they are wishing to serve by performing a marker research on current and potential customers. They also need to determine the age group of their customer base to determine what the younger generation is likely to look like. In addition, the company must have an understanding of age films on their current products and define a line between vintage and newer products to determine what is best to offer. Understanding these dynamics will give the company an opportunity to know their current customers and as they diversify to younger population. Another consideration for advancing the solution of the movie is to understand that offering products from newer movies does not mean that they are changing the roots of the company.
Conclusion
The most important issue to the company is to ensure that they remain in business and generate profits to the owners as well as providing paychecks to the employees. Adding new products to their lines will ensure growing populations interested in their offerings. This will ensure expanding offerings to a period is more current than existing product lines. This will not change the branding of the organization but it will allow everyone to be situated for success and profitability in the 21st century.
