The point of view of the Top Management is assumed. The group believes that because the management is majorly concerned with the company’s performance, and likewise, are the most knowledgeable in the field.
1.Opportunities – Threats Analysis
•Increasing population in the Philippines
•Relatively young population
•Precarious economic conditions prevailing
•Economic downturn that lead people to cut leisure expenses (change in lifestyle) •Seasonality faced by the industry (irregular demand)
•Burgeoning competition from other recreational establishments •Currency crisis in their land
2.Strengths- Weaknesses Analysis
•Pioneer theme park in the country
•Spacious and quite accessible land
•Difference to other carnival offerings (seven fantastic theme zones, wide variety of food outlets, especially shops, and video game centers, musical entertainments, and fireworks display every weekend) •Imported image (accreditation with International Theme Park, Inc. and “service” training from Disney USA of all crew members) Weaknesses
•No major rides and attractions were added to the park within the last four years •Plunging park attendance
3.Product Life Cycle
The Company is in the Growth stage of its PLC. New product features and service were offered. It was accredited with the International Theme Park, Inc., and acquired service training from Disney USA, as well. The company has introduced new rides after its launch. It continuously builds its awareness and interest in the mass market. The company had fast progress in terms of product ideas since EK has greater comparative advantage over its competitors, Star City and Fiesta Carnival. With its offering better than the other carnivals’, the faster its sales increased. The company emphasized to provide attraction with great consideration on the costumers’ safety and protection, compatible with what the costumers look for.
The target market is the AB social class. As stated in the company’s corporate mission, the company commits to provide service to guests of all ages.
Enchanted Kingdom has its two carnival competitors, namely Star City in Manila and Fiesta Carnival in Cubao. These segment rivals had usual carnival offerings of which EK decided to differ from. Threat of entry is low in the industry because of the need of high capital requirements and so not much potential entrants or rivals can be seen in the picture. However, there is burgeoning competition among the other recreational activities. Threat of substitutes is relatively high because of the existence of malls, movie houses and Splash Island.
6.Marketing Mix or Marketing Strategies
The core benefit of the product is to provide leisure, recreation, and entertainment to the costumers. Aside from providing its basic product of providing rides, parks and shops, EK achieved its expectations from the customers.
To boost guest attendance during the lean months, the management decided to bring down their admission prices on certain days and months to encourage first-time visitors try park’s rides.
Enchanted Kingdom is located at Laguna, 30 kilometers away from Makati. With this distance, a point-to-point bus shuttle service is provided routing from Makati to the park and back. This is on a first-come, first-serve basis.
There has been heavy promotion to increase park attendance. Promotions on the “Government Promo” on August 1997 and “Barkada Treat Promo” from April to May 1998 had spectacular jolt in park attendance. On June to September 1998, Government and Calabarzon Promo solicited modest patronage only. Sembreak Treat Promo on October 1998, however, had attendance below expectation because of the late advertisement the management had. EK used rapid-penetration strategy. This strategy is...