There are various ways in which the LHRC can promote the
theme park prior to its opening. But the most critical factors to be considered
in order to ensure the success of the venture are firstly, the creation of a
strong brand image of the theme park, offering unlimited entertainment for the
entire family, and secondly, reaching out to the targeted audience and build a
brand loyalty to ensure continual success in the future.
There will be a soft opening of the theme park and guided tours will be
given to select targeted market segments proposed to capitalise on word of
mouth marketing. This will give visitors a sneak peek into the full blown
experience upon the opening of the theme park.
LHRC will ensure that the packages are offered specifically designed to meet
the needs of the visitors and they are encouraged to bring friends and family
by being offered additional discounts. Newpapers, Television advertisements and
Social media will be used to promote the theme park 6 months prior to its
opening, by keeping the prospective visitors intrigued and excited.
The location of the entertainment
site will be easily accessible connected to the highway, travel distance kept
minimal and traffic congestions under control. Other factors like weather,
environmental conditions etc will be taken into consideration as well and visitors
will be advised timely on the website.
The proposed pricing for the
segments is 1) pricing for couples at £50 for a day pass, 2) Unlimited rides
for a family with children younger than 12 years, priced separately for adults
and children at £35 per day for adult and £30 per day for children, 3) price of kiddie meals and adult meals can
be availed by purchasing food vouchers online at 20% discount or can be
purchased on site at 0% discount, 4) hotel accommodations will be offered at
25% discount on weekdays and at a special family package on weekends. The
prices mentioned are estimated prices only, based on travel blogs and guide
(Gill and Watts, 2012).
In the UK, families with children
aged less than 12 have generally less disposable income for holidays, therefore
that segment will be offered a lucrative package with discounts particularly for
families with younger children.
The marketing strategy will
enable the theme park to focus on the market by offering an unparalleled
quality of service and product, and an experience to cherish forever. The
packages will be in accordance with the two market segments. The entire
experience will be marketed as safe, enjoyable and hassle free for the entire
family. This will encourage the visitors to keep coming back for more in the
future thus guaranteeing ongoing revenues.
Target Market No.
New Market Segment
With Children < 12 years An experience to remember for the entire family! Make memories that Last….. Become part of our family and we give you priority! Because Family matters…. All-inclusive flexi family package. Memories Album for the family at the end of the trip. 2 Visitors Without Children Flexible Group Package Flexible Couple's Package Photo Contest The marketing strategy outlined above suggests that visitors to the entertainment site belong to different segments of the market. Behavioural, proficiency, demographics and psychographic factors have been considered in devising the strategy. The classification has assigned to visitors with children and without children. Furthermore, the marketing strategy can be analysed by the following marketing mix, taking into consideration the four P's of marketing in the following proposal for the two market segments. 4.1 Marketing Mix – Four P's of Marketing for Two New Target Markets We have already identified the two market segments mentioned afore as Visitors with Children < 12 and Visitors without Children. The conclusion that can be drawn from the findings and analysis done above is that LHRC needs to devise a marketing mix to target its potential customers 6 months prior to its expected inauguration date. 4. Marketing Mix The most important step in marketing is how the product is positioned as it is the key influence on the target audience. This will be based on the needs of the consumers, the existing competition in the market and the channels available for marketing (Richards, n.d.). 3.3 Product Positioning for Target Market 1 and Target Market 2 Therefore we can conclude that by targeting the second market, the sales can be increased if within the visitors, the classification of age and income groups can be made. The second target market, although smaller in comparison to the first, is the visitors without children. These are young couples, teenagers as well as elderly couples who will visit the park in groups for short breaks. These are the visitors with a higher spending budget as they are working couples who can afford to spend more on the rides and activities. 3.2.2 Target Market 2: Visitors without Children The children need to be targeted as a primary market as once interest is instigated in them, the entire family can be lured to visit the theme park. This direct marketing will have an effect as indirect marketing as well. By targeting children aged below 12, families will be coaxed to take short vacations in the theme park, which will generate revenues. Majority of the visitors to theme parks are young and middle aged couples with children less than 12 years of age, therefore this segment needs to be exploited for growth. Also, couples with younger children are cost conscious and avoid spending large sums of money on expensive holidays, therefore a local destination for family entertainment is ideal for them. 3.2.1 Target Market 1: Visitors with Children < 12 Years § Visitors without Children § Visitors with Children < 12 Years We propose two target market segmented as follows. 3.2 Market Targeting According to the statistics available for 2016, Legoland Windsor, UK experienced a total number of 2.18 million visitors while Thorpe Park in Chertsey, UK had 1.8 million visitors. From this we can see that the scope of the theme parks is big and has a high expected potential. From the statistics it is also evident that the number of visitors has decreased due to tumultuous and unprecedented events in the UK, therefore new strategies to increase the target market in order to sustain and increase the existing revenues need to be deployed ahead of the opening of the theme park. This can be done by a strong marketing plan. LRHC can use the marketing tools of segmentation to its advantage by dividing the market in several ways including demographic, geographic, behavioural and psychographic (Rodrigo, 2012).However, we will use the demographic segmentation in our plan. 3.1 Market Segmentation In the first half of this report, we focussed on the macro environmental analysis using PESTEL. We can conclude from the first part that the industry needs to be revitalised as it is currently facing challenges due to increasing competition in the Europe and North America. We will address this issue by proposing new target markets and develop a marketing plan based on it. 3. Identification of New Target Markets Indoor theme parks, much smaller comparatively, have been built in areas with high levels of family densities. These theme parks offer cheaper and readily affordable entertainment options to families and are a major hit amongst them. 2.4 Technological According to surveys and reports, there is a shortage of theme parks and family entertainment sites in UK, and people with families especially younger kids travel to Paris, for the Euro Disney experience. This option is not very affordable considering the cost of flights and accommodation. 2.3 Social UK tourism is slated for an expected growth in the next ten years, increasing to 12.4% of GDP by 2025, and will create jobs resulting in 13.2% of UK employment coming from the tourism industry. The number of inbound visitors is expected to increase by 6.1% annually whereas the resident tourists will result in increase of 3% annual growth. 2.2 Economical The biggest impact on tourism sector in the last year has been that of the terrorist attacks in UK and the unrest caused consequently. Families with children prefer to travel to safe destinations and avoid countries which are unsafe in any way. 2.1 Political We will use the PEST analysis as a tool to understand the factors that will have an impact on the demand for the new theme park. PEST stands for political, economic, social and technological factors (R, Collins, 2010). 2. PEST Analysis The creation of this theme park with its numerous attractions is very important for the UK tourism as currently UK does not have a significant number of such entertainment attractions as compared to other countries. As the UK tourism industry has been affected due to the instability which can be felt as a result of the BREXIT, therefore the objective of this report is to identify marketing strategies for this theme park. The site is being planned in such a way that there will be adequate transportation connecting it to the highway, public footpaths and cycle routes, also accessibility by boats using the existing jetty on the river. This site will not only create entertainment, furthermore it will create an estimated 30,000 skilled and un-skilled jobs, and work opportunities for the local population. This in turn will have a positive impact on the economic activity levels of the local area. The London Resort Company Holdings (LRHC) has planned a site for a theme park in Dartford, Kent. This park will have unparalleled attractions and experiences, along with themed rides, day and night time shows and parades. There will be numerous hotels with event hosting facilities, and indoor entertainment such as cinemas and nightclubs. Introduction