Taronga Zoo is acknowledged as one of the world’s leading Zoological Parks. This report is for the Board of Directors of ABC in relation to the corporate sponsorship of Taronga Zoo Conservation Society Australia, and will provide an analysis of the zoo’s marketing plan. It will also evaluate the marketing potential of the proposed sponsorship for ABC.
1. SITUATIONAL ANALYSIS
1.1 MARKET ANALYSIS
Taronga Zoo is classified as a place of entertainment, and given that is in amongst a number of different places for entertainment in Sydney, the zoo has many tough competitors. Internal factors that directly affect the operations of the zoo include adequate staffing, facilities available and financial stability. External factors that impact the zoo include transport, economic conditions, the strength of the Australian dollar, weather conditions, school holidays, competitors and the aging population. ***
1.2 SWOT ANALYSIS
Taronga Zoos strengths include spectacular views of Sydney Harbour, a collection of over 2600 animals, as well as being the winner of the 2010 NSW Tourism Award. Weaknesses are visitors’ expectations to see animals constantly in action and increased competition from similar businesses. Opportunities include the closure of Wonderland in 2004, which was a major competitor. Threats include increased competition, which occurs when big companies buy multiple smaller companies and sell budget tickets.
2. ESTABLISHING MARKET OBJECTIVES
The main objectives of Taronga Zoo include increasing customer loyalty, as well as making sure visitors are aware of the conservation efforts that the zoo enforces. At current, visitor numbers to the zoo peak during periods of new animal births, which is something Taronga Zoo is trying to change by promoting the zoo as an animal conservation centre, rather than just a place to seek entertainment.
3. IDENTIFYING TARGET MARKET
Taronga Zoos target market has been segmented into four categories - demographic, psychographics, behavioural and geographic. This information has been collected through the use of numerous surveys, mainly conducted within zoo grounds. 3.1 DEMOGRAPHIC
The demographics in which Taronga Zoo attracts include young families, mothers with children under the age of 5, and grandparents with grandchildren. 3.2 PSYCHOGRAPHIC
People visiting the zoo tend to be practical and organised, and are generally unhurried. Many are considered low to middle income, and most have a ‘go with the flow’ attitude. 3.3 BEHAVIOURAL
The zoo has found that 50% of Sydney residents have visited within the last 2 years. 3.4 GEOGRAPHIC
The visitors that the zoo attracts come from a range of different places. 51% of visitors are from Sydney, 28% are International visitors, 11% are from other places in NSW, and 10% of visitors are from interstate.
4. DEVELOPING MARKETING STRATEGIES
Taronga Zoo uses the four P’s - product, price, promotion and place - to effectively increase market share.
The products in which the zoo offers are split into two categories: tangible and intangible. One of the main products Taronga Zoo provides is the intangible experience, which allows visitors to get up close and personal with over 2600 animals. This experience can be further developed as the zoo allows visitors to feed animals while providing them with a photo to remember the experience. The zoo also offers various education programs, which is an advantage over other zoos as Taronga Zoo is one of the only zoos to provide visitors with their extensive knowledge. Tangible products that Taronga Zoo provides include a large number of products in the gift shop, such as t-shirts and keyrings, which serve as momentums of the zoo. The zoo also has on-site kiosks and restaurants in which a large selection of food dishes can be purchased. This food is sold at a higher price as it is one of the only options of food available at the zoo, which generates a...