1.1 Introduction – Ocean Park’s mission and core values
Ocean Park (“OP”) is the first theme park in Hong Kong and opened in 1977. It is a non-profit making organisation that aims to provide visitors a unique guest experience combining three elements of entertainment, education and conservation. With its long history and distinctive image, it has always been regarded as Hong Kong people’s park. To maximize attendance and improve financial performance, OP has implemented Redevelopment Master Plan (“RMP”) to continuously develop new attraction areas, improve entertainment facilities and introduce new educational program.
1.2 OP’s targeted segment
Identify total market| People who are seeking guest experience in a theme park environment in Hong Kong| Segment dimension| Local visitors| Mainland visitors| Other overseas visitors| Segment profile| Corporate| Family| Teenager| Corporate| Family| Teenager| Corporate| Family| Teenager| According to OP’s 2008-2009 Annual Report, it is clearly stated that it aims to offer an excellent tourist destination to visitors particularly family. In the meanwhile, OP has also placed increasing focus on Mainland visitors as they are the key driver force which has made up about 45% of its attendance in 2009. Therefore, we can conclude that OP is currently targeting Mainland family segment and it can be illustrated by the following diagram:
1.3 The value propositions
From the above analysis, OP’s value proposition is:
OP’s guest experience is worth preference over similar entertainment options in Hong Kong to Mainland family segment because of the uniqueness of its theme park experience offered to visitors.
1.4 The product life cyle
Sales & Profits
Looking into OP’s life cycle as illustrated by the above diagram, it is estimated that it has reached the maturity stage based on the following findings: * Large but slow growing sales: OP recorded an annual attendance of over 4.8 million in 2008-2009, decreased by 5% comparing to last year’s historic record; * Promotion: OP has a long history of 33 years, its promotion strategy is focusing to establish brand loyalty rather than brand awareness; * Pricing strategy: OP is a low-price leader among similar entertainment options1; and * Product: OP offers differentiated guest experience
1.5 Marketing mix- Seven Ps
In 2008-2009, OP has undertaken the following marketing initiatives with a focus on its three core values– entertainment, education and conservation: Marketing mix| Facts| Core Values focused|
Product| * OP will deliver new products by doubling the attractions from the existing 35 to over 70 by 2012| All| Promotion| * OP has several fundraising initiatives e.g. relief to Sichuan Earthquake and Operation Santa Claus1| Education | Place or Distribution| * OP launched enhanced website with user-friendly navigation| Entertainment | People| * OP values their employee by focusing on staff trainings and conducting staff engagement survey * Joint promotion with numbers of collaborators | Entertainment | Physical evidence| * OP works to boost the Park’s appeal by introducing stronger colourful graphics to support guest amenities1 * The planned hotel developments to deliver a world-class resort concept to the Park| Entertainment| Process| * OP launched new educational programmes for learners of all ages * The establishment of Ocean Park Conservation Foundation| Education and Conservation| Price| * OP has adopted the low-price strategy * OP has close to 10 corporate social responsibility (“CSR”) initiatives offering free or generously-discounted entry to the Park1| All|
1.6 Ansoff Matrix
Based on the above analysis, it...