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Munjya Box Office: Dinesh Vijan, Pen Marudhar opt for an excellent pricing strategy; Case study for small films
Hopefully, Munjya pricing is actually that light at the end of the tunnel that producers of mid and small-scale films were looking for. Details
The Dinesh Vijan and Amar Kaushik produced Munjya starring Abhay Verma, Sharvari and Mona Singh has taken a very good start at the box office in India. The horror comedy has surpassed all expectations and is headed towards the Rs 3 crore mark on the opening day. While most optimistic prediction prior to the release was around the Rs 1.75 crore mark, the film has overperformed with strong walk-in audience. The early response from the cinema hall also seems to be on the positive side, which should escalate the business further through the weekend.
Munjya pricing policy helps the film in opening day business
The opening day business has started a conversation in the industry as to what has worked for Munjya to create excitement in the audience to buy the tickets. The answer is simple. The makers managed to create awareness around the film with an intriguing teaser followed by an honest trailer. Horror comedy has a loyal audience base in India and the pre-release assets managed to reach to the set of target audience.
Dinesh Vijan and Pen Marudhar went ahead by taking a rather brave decision on the pricing front as the film is capped at Rs 200 at some of the most premium centres of India. The average price in the multiplex chains for the opening day is around Rs 145, which is very affordable for college-going students, who also happen to be the target audience for the film.
Nominal Pricing the way forward for small and mid sized films?
The four P’s of marketing include – product, price, placement, and promotion – and it’s the right combination of these that creates an impactful marketing campaign. Munjya team got it all right and the results are on everyone to see. The pricing is not as low as the National Cinema Day, nor is it out-of-reach for the section that it is appealing to. The makers have struck a right balance and the film is now reaping rich dividends on opening day.
The right pricing strategy is always a better approach to releasing a feature film than gimmicks like BOGO and Corporate Bookings. The idea for producers should always be to get in a section of audiences inside the cinema halls on the opening day, as word of mouth can travel only when the content is consumed and most of the small films sink without a trace as the pricing alienates the audience from consuming the content. Going ahead with weekday pricing on Friday and then switching to the weekend rates helps in multiple ways, which also includes bigger jumps on the weekend due to gradual hikes in prices and better holds on weekdays due to steady price structure from Friday to Monday.
The approach to pricing of Munjya is dynamic, as there is a little hike on Saturday, but that’s again a smart move as the weekend audience is not as price-sensitive as the Friday audience. Pricing at Rs 99 is not a sustainable model in the long run, but the nominal pricing policy is certainly the sweet spot that makes it a win-and-win scenario for all the stakeholders. Hopefully, Munjya pricing is actually that light at the end of the tunnel that producers of mid and small-scale films were looking for.
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