Session: May 2010
IB Subject of Essay: Business and Management
Supervisor Name: Mr. Philippe Cosentino
Word Count: 3902
In this essay, I shall be responding to the research question: “To what extent does Ocean Park’s marketing strategy for its re-development phase meet the preferences of its customers?” The purpose of this essay is for me to assess whether Ocean Park have fulfilled their marketing aspects during the re-development phase. The scope of this essay encompasses the marketing mix, marketing strategy and market research which contain primary and secondary research.
This essay focuses on analysing the business environment that Ocean Park is currently operating in and whether their marketing strategies are adequate to challenge competition from other theme parks. Information gathered from customer questionnaires, observations, news papers and internet are used to address the question. In- depth analysis conducted using tools like SWOT, Competitor Profile and BCG Matrix facilitate a detailed study of Ocean Park’s marketing strategies for its redevelopment phase.
This re-development phase has allowed Ocean Park to bring in new products and improve on their existing products by devising strategies at both corporate and business levels. Ocean Park already has strategic benefits of having high standard service and a convenient location which will be made even more so with the expected arrival of the new railway line by the year 2015. They have satisfied the strategy of product diversification by introducing a variety of attractions for all age groups which will double the number of attractions from 35 to 70.
Conclusively, while Ocean Park’s marketing strategy does satisfy customer preferences to some extent, there is room for further improvement with promotion in the international market and introduction of currency exchange counters in order to meet the needs of its overseas customers.
Word count: 275
Table of Contents:
The Re-Development Phase 5
➢ Primary Research
➢ Secondary Research
Customer Profile 7
Product Profile 8
Product Life Cycle 8
Marketing Mix Analysis 9
➢ SWOT Analysis 10
➢ Competitor Profile 12
i. Disneyland Hong Kong
ii. Disneyland Shanghai
iii. Noah’s Ark
Marketing Strategy 13
➢ Consumer Position Mapping 14
➢ Boston Consultancy Group Matrix 17
The research question of this Business and Management Extended Essay is, “To what extent does Ocean Park’s marketing strategy for its re-development phase meet the preferences of its customers? The aim of this essay is to look at what type of marketing Ocean Park (OP) is conducting and if their marketing strategy is helping them achieve their goals. It is crucial to explore this research question given the following facts in the industry:
1. There are increasing number of competitor services (theme parks) such as Disneyland Hong Kong, Noah’s Ark, and other upcoming theme parks within China. 2. A more affluent society in China, due to a significant increase in per capita income resulting from international trade, is increasing the customer base for theme park services. The marketing strategy must therefore take this into account. 3. Marketing strategies in Asia can be more complex than in Western countries as they have to be multilingual and reach a huge...