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| | |Services Marketing in Theme Parks | |MGMT E-6020 | Fall 2011 | | | | | | |
Submitted on Dec 12, 2011 by:
Zeynep Belge
Ellen E. McCarthy
Hassan Osman
Raghunathan T. Saranathan
| |
Table of Contents
I.Overview3
II.Positioning and Value Proposition3
III.Brand Identity13
IV.Market Segmentation19
V.Financial Information, Industry Reports and Recent Press26
VI.7 P’s: What to emulate, what to improve30
VII.Appendices35
VIII.Endnotes37
Overview
According to a 2011 report, the amusement park and arcade industry in the United States includes about 3,000 establishments and boasts combined annual revenue of roughly $13 billion. Close to 85% of the combined annual revenue is generated by the 50 largest companies in the industry. Three of the largest companies include Walt Disney, SeaWorld, and Universal Parks & Resorts.[i] This analysis places focus on specific locations of these 3 larger companies: Magic Kingdom at Walt Disney World (Lake Buena Vista, FL, U.S.A.), Universal Studios at Universal Orlando (Orlando, FL, U.S.A.), and SeaWorld Florida (Orlando, FL, U.S.A.). The focus on Florida locations is in line with tourism concentration for large theme park attractions. Excluding arcades, according to the International Association of Amusement Parks and Attractions (IAAPA) (2009), there are more than 400 amusement parks and attractions in the United States and the largest ones are located in California and Florida.”[ii] The Orlando Visitors Bureau estimates that in Orlando alone a person would need 41 eight-hour days to visit all of the attractions Orlando has to offer.[iii] According to themeparkinsider.com, all 3 Florida-based parks included in this analysis are on the list of Top 10 Theme Parks in the US as determined by 2010 attendance.[iv]
Positioning and Value Proposition
Magic Kingdom, Universal Studios, and SeaWorld are all successful entertainment destinations for reasons that are both similar and unique to each service organization. Each company’s success is driven in part by clearly articulated positioning tied to specific value propositions, as well as a focus on social and environmental responsibility. Key to any service organization is positioning, which distinguishes a brand from its competitors by creating a “unique selling proposition relative to the competition.”[v] While each of these theme parks does not expressly state a particular positioning statement to the public, it is clearly evident from each park’s website how each park hopes to distinguish itself, as well as how each helps “prospective customers to get a mental “fix” on what to expect” given the “intangible, experiential nature” of the service.[vi] Tied closely to positioning is a company’s customer value proposition (CVP), which is the “sum of benefits the customer will receive.” The CVP explains why the customer should buy the service and also serves to differentiate the company from its...
Submitted on Dec 12, 2011 by:
Zeynep Belge
Ellen E. McCarthy
Hassan Osman
Raghunathan T. Saranathan
| |
Table of Contents
I.Overview3
II.Positioning and Value Proposition3
III.Brand Identity13
IV.Market Segmentation19
V.Financial Information, Industry Reports and Recent Press26
VI.7 P’s: What to emulate, what to improve30
VII.Appendices35
VIII.Endnotes37
Overview
According to a 2011 report, the amusement park and arcade industry in the United States includes about 3,000 establishments and boasts combined annual revenue of roughly $13 billion. Close to 85% of the combined annual revenue is generated by the 50 largest companies in the industry. Three of the largest companies include Walt Disney, SeaWorld, and Universal Parks & Resorts.[i] This analysis places focus on specific locations of these 3 larger companies: Magic Kingdom at Walt Disney World (Lake Buena Vista, FL, U.S.A.), Universal Studios at Universal Orlando (Orlando, FL, U.S.A.), and SeaWorld Florida (Orlando, FL, U.S.A.). The focus on Florida locations is in line with tourism concentration for large theme park attractions. Excluding arcades, according to the International Association of Amusement Parks and Attractions (IAAPA) (2009), there are more than 400 amusement parks and attractions in the United States and the largest ones are located in California and Florida.”[ii] The Orlando Visitors Bureau estimates that in Orlando alone a person would need 41 eight-hour days to visit all of the attractions Orlando has to offer.[iii] According to themeparkinsider.com, all 3 Florida-based parks included in this analysis are on the list of Top 10 Theme Parks in the US as determined by 2010 attendance.[iv]
Positioning and Value Proposition
Magic Kingdom, Universal Studios, and SeaWorld are all successful entertainment destinations for reasons that are both similar and unique to each service organization. Each company’s success is driven in part by clearly articulated positioning tied to specific value propositions, as well as a focus on social and environmental responsibility. Key to any service organization is positioning, which distinguishes a brand from its competitors by creating a “unique selling proposition relative to the competition.”[v] While each of these theme parks does not expressly state a particular positioning statement to the public, it is clearly evident from each park’s website how each park hopes to distinguish itself, as well as how each helps “prospective customers to get a mental “fix” on what to expect” given the “intangible, experiential nature” of the service.[vi] Tied closely to positioning is a company’s customer value proposition (CVP), which is the “sum of benefits the customer will receive.” The CVP explains why the customer should buy the service and also serves to differentiate the company from its...
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