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8/6/2019 bea assgnemtn
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2. Indentify a local firm that has enjoyed great growth in recent years. To what degree and
in what ways do you think this firms success resulted from taking advantage of favorable
condition in its remote, industry and operating environment.
Quest Entertainment:
Business people never do different business but do the business in a different way.
There were days when Kathmandu's movie-goers were herded into creaky seats, got pushed and
shoved, and had to tolerate rowdy crowds.
All that changed with the revamp of Jai Nepal and Kumari cinemas in 2000. Now, Quest
Entertainment takes the movie-going experience another leap forward with the launch of QFX:
the first movie exhibition brand in Nepal to be unveiled with Central Cinema in Civil Mall, the
first all-digital multiplex in Nepal.
"The idea behind QFX is to give a consistent brand experience and quality assurance to the
audience," says Bhaskar Dhungana of Quest Entertainment.
Dhungana and his partners, Nakim Uddin and Rajesh Siddhi, could have tied up with an
international brand, but decided to go the difficult way.
"We did not want to sacrifice our identity and perhaps half the revenue only for a logo and good
management. Our experience in Jai Nepal and Kumari has given us the confidence that we are
capable of building a globally competitive brand ourselves," Dhungana told Nepali Times.
This is organic growth from the renovation of Jai Nepal, ten years of running quality movietheaters in Kathmandu, film production and distribution, and even helping the digitisation of
cinemas across the country.
With QFX, the group wants to build a modern Nepali brand with global appeal. "QFX exudes
confidence, adventure and the spirit of contemporary Nepali youth," explains design consultant
Nabin Joshi who helped with the branding of the new venture.
Quest has invested Rs 120 million in launching QFX at a time when most investors are shying
away from Nepal. Central Cinema uses state-of-the-art 2K projection and sound technology that
is the first of its kind in the region.Central has three theatres, all 3D enabled, a bowling alley, food court, restaurant outlet, a play-
area for children, and is built with handicap-friendly features. Security standards that are
consistent with a global exhibition brand have been followed.
"Business is fraught with risks, but what we do know is that quality sells in Nepal," explains
Dhungana, "we renovated Jai Nepal at the peak of the war, nobody thought it would work but we
proved that the market existed."
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Talking about the QFX¶s operating and industry environment these factors play a crucial role:
1) Competitors: In a single Kathmandu valley only there are more than 100 cinema halls
but QFX has its own importance. As the price and the quality that it is serving is of
international standard it has made its unique presence in the market. It was the first
cinema hall providing 5.1 digital dolby sound, which makes it different from others.
2) Financial institutions: while doing business each and every business needs the support of
financial institutions because no any single business organizations have the unlimited
resources. And financial resources will never be enough. As there are so many
commercial banks for supporting the business QFX also has taken benefit from it. It has
tied up with various commercial banks and is expanding its business to newer limits.
3) Consumers: In those days when QFX highly charged the ticket price it is said that the
business won¶t be doing good but after the operation peoples were wrong. Today is has
become one of the successful business. From this we can say that the market and
consumers for this type of entertainment business has a huge scope but it matters how we
deliver.
4) Suppliers: There are so many suppliers in the business. Day by day new and new movies
are coming in the market. So the supply side is huge. And it is said that this business will
never run out of business if we can adapt change and moves as per it.
5) Media: As being the 4th
eye of the government media plays the important role. It gives
the true picture of the market and makes people aware. It has a nice bonding with themedia personnel¶s and is doing well.
This is how a business and place has changed itself from scrap business to the most
successful business in a decade.