Ib Extended Essay

4823 WordsNov 1, 201020 Pages
To what extent does Ocean Park’s marketing strategy for its re-development phase meet the preferences of its customers? Session: May 2010 IB Subject of Essay : Business and Management Supervisor Name : Mr. Philippe Cosentino Word Count : 3902 Abstract In this essay, I shall be responding to the research question: “To what extent does Ocean Park’s marketing strategy for its re-development phase meet the preferences of its customers?” The purpose of this essay is for me to assess whether Ocean Park have fulfilled their marketing aspects during the re-development phase. The scope of this essay encompasses the marketing mix, marketing strategy and market research which contain primary and secondary research.…show more content…
The park, a non-profit organisation, is operated by OP Corporation, a statutory board, offering affordable animal education and entertainment. In its current state, OP is responsible for its own income and is permitted to use commercial means to facilitate its operations. Currently, OP, an icon of Hong Kong supporting its image as a premier travel and leisure destination, is undergoing a significantly large re-development phase to meet its business objectives of becoming a world class theme park. A good marketing strategy will identify, anticipate and satisfy consumer requirements profitably and the appropriateness of this strategy will be investigated here. Figure 1 – Bird’s Eye View of OP The re-development phase Through re-development, OP is in the process of doubling the number of attractions including in-house accommodations as it aims to realize its objectives and goals and strengthen Hong Kong as a premier tourist destination. This refurbishment plan is expected to incur an expenditure of HK$5.55 billion (US$710 million). The first attraction to have opened was the Sky Fair, with its main attraction being a hot-air balloon. By the year 2015, OP will be linked to the Mass Transit Railway which will make the park more accessible. The re-development can be justified considering the strong competition from Disneyland Hong Kong, and the impact of the 2008/9
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