Luna Park Business Report

Topics: Marketing, Amusement park, Luna Park Pages: 7 (1267 words) Published: November 23, 2014

Table of Contents

1.0 Executive summary

2.0 Situational analysis
2.1 SWOT
2.2 Product life cycle

3.0 Market research
3.1 Primary market research
3.2 Secondary market research

4.0 Market objectives

5.0 Target market
5.1 Primary
5.2 Secondary

6.0 Marketing strategies
6.1 Product
6.2 Price
6.3 Promotion
6.4 Place
6.5 People
6.6 Processes
6.7 Physical evidence

7.0 Recommendations
7.1
7.2
7.3
7.4

8.0 Implementation, monitoring and control

1.0 Executive summary

In this Business Report for Luna Park, the reader would become aware of the strengths and weaknesses of the amusement park, as well as opportunities for the feature and threats to the company.

Luna Park would be considered to be in the maturity phase of a product service and readers would be able to understand how this happened. Luna Park involves both primary and secondary market research in order to find out problems with the park and how customers have enjoyed their day. They also have realistic goals that could be easily achieved through hard work, such as an increase in sales.

Luna Park has a clear understanding of their target market and ways to attract their customers through marketing strategies. Though there are some recommendations that could help improve the park, if Luna Park took this into consideration, Luna Park would become very successful.

2.0 Situational analysis
Luna Park needs to have a precise understanding of the business’s current position and a clear picture of where it is heading.

2.1 SWOT

Strengths:
A strong connection to Sydney.
Location, the ability to experience the harbor side views making it a more joyous time. Rides not only for children but also adults.
Accommodation for conferences and allows for events to take place in their venue rooms Supplies thirteen different venue options, with premium catering services

Weaknesses:
They need to close down rides due to bad weather conditions such as strong winds and damaging storms. Results in a decrease in customers and lessens the income of the business. Slow ticket sales

Poor food service handling
Precooked food
Site costs due to premium location

Opportunities:
Opportunity to improve rides
The conditions of which customers experience on them
Improving them to a point where the rides are able to be kept open when the weather is not fantastic.

Threats:
Noise complaints
Environmental pollution.
The possibility of high-rise plans for the area also provides a possibility that Luna Park might be reduced in size. Accessability

2.2 Product life cycle

Luna Park would seem to be in the maturity phase of the product life cycle as it has passed through the introduction phase in the 1930’s operating till 1972, before shutting down. Luna Park then reopened again in 2004 and considered now in the maturity, almost post mature stage due to them using the existing premises. Luna Park, as a business seems to have become saturated, most of the rides are similar to others in other amusement parks. The price to get into the amusement park is very expensive and while there are not any nearby amusement parks, similar, it is rather hard for a family to afford the cost. Promotions have been tried and prove to be successful, though Luna Park does not try to change for the possibility of being better. Distribution incentives may need to be offered to encourage customer preference in order to go there.

3.0 Market research
Luna Park has constantly researched ways in order to improve their park; they might have used the process of systematically collecting, recording and analyzing information concerning a specific marketing problem.

3.1 Primary market research

Through finding ways to improve the operations of the park, Luna Park has surveyed thousands over the years to find out what...
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