Marvel Enterprises Inc, is famously known for one of the most recognizable collections of characters in the entertainment industry. The proprietary library of over 4700 characters contributed to the success of the company, in which the characters have been featured in various media forms for over 70 years. However due to various issues, Marvel was forced to file for bankruptcy in the late 1990s. Nevertheless after Toy Biz, Inc. acquired the company out of bankruptcy, it formed a new board and a new strategic direction. The three key strategies that can be identified to Marvel's success are: 1) monetizing the content library via licensing characters for the use of media products and consumer products i.e. motion …show more content…
By being involved in the back-end of the motion pictures, creative stories lines can be formed with strategic partnership with film studios. By having the best and brightest from Marvel will create content that is creative and innovative by the successful Enterprise. This makes sense as Marvel does not have the expertise in mastering an end-to-end production of a motion picture. By leveraging its core strengths in story-writing and with film studios, further revenues can be gained. In addition by being involved in the marketing, Marvel will be able to expand and gain new licensing contracts through various mediums. i.e. partnering with iconic brands
Next Steps and Timing
1) Firstly, over the span of a year: Marvel should create a strategy to group/pair lesser known characters together and with "blockbuster" characters. By creating shorter films and video and bringing them into life on television will cause awareness and consumers to resonate with the creative story and attributes associated with these characters. Once these characters have been launched, Marvel will determine the popularity generated by new characters to determine the career and future prospects of the characters i.e. Motion film. Providing an entire experience to consumer of lesser-known characters via the Internet, they will be able to explore the characters in great depth.
2) Secondly, to create strategic partnership (2-5 year) with film studios, Marvel must focus on