Description of the Industry
In 1980 at first the theme park concept were introduce in Bangladesh. At that time only one theme park named, Shisu Park was established for entertainment of the people of Dhaka city in Bangladesh. After that time another theme park was established in Shamoli named shishumela for fulfilling peoples demand. Some other small theme park has been introduced in Dhaka city. After those things peoples were not satisfied comparing with neighborhood countries entertainment. So for fulfilling these types of demand of peoples, the renowned concord group of companies was introduce the largest theme park in Bangladesh named Fantasy Kingdom. The park fantasy kingdom provides entertainment service as foreign theme parks. Now this park has become market leader to capture maximum market share in theme park industry in Bangladesh. After that another theme park named Nondon Park was introduced by Nandan group of companies which is situated at Nobinagar, Savar. This park also provides entertainment service as foreign style. But due to some poor strategic management they are the second market share holder of theme park industry in Bangladesh. This park is a major competitive theme park of fantasy kingdom. Our Hoi Choi Theme Park is going to compete with them by providing better service.
In order to become successful in a business, it is important for an organization to go through SWOT analysis to identify its internal factors that will allow the company to execute its business according to the plan and at the same time will allow it to have a clear idea of the external factors which may have both positive and negative impacts on its business process.
* Its location
* A combination of entertainment package
* Various International Rides
* The land of park is own not leasing
* High skilled employee’s
* Large area for further business expansion
* Natural based environment
* Difficulty to operating new equipment
* High cost structure
* Advancement of growing technology
* Changing customer needs
* Political instability
* A new competitor in home market
* Cost of technology investment
* Tax increases
* Economic pressure
* Direct Competitor:
* Fantasy Kingdom: Fantasy Kingdom is one of the largest and number one theme parks in Bangladesh. It is situated one hour distance from Dhaka city. It has approximately 25 acres area. The park is well design with various rides. They have around 25 types of rides. They provide good service with these rides with high amount of charges. Although they have captured more than40% market shares in theme park industry as a leader. The one thing is that they have also water park which is excluded from the fantasy kingdom that’s why customer have to pay extra amount for entrance in water park which is not desirable for today’s customer. * Nandan Park: Nandan Park is now country’s one of the largest family entertainment centre, which is attracting largest crowd every day. There is a large collection of rides like Cable Car, Water Coaster, Tilt-A-Whirl, Ice-Land, Musical Dancing Fountain, Wave pool and so on. The park is spread over 135 Bighas of land and there are plenty of greenery to spend the time in an eco-friendly and refreshing ambience. Water Park was inaugurated on May-2004. Water Park consists of Wave Pool, Wave Runner, Ladies & Gents Curve Slides, Kids Pool, Multi Play Zone, Rain Dance, and Waterfall & Mist. * Others: There are some others parks as well in Dhaka city who do not have a huge market share. They have a small area and most of them gave importance on a single demographic group like Shishu Mela, Shishu Park etc.
* Indirect Competitor:
* Star Cineplex: As we are having Movie Theater both normal and...