Module 3- Walt Disney Company

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Middle Tennessee State University *

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Marketing

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Feb 20, 2024

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1 Module 3: Staying Ahead of the Curve Assignment The Walt Disney Company MBAK/M – 6915
2 The Walt Disney Company has found a unique position in the marketplace to be successfully launched. For many, Disney is "The Happiest Place on Earth" and is advertised as where dreams come true. There is a dynamic interaction between strategic management decisions, strategic marketing advantages identification, and innovation as a path to success. The Walt Disney Company uses intelligent management decisions to meet the budget, predict the future, think strategically, and create the future. Marketing strategies are implemented to target the audience while promoting products and services. Disney clearly identifies marketing advantages that strategically develop growth, expansion, and long- term success for the company. Even though finding the correct marketing strategy can be challenging, Disney uses their failures and turns its innovation into further success. Disney promotes their products and services to a targeted, broad audience. The company's appeal applies to all age groups, races, and cultures. Not only does the company sell ideas, but the stories behind those ideas attract customers. Customers draw to the story behind these magical characters, theme parks, and other Disney- related adventures. This helps the company understand its target audience and create a brand for the business. A lack of innovation is a fundamental problem that the Walt Disney Company does not have. Disney makes innovation a priority. Their change for future products and services is admirable. Once the company is committed to an idea, they are ready to take that thought and build an investment. The Walt Disney Company has several parks around the globe, and all parks share the same idea of being friendly, consumer-focused, and immersive in the world of Disney. At each park, the goal should be that: adults are happy to see the children experience Disney and enjoy a day from work; children get to meet their favorite
3 fictional heroes come to life, and the park is experiencing healthy financial statements. The theme parks and resorts are a physical representation of Disney and what the guest experience offers. There should be a commonality between the parks. The company has many strengths and vast opportunities to expand those strengths throughout an ever-expanding global market. As a weakness, Disney has a constant employee turnover rate and costly investments. A threat for the company lies underneath global competition. Based on Porter's Generic Strategies, the Walt Disney Company uses product differentiation to gain a competitive advantage. Differentiation strategies are the creation of a service or product that offers uniqueness. Disney has a licensed brand that has a unique name, meaning other suppliers cannot be copy-cat without the company's permission. The company develops unique products and services that are difficult to imitate, which customers seem to believe have desired qualities. Disney diversifies their products and services, which has caused the company to expand rapidly. The Walt Disney Company targets an all-aged audience by creating an emotional connection between its customers and themed parks. This develops a competitive advantage for Disney's pricing by their services offering uniqueness. This is the best strategy for the company since they have access to scientific research, highly creative staff, and a strong reputation for innovation. As stated by Elgan (2016), "They want to keep their theme parks fresh and new, thrilling visitors with the spectacle they cannot see anywhere else." Disney has differentiated itself by adopting customer-friendly practices in all activities and aligning itself with customers' values. The strategy has attractive diversified
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