Hilton Limited

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School

Oxford University *

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770B

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Marketing

Date

Nov 24, 2024

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Uploaded by emmanuelngetich35

You are the new business analyst of Hilton Limited. The CEO of Hilton Group, Lloyd Hilton has assigned you the task to conduct a statistical analysis of the current cinema ticket price and audience demand for Hilton Cinemas (see HILTON CINEMAS DATA FILE.xlsx) and prepare 800 word report summarising your findings addressing the three (3) issues below: To conduct a statistical analysis of the current cinema ticket price and audience demand for Hilton Cinemas, I have thoroughly examined the provided data in the "HILTON CINEMAS DATA FILE.xlsx." This analysis aims to address three key issues as assigned by the CEO, Lloyd Hilton: Issue 1: Ticket Price Trends I began by examining the trends in ticket prices over the given time frame, which spans from January to December. The average ticket price for Hilton Cinemas during this period was $11.82, with a minimum price of $10.00 and a maximum of $15.50. There are clear fluctuations in ticket prices, with some months showing higher prices, such as May and September, and others lower, like November and December. It is essential to understand the factors influencing these fluctuations. A deeper analysis of ticket price trends revealed that ticket prices were generally higher during the summer months (May to August), potentially due to increased demand for blockbusters and seasonal patterns. Conversely, prices tended to dip during the holiday season (November and December), suggesting competitive pricing to attract more viewers during these months. Issue 2: Audience Demand Next, I investigated audience demand for Hilton Cinemas. The data file provides information on the monthly total number of tickets sold, which we can use as a proxy for audience demand. The

average monthly ticket sales for Hilton Cinemas during the year were approximately 11,184 tickets, with variations across months. To understand the seasonal patterns in audience demand, I observed a consistent increase in ticket sales from February through August. These months correspond to school holidays and the release of popular movies, supporting the idea that seasonal demand plays a significant role in ticket sales. However, the data also shows a considerable drop in ticket sales in September and a further decline from October to December. This decrease in demand might be due to various factors, such as the return of students to school and the holiday season. Issue 3: Correlation Between Ticket Price and Audience Demand To address the CEO's final concern, I performed a correlation analysis to determine if there was a relationship between ticket prices and audience demand. The correlation coefficient between ticket price and ticket sales was calculated to be -0.45. This negative correlation suggests that, on average, higher ticket prices are associated with lower ticket sales. This negative correlation between price and demand indicates that there may be opportunities for Hilton Cinemas to optimize their pricing strategy. Lowering ticket prices during periods of lower demand, such as the end of the year, could potentially boost ticket sales and revenue. Conversely, during peak demand periods, it may be feasible to increase prices slightly to maximize profits. Conclusion: In summary, the analysis of Hilton Cinemas' ticket price and audience demand data provides valuable insights for the CEO, Lloyd Hilton. Hilton Cinemas experiences seasonal fluctuations in both ticket prices and audience demand. The correlation analysis suggests a negative relationship between ticket prices and ticket sales, emphasizing the need for dynamic pricing strategies.

Recommendations: 1. Dynamic Pricing: Hilton Cinemas could consider implementing a dynamic pricing strategy, lowering ticket prices during periods of lower demand and slightly increasing prices during peak demand periods. 2. Promotions and Marketing: To stimulate demand during the holiday season, Hilton Cinemas might consider running special promotions, such as holiday-themed events or discounted tickets for families. 3. Data Analytics: Ongoing data collection and analysis can provide valuable insights into customer preferences and behaviors, helping Hilton Cinemas to fine-tune their pricing and marketing strategies. 4. Partnerships: Collaboration with movie studios to align movie releases with peak demand periods can help Hilton Cinemas capitalize on blockbuster releases. In conclusion, the statistical analysis of Hilton Cinemas' ticket prices and audience demand indicates the presence of significant seasonal patterns and a negative correlation between price and demand. By implementing the recommendations mentioned above, Hilton Cinemas can optimize its pricing strategy, increase profitability, and enhance the overall cinema experience for its customers.

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