Marketing Plan Essay Example for Free

Marketing Plan Essay World Wide Wonderland is a theme and amusement park business offering world-class experience to families, students and foreign tourists around Negros Occidental. Being a theme park, we offer a variety of products. And since it is called â€Å"World Wide Wonderland†, the company will take you to the different parts of the globe. The organization’s major products would include the World Adventure Coaster, the European Castle Hotel and The Barangay Filipino Museum that can satisfy the customers’ recreational needs as they step into a whole new world of fun, information and adventure and that will serve as a fresh new way to enjoy the day with your families, friends and co-workers. World Wide Wonderland is renowned for their convenient and strategic location in Talisay City, Negros Occidental of which is a growing city in terms of economy in the tourism industry. Also synonymous are the services that provide high prices to go along with premium quality and the wide range of other offerings including restaurants, pools, zoos, information buildings, camping sites and many more that are available in the park’s enjoyable, stress-relieving and safeguarded settings. And through the company’s best efforts in promoting the products in print, radio, television, public relations and personal selling, this will increase the customers in large scales. Having those products, the company aims to provide a globally-renowned entertainment and bring delight to its valued customers especially families, students, and foreign tourists here in the Philippines. Other than that, the organization also wants satisfaction from its employees and, at the same time; focus on its environmental responsibilities. World Wide Wonderland has a World Adventure coaster targeting the youth (specifically students) to enjoy a tour like the customers are travelling to different countries around the globe. For its European Castle Hotel, the company targets families and unwinding professionals that wish to have an overnight stay in the said place. And lastly, the Barangay Filipino Museum that would mainly target foreign tourists so that these people can be informed about all of the facts of Negros and the rest of the Philippines. Differentiating the type of business service offered, from that of the competition, will assist not only in building the theme park as a whole, but will attract more customers, who require a higher level of quality service and recognition than they can receive from other tourist spots. This will provide World Wide Wonderland with an opportunity to step up as regards servicing families, students and tourists with a world-class experience. Satisfied guests are critical to the success of themed visitor attractions. The backbone to having satisfied guests is good management and this is what the company in doing. Unlike most companies, we introduce our customers with utmost care and support services. CURRENT MARKETING SITUATION (TRENDS) The theme and amusement park industry has been around for more than 50 years and, like any other industry, it has evolved through the years to help guests escape from real life, if not for a few hours, at least for a few moments on its attractions. The theme park market has reached maturity and as time passed by. There have been many trends over the years and as the decades went by, theme park operators began to realize that it was not just thrills that would keep bringing back their customers. Applying themes to their attractions would help as well. Sure, a person could build the fastest roller coaster, but if another person added a theme or story to it then you added a dimension to the attraction that made it unique. Putting a personality to a roller coaster ride thus became a trend that still holds today (Scopa, 2005). One of the trends that caught on was the acknowledgement that guests could easily become bored with an attraction or a theme park. To many people boredom is related to predictability. Many guests loved the anticipation of experiencing a favorite moment in an attraction, but there was always that need for adventure that would creep in as well. Nothing is more constant than change in attractions industry. The company is witnessing the transformation from theme parks into integrated resorts to cater to staycation trends wherein people would want to stay overnight in a certain place. Parks operators and manufacturers are also employing new strategies to focus on innovation and reinvestment in guest experience to serve increasingly discerning market. Moreover, theme parks take into consideration several parts of the society when making future plans like the socio-cultural aspects. The children, teenage subcultures and their families are increasingly powerful consumers so it is important that the company gives them world-class entertainment. On the contrary, people will grow older that is why we need attractions to encourage and entertain elderly people. Theme parks are an important part of the whole tourism and recreation industry. So they are connected to air, bus and car travel. These types of businesses must react environmentally friendly as far as possible. At least they will have to be involved in environmental organizations and conservation themes. All these parts which are decisive for the future of the business belong to the Macro environment of the company. Technology is getting more and more sophisticated. This is going to influence theme parks and their attractions in a crucial way. With the growing use of high technology products, theme parks will be constructed around virtual reality, simulations and spectacles creating conditions of hyper reality. Amusement park owners can have cost effective methods, reach hundreds more people, places photos of the park on their website and offer the ability to communicate with prospective customers in real-time, which consumers really like. Below is the summary of the main micro and macro environmental trends in Theme and Amusement parks. 1. Everything will be based on a scripted theme. The attractions reflect the theme and intensify it. 2. A diverse array of components assembled to produce a wide range of experiences. All the senses of the visitors should be attracted. With the help of lots of different attractions, they will make hundreds of various world-class experiences. 3. Theme parks will be converted into hotels, resorts, etc. 4. As the world changes, theme parks must act in an environmentally friendly way. 5. With the growing use of high technology products and online advertising, theme parks will be more exciting, sophisticated, vivid, and real. An amusement park usually has a wide variety of fun entertainment for the general public. Also called an amusement park, there are many thrilling rides and other activities for the whole family to enjoy. Most of these parks have rides available, small shops, animal attractions, arcades and lots of places for people to dine and drink. Generally, an amusement park will be at least 200 acres in size. Some of them offer hotel rooms and amenities so that people can stay indefinitely. There are usually fees for parking and admission. A theme park might be available all year long or it might open only during certain seasons. The main point of this business is to generate profits and the business will gain profits through its services offered. Fees from the entrance, food, establishments and sponsors who will be more than willing enough will make excellent profit so it can have good ROI. About 55% of the income brought in at an amusement park comes from the fees charged for admission. The rest of the profits are a result of the sale of food and products that people buy in the little shops. The profits for these parks depend primarily on how the economy is doing. Most of the rides at an amusement park are operated by computers now, so they are easier to take care of and do not need constant maintenance. This saves an amusement park owner a lot of money each year. Marketing for theme park owners, on the other hand, can cost a lot of money each year. A lot of these business owners use television marketing, direct mail marketing and radio ads for most of the marketing methods because these are the most effective advertising tools in promoting the business. Channel. The business involves both retail and wholesale but focuses more on wholesaling due to the fact that many other businesses revolve inside the theme park. The business focuses on wholesale to the fact that it sells goods or services to those buying for resale or business use. This would involve selling and promoting, buying and assortment building. Another is that many owners of amusement parks have switched channels on theme park marketing and have moved to Internet marketing. This kind marketing involves consumers that are now online; shopping, paying bills, buying products and looking for entertainment and vacation ideas. Profit The average profit margin for amusement and theme parks is at 5. 4 percent. The reason for such a low margin is the high cost of staffing, maintenance, and heavy capital outlay of operating such an attraction (Orlando Sentinel, 2010). The profit margin for these parks would be even lower if it werent for their seasonal hiring. With so many employees needed for administration, merchandise selling, ride operation, food and beverage and mechanical positions, the cost would be even higher if a full staff were kept year-round. That is why most of the theme parks offer prices that are expensive. Cost It is general knowledge that this would take a lot of effort, manpower, and most importantly money. From constructing the establishments and rides, to the food that the park will serve, and finally the people who will help the company bring joy to customers, they are all going to cost a lot of money. So, ultimately this theme park will need large amount of cash to use. SURVEY QUESTIONNAIRE AND RESULTS (Interviewed 50 respondents including students and adults inside and outside the university. This is a basis of market segmentation).