Theme Park Industry on the Gold Coast

Euro Disney marketers have recognized a trend. People are going to theme parks during the weekends for adults as well as children entertainment. Indeed, there is an existing need for entertainment of this kind. Therefore, an opportunity exists in the European market that Euro Disney could have taken advantage of.

We are here to discuss the “Theme Park” project that we were set to complete. To date we are 40% complete with the project. We currently do not have any actual costs associated with the project so we can assume that they are in order. However, I think that we should still look into the matter since we were given a budget guideline to follow.

When it comes to judging the alternatives with the most important factors of profit maximization and competitive advantage, the recommended option to become focused on family diving vacations is much stronger than the option to specialize in shark diving. (Displayed in detail in Exhibit 2). Partnering with Rascals posts the highest first full year profits of $166,000 compared to the adventure focused and cost efficiency alternative that posts a first year profit of $112,000. Further, the partnering with Rascals has projected revenues that are sustained further out in the future because of the competitive advantage gained when moving into the family oriented diving segment rather than the adventure oriented segment. The difference in estimated revenue between the two in 2011 is approximately $620,000 with the family specialization solution

This report is designed to introduce an understanding of market segmentation and marketing strategy integrated with the exiting business - Dreamworld. It clarifies how Dreamworld - the largest theme park in Australia segments its market, and how the segmentation is reflected in its marketing strategy.

Pricing and promotion strategy: Universal Studio offers savings specifically for its online tickets, and flexibility to print tickets at home and straight to the gate park. Coupon books are as well offered for the multi-buyer tickets. Additionally, NBC universal embarks expansion plan to enlarge its customer pool. However, there is still non-added value in the value chain, technology is really essential to innovate products and thus set competitive prices strategically.

Among these, a few in particular, is extremely crucial in the overall process. Situational analysis is one of the important steps as it creates an environment for the planners to understand the condition in which Disneyland is having. The different types of situational analysis include general environmental analysis, competitive environmental analysis, and the SWOT analysis. Analysing competitive environment using the Porter’s 5 Forces can be done to understand the market of current before the setup of the new themed area. Only after situational analysis, Disney can then establish goals and objectives that are relevant and realistic to the company. A good situational analysis can also discover and improve certain parts of Disney that may be previously under developed. (Boundless, n.d.)

Porter’s 5 forces model allows to analyse the factors outside the Cruise industry that influence the nature of Carnival competition within it, the forces inside the Cruise industry that influence the way in which Carnival compete, and so the company’s likely profitability. With an understanding of where power lies, Carnival can take advantages of a situation of strength, improve a situation of weakness and avoid taking wrong strategies. Porter has identified five competitive forces that shape every industry and every market: bargaining power of suppliers, bargaining power of buyers, threat of new entrants, threat of substitutes and rivalry among competitors. A sixth element has also been added

Disney World is an a magical park. This magical park is very famous and it’s known to everyone in the world. Tourist who travel to United State, number one must see places is Disney World. How exciting would it be, if instead of traveling to another country to visit this magical place, the magical place comes to your country. Today’s project is about bringing Disney World to Brazil, city of Sao Paulo. To decide if this is an ideal place for Disney World, I have to determine all the aspects of international business. Then I am going to analysis the external environment, which will give me an idea if my project will succeed.

The amusement park Busch Gardens is confronted with a few marketing challenges which include the need for more direct and interactive marketing strategies for the park through its marketing strategies throughout the marketing mix. This will be done by assisting Mr. Dan Dipiazzo and his team with the revamping and providing several recommendations to overcome the obstacles the Busch Gardens team is facing with their marketing issues.

Walt Disney’s initial purchase of land caused property values to skyrocket. Governmental strategies allowed Disney to maintain enormous control over the area while still giving incentives to state and local governments through additional tax revenues and name recognition. Competitors have sprung up around the area, ready to capitalize on the enormous success of the initial theme park. This consistent development required countless employees, so home values, salaries, and income taxes have played substantial parts of Florida’s growth. Overall, Walt Disney World has allowed the Floridian economy to grow substantially through many different avenues.

Competing amusement parks has upgraded their attractions to attract more consumers and Disney is has recently strategizing this approach to a more concentrated perspective. This can ultimately lower their revenues until the plan is complete.

Some of the strategies that can be applied include inviting all stakeholders to join the quest for new ideas, involving the theme park customers in the exercise of generating new ideas, involving suppliers and benchmarking the methods of idea creation. First, the appreciation of various stakeholders in the idea generating process will mean that the company has to empower its employees. Employees will act as the link between the end-consumer and the internal organizational operations. The management will have to rely on the advice given by their lower level employees who frequently engage with the customers. The top management should not participate in new product developments unless they are part of the customer-interaction team.

Given that a vacation to a theme park is more of a luxury good and not a necessity, people will not spend their money on it unless they have extra disposable income or high purchasing power for they would rather use the money on basic necessities first. As such, demand for a vacation at a theme park is highly price elastic. This means that when prices increase, demand for the product will decrease more than proportionately and the organization will experience a decline in profits. On the other hand, when prices decreases, demand for the product will increase more than proportionately and the organization will experience an increase in profits. As such, theme park organizations need to be very careful about their pricing strategies for they can result in drastic effects on total revenue and profits which the organization can earn.

Yes, because 4 biggest players which are The Walt Disney Company,Time Warner’s Six Flags Corporation, Paramount, Anheuser Busch and Cedar Fair have together more than 80% of market share.

Universal Studios Singapore (USS) (Appendix 1) is a globally-recognized brand, a local theme park located within Resorts World Sentosa which had a grand opening on 28 May 2011. It is the first Universal Studios theme park to open in Southeast Asia. The park is 20 hectare and the official park map was revealed to the public on 20 October 2009. The park features 24-themed rides, of which 21 are normal rides, 6 roller coasters and 2 water rides.(Wikipedia,2015)The 24 rides and shows segregated by 7 themed zones gives visitors a taste of different movie experiences all within one park, in an organized fashion. Universal Studios Singapore is owned by Genting Group on 8 December 2006 as they won the bid to build Singapore’s second integrated resort.